Hurricane Gustav, which came ashore southwest of New Orleans on Monday morning, is expected to trigger significant insurance claims but far less than record-setting Katrina did three years ago. “This is a significant, catastrophic event, but insurers anticipate these, and …
Maryland’s private auto insurance industry is objecting to a proposal by the state’s insurer of last resort to lower rates as gasoline and food prices rise. At a hearing in Baltimore on Friday, industry representatives told Insurance Commissioner Ralph Tyler …
ACE Europe announced from its Dublin headquarters that it has launched a new Pension Trustee Liability (PTL) product “ACE Elite PTL IV,” which has been developed to provide comprehensive protection for Pension Trustees, Pensions Schemes and Employers in the Republic …
A report from Willis Group Holdings indicates that “while the Marine insurance market remains relatively weak overall, there are some signs of hardening, with firmer rates being seen in a few very specific sectors, namely the Protection & Indemnity (P&I) …
Standard & Poor’s Ratings Services has released findings, which show that ‘natural catastrophe bonds (‘nat cats’) have proven generally resilient during the capital market’s turbulence over the past year.” They are currently the “main insurance linked securities (ILS) asset class,” …
Although Gustav is slowly blowing itself out over Oklahoma, Miami’s National Hurricane Center still has a lot of work to do. Its currently tracking a hurricane, a tropical storm, a tropical depression and two disturbances, lined up across the Atlantic …
Standard & Poor’s Ratings Services has affirmed its ‘AA’ long-term counterparty credit and insurer financial strength ratings on Germany’s Allianz SE (AZSE) and related core entities, along with the ‘A-1+’ short-term corporate credit rating. The outlook on the ratings remains …
After weeks of speculation, Germany’s Allianz SE has announced the sale of its Dresdner Bank unit, the country’s third largest, to Commerzbank for €9.8 billion ($14.2289 billion). Allianz also said it has purchased Cominvest, Commerzbank’s asset management entity and will …
A former cheerleader has been awarded $14.8 million by a Spokane County, Wash., Superior Court jury after a series of dental surgeries left her disabled and disfigured with her jaw fused shut. The jury decided that Dr. Patrick C. Collins, …
Fire crews are battling a fast-moving wildfire that broke out Sunday afternoon south of Lake Tahoe and that has forced the evacuation of campgrounds, resorts and homes in the area. Fire information officer Mark Struble said the 125-acre blaze is …
