A.M. Best Co. has assigned a financial strength rating of ‘A’- (Excellent) and issuer credit rating of “a-” to Hong Kong-based Peak Reinsurance Company Limited, both with stable outlooks. Best explained that “Peak Re is licensed in Hong Kong as …
Willis Re’s Jan. 1 renewal report points out that 2012 natural catastrophe losses are estimated to be “50 percent less than last year’s losses of $120 billion.” As a result the report concludes that “most reinsurers are not facing any …
A report from Lloyd’s of London concludes that the increasing demand for political risk insurance “has been rising as civil unrest and political violence continue to threaten businesses around the world.” The article on the Lloyd’s website cites several factors …
Northern Montana Insurance Services, a Leavitt Group affiliate, has expanded operations with new offices in Helena and Butte. Jay LeProwse and Pam King have joined the agency and will work in the Butte office. Shawn Kraft and Dalena Baker have …
Los Angeles, Calif.-based Brown & Riding and Chicago, Ill.-based Travis-Pedersen have inked a deal that creates a large property/casualty wholesaler. The companies began discussions about combining their complementary organizations in 2009 and reached a definitive agreement to merge effective Dec. …
The vast majority of commercial insurance buyers renewing their policies appear willing to accept coverage adjustments, moderate price increases, or both, according to a new survey. Still, the survey of risk managers and other corporate insurance buyers by Hanover Stone …
An initiative that sends workers into storm-damaged Staten Island homes in New York to make electrical repairs for free is being suspended because officials say it’s getting expensive.Borough President James Molinaro tells the Staten Island Advance in a story published …
As a winter storm whips across the region, officials in Vermont are issuing winter weather safety tips.The Burlington Fire Department is urging residents to keep gas meters and appliance vents clear of snow and ice.
R-T Specialty LLC entered into a definitive agreement to acquire West Coast workers’ compensation specialist International Facilities Insurance Services. Chicago, Ill.-based R-T is the brokerage arm of Ryan Specialty Group LLC. Los Angeles, Calif.-based IFIS will become part of RT …
The deputy speaker of the Rhode Island House of Representatives has been sentenced to serve time in federal prison for tax fraud involving his insurance adjuster firm. Rep. John McCauley — the owner and co-operator of McCauley and L’Europa Public …
