A report from Standard & Poor’s Ratings Services notes that the “natural catastrophe (nat-cat) bond market has come a long way since S&P rated its first true nat-cat bond a decade ago.” “As the market has become more sophisticated and …
Willis Group Holdings has announced that ” Glencairn, Hilb Rogal & Hobbs’ London-based operation,” will form the “cornerstone” of a “new third-party wholesale brokerage business,” upon completion of Willis’ planned combination with HRH in the fourth quarter (See IJ web …
According to a recently released report from Marsh, “insurance rates across most lines of business in the Europe, Middle East and Africa (EMEA) region continued to soften in the first half of 2008.” However, “the report also identified trends being …
The Supreme Court of Alaska has ruled that a law office is not liable for ordinary negligence and strict products liability when an overweight person is injured by an office chair that collapsed. According to Charles Burnett v. Kenneth Covell, …
The Nevada Department of Business & Industry named Betty C. Baker acting commissioner of the Division of Insurance. Baker will oversee the Division while a replacement is sought for Alice Molasky-Arman, who recently retired as Insurance Commissioner after 27 years …
Island Insurance Co. Ltd., Hawaii’s largest locally owned and managed property and casualty insurance carrier, has reaffirmed its “Aq” rating for Quantitative Insurer Financial Strength (Q-IFS) by Fitch Ratings. Fitch Ratings is an international credit rating agency; one of four …
Davie, Fla.-based Bristol West Insurance Co. announced it is decreasin automobile insurance rates up to 10 percent for current and new customers in Washington. The rate decrease is effective Sept. 16, 2008, and is based on a combination of an …
Workers’ compensation insurance rates will be dropping in North Carolina next year, for the first time in five years. The News & Observer of Raleigh reported Sept. 10 the North Carolina Rate Bureau has requested an average drop of 4.4 …
Four former executives of American International Group Inc., including ex-CEO Maurice “Hank” Greenberg, agreed on Thursday to settle a long-standing shareholder lawsuit for $115 million. The insurer will receive proceeds from the settlement, less fees. The settlement will save the …
West Virginia will begin studying ways to recover economically from natural disasters, particularly in parts of the state perpetually hit hard by flooding. The federal Economic Development Administration announced Sept. 8 in Bridgeport that the state is getting $250,000 to …
