The U.S. Senate last night approved a temporary reauthorization of the federal flood insurance program until Sept. 30. The reauthorization of the National Flood Insurance Program (NFIP) is retroactive to June 1, the date the program was halted. The unanimous …
Absent-minded iPhone users can now insure their devices against loss or accidents. But with a $12 monthly fee and a $199 deductible for the latest model, it might make more sense to just learn to be careful. Asurion, an insurer …
Plans to crack down on seven West Virginia coal mines with a history of excessive health and safety violations were dropped because of a lack of money, the industry’s chief federal regulator said this week. The West Virginia mines are …
Hurricane Alex weakened to a tropical storm Thursday as it moved further inland over northeastern Mexico, dumping heavy rains that flooded cities but sparing U.S. oil facilities near its path. Rain from the first named storm of the 2010 Atlantic …
The former head of the AIG unit that nearly crippled the insurer said the 2008 taxpayer bailout of up to $182 billion was too generous to customers like Goldman Sachs. Goldman Sachs, in turn, insisted it simply followed its agreement …
Torus has announced that it has completed the acquisition of Glacier Insurance AG from the Glacier Group [See IJ web site – https://www.insurancejournal.com/news/international/2010/05/04/109510.htm ]. The Liechtenstein-headquartered specialty insurer, which has branch offices in Zurich, Cologne and London, will be renamed …
Willis Re, the reinsurance arm of Willis Group Holdings announced the appointment of James Byng Property Resource Group Leader for its International and Specialty reinsurance business. He will assume this new position on August 1, 2010 and will report to …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 3000, both with stable outlooks. The ratings reflect the financial strength of the Lloyd’s market, which underpins the …
A.M. Best Co. has upgraded the issuer credit rating to “a+” from “a” and affirmed the financial strength rating of ‘A’ (Excellent) of UK-based Markel International Insurance Company Limited (MIICL), both with stable outlooks. Best said the rating upgrade reflects …
A new report from Willis Re, the reinsurance broking arm of Willis Group Holdings, has concluded that “losses from the Chile earthquake and storms in Australia in the first quarter of 2010 have had little impact on pricing in the …
