ProAssurance Corp., based in Birmingham, Ala., announced its held exposures related to financial institutions recently in the headlines. ProAssurance reported it holds $ 21.6 million in Lehman Brothers senior notes; $8.9 million in Federal National Mortgage Association preferred stock; $1 …
Middle-market commercial property insurer Affiliated FM has introduced a new ‘green’ coverage endorsement to its proVision all-risk property policy. The green endorsement provides flexible coverage for the additional costs of repairing, replacing or rebuilding damaged property using environmentally responsible practices, …
Risk Management Solutions (RMS), the catastrophe risk modeling firm, has refined its estimate for U.S. onshore and offshore insured losses from Hurricane Ike to $7 to $12 billion from its original estimate of $6 to $16 billion. This estimate includes …
Maine’s supreme court is being asked to overturn the concept of charitable immunity in a church abuse lawsuit. A lawyer told the Maine Supreme Judicial Court that the Roman Catholic bishop knew the Rev. Raymond Melville had “pedophilic tendencies” when …
New York officials helped giant insurer American International Group Inc. strike a historic loan deal with the Federal Reserve on Tuesday night to keep AIG afloat and avoid another fiscal crisis for the state. Gov. David Paterson called it “great …
Rhode Island is acting to safeguard the estimated $131 million it has in investment accounts managed by financially struggling insurance giant American International Group. State officials have formed a “SWAT team” to avert a worst-case scenario in which Rhode Island …
“Poor packaging by the fashion industry could mean that insurers refuse to pay claims for damaged goods in transit – not to mention that replacement clothing and accessories are unlikely to be delivered in time to catch the season,” warns …
Standard & Poor’s Ratings Services has revised the CreditWatch status of most of its ratings on the AIG group of companies to CreditWatch developing from CreditWatch negative. The revisions affect its ‘A-‘ long-term counterparty credit ratings on American International Group …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 33, which is managed by Hiscox Syndicates Limited (HSL). Best also affirmed the ICR of “bbb+” of the …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICRs) to “a” from “a-” of Hiscox Insurance Company (Bermuda) Limited, Hiscox Insurance Company Limited (Hisco) and Hiscox Insurance …
