Torus Insurance Holdings Limited announced the appointment of Tim Mardon as President and Chief Underwriting Officer of Torus Re with immediate effect. He will report directly to Clive Tobin, Chief Executive of Torus. Prior to joining Torus, Mardon, who has …
A.M. Best Co. has revised its outlook to stable from positive for the ratings of Hannover Rueckversicherung AG (Hannover Re) and its rated subsidiaries, while also affirming the German reinsurer’s financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit …
Some Asia-Pacific nations criticized U.S. and other developed world protectionism on Tuesday at a meeting aimed at spurring a global trade pact and revitalizing the global economy. Thai Commerce Minister Pornthiva Nakasai, meeting her Asia-Pacific Economic Cooperation counterparts including the …
California Gov. Arnold Schwarzenegger reported late Monday from his Twitter account that he and state legislative leaders had reached a budget deal, which will be voted on by the full Legislature on Thursday. Budget negotiations to help close the state’s …
Survey Says Carrier Size Matters But So Does Price, Underwriting and Service When it comes to selecting a carrier partner, size matters. But when it comes to ending a carrier relationship, price, underwriting flexibility and service matter the most. That’s …
Rock concerts, iPods and cell phones may be contributing to a future generation of individuals suffering from hearing loss. “We could very well see hearing loss problems continue to increase into future generations,” said Louise Vallee, vice president, Chubb & …
Bankruptcy: General bankruptcy is a legal process that provides relief to those who can no longer pay all of their debts. The goal of the bankruptcy laws is to give debtors a “fresh start” by releasing debtors from specific debts …
Results for the property/casualty industry over the next few years will be driven by the 2009 recession, mixed insurance premium pricing momentum, and modestly deteriorating underwriting results, according to a new industry forecast report. “The combination of continued price decreases …
The U.S. property/casualty industry’s net income fell 87 percent to $1.2 billion in the first three months of 2009, according to A.M. Best. “The year-over-year decline in earnings was due primarily to the severe and prolonged turmoil in the financial …
How to Help Clients Work Through the Challenges of Going Under Bankruptcy. It’s a word agents and brokers will need to get used to hearing from their business clients. It’s not just occurring on Wall Street; it’s happening every day …
