Florida Governor Charlie Crist today signed legislation making properties affected by imported or domestic drywall eligible for an adjustment of their assessed value. The bill, HB 965, applies to the 2010 and subsequent assessment rolls and is repealed on July …
Catastrophe risk modeling firm AIR Worldwide described the early tropical storm Agatha as “short-lived, but deadly,” as it “wreaked havoc in Central America over the weekend. Agatha benefitted “from low wind shear and sea surface temperatures of 30°C,” said AIR, …
UK insurer Prudential Plc is pulling out of its bold $35.5 billion takeover of AIG’s Asian life insurance arm, ending a 3-month battle with shareholders who had argued the deal was over-priced. The widely expected move on Wednesday came after …
The Bermuda Monetary Authority has begun conducting a pilot of its internal capital model (ICM) review process with selected Class 4 companies, the largest commercial (re)insurers in the Bermuda market. “The ICM framework will allow (re)insurers to use their own …
AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) announced that they have agreed to “extend until July 15, 2010 end of day the agreement relating to the proposed transaction whereby NAB will acquire 100 …
Insurance Australia Group (IAG) has announced that “due to a significant deterioration in UK claim experience, in particular bodily injury claims, it had conducted a further independent actuarial review of its UK business. “As a result, in FY10 the Group …
Chartis has renamed one of its divisions as Growth Enterprises, replacing the previous division name, Small Business. Growth Enterprises, established in 2001, delivers products and platforms to growing companies in a wide range of industries. Based in Berkeley Heights, New …
Florida’s Division of Emergency Management, under a second director since Craig Fugate left a year ago to run its federal counterpart, is getting a jump start on the hurricane season. With the storm season to begin Tuesday, the agency has …
The Ohio Bureau of Workers’ Compensation (BWC) board of directors has approved a 3.9-percent overall private employer premium rate decrease for the upcoming policy year, beginning July 1, 2010. The upcoming rate cut represents an overall 35-percent base rate reduction …
Investigators probing the nation’s worst coal mining disaster in 40 years plan to enter the Upper Big Branch mine for the first time today, owner Massey Energy Co. said. Unsafe levels of toxic and explosive gases have kept federal and …
