A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of New York-based AXA Insurance Company. Best has also affirmed the FSR of ‘B++’ (Good) …
A Montana insurance rule that makes it more difficult for companies to deny claims will stand, after the U.S. Supreme Court declined to hear the case. “It is immensely important and affects the health insurance rights of tens of millions …
Based on what are so far only preliminary estimates, Standard & Poor’s Ratings Services said it expects insured losses from the oil spill in the Gulf of Mexico “to be significantly less and be spread among multiple markets and re/insurers.” …
Property owners across the country fearing they may be forced to buy expensive flood insurance under a push to draw up new floodplain maps will catch a break by being offered the coverage at sharply lower rates for two years, …
The New Mexico Public Regulation Commission has appointed a new interim insurance superintendent, and the deputy superintendent has resigned. The PRC announced the appointmnt of Craig Dunbar’s. The 59-year-old Dunbar will replace Deputy Insurance Superintendent Thomas Rushton, who had been …
Residents and businesses in a northeast Iowa town can sue the state for flood damage caused by a highway project, the Iowa Supreme Court ruled last Friday. The court overturned district court and appeals court decisions dismissing the lawsuit filed …
The U.S. government will move aside BP from the operation to try to halt the Gulf of Mexico oil spill if it decides the company is not performing as required in its response to the well leak, U.S. Interior Secretary …
BP sharply reduced its estimate on Monday of how much oil it is siphoning off from a ruptured well in the Gulf of Mexico as Washington kept the pressure on the energy giant over the environmental debacle. British-based BP said …
The U.S. Justice Department has dropped a probe of American International Group Inc. executives involving the credit default swaps that sent the insurer to the brink of bankruptcy and forced a huge taxpayer bailout, lawyers for the executives said Saturday. …
The Princeton NJ-based Catastrophe Risk Exchange (CATEX) and London-based TriSystems, both providers of technology platform and services to the global insurance and reinsurance industries, announced a strategic partnership “to deliver a full end-to-end solution for bordereau formatting, processing and reporting. …
