A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Mitsui Sumitomo Insurance Company, Limited (MSI), as well as the FSR of ‘A+’ (Superior) and ICR of “aa” …
“Overcapitalization in the reinsurance market continues to gradually push rates downwards with price reductions at the January 1, 2011 reinsurance renewals averaging between 5 percent and 10 percent, according to the latest assessment of the state of the marketplace for …
The outcome of U.N. climate talks in Mexico this month should boost steps in Asia to curb greenhouse gas emissions, with China a likely bright spot in 2011, a senior analyst at a leading U.S. think tank said. The talks …
State fire investigators have concluded that a fatal explosion at a condominium project last summer was not the result of the delivery of odorless propane gas from a Westfield, Mass., distributor, as initially thought. The report from Fire Marshal Stephen …
Maine Gov. John Baldacci is requesting a damage assessment for the torrential rainstorm that deluged eastern Maine earlier this month. The Dec. 12 storm dropped 6 to 8 inches of rain in places, washing out local roads, flooding basements and …
The ISU Agency Network has added a Southeast regional office in Atlanta. The office will be lead by Gary Poisson, who will manage the development of the ISU network in 11 states from Virginia to Louisiana. Poisson has 25 years …
The Federal Emergency Management Agency (FEMA) is seeking a top-to-bottom review of the efforts to reform the nation’s flood insurance program. The National Association of Mutual Insurance Companies (NAMIC) has offered a set of reform proposals designed to improve the …
As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more. Cleanup, government fines, lawsuits, legal fees and damage claims will likely exceed the $40 billion that BP has publicly …
State inspectors have found two privately owned hazardous dams in Tennessee that are in need of immediate repair, including one that the property owner seems unwilling to fix. An investigation by The Jackson Sun in May found that there are …
Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits, New York will receive $5.5 million and …
