Some Chinese insurers may face a cash crunch this year as many policies mature, and as the sector faces sliding investment returns and rising costs, the China Insurance Regulatory Commission (CIRC) said. Insurance companies need to broaden their investment channels …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Bermuda-based Arch Reinsurance Ltd. and its strategic affiliates. Best also assigned an FSR of ‘A+’ (Superior) and an …
CloudInsure, a cloud insurance platform designed to specifically address privacy and security liabilities within the cloud environment, has formed an agreement with independent (re)insurance broker Lockton to provide risk management products for clients exposed to hazards associated with cloud technologies. …
Nebraska Gov. Dave Heineman has approved a new route for the Keystone XL oil pipeline that avoids the state’s environmentally sensitive Sandhills region. Heineman sent a letter to President Barack Obama confirming that he would allow the controversial project to …
An associate professor at South Dakota State University says agriculture and related industries had a $21.4 billion impact on South Dakota’s economy in 2010. Gary Taylor, an associate professor of economics, says the impact includes more than $8.3 billion in …
Toledo, Ohio-based insurance brokerage firm, Hylant, announced that industry veteran William D. (Kip) Irle has joined the company as captive risk practice leader. Irle is a 20-year veteran of the insurance industry. He previously served in national and global positions …
California Attorney General Kamala D. Harris filed lawsuits on Thursday against two international apparel manufacturers for gaining an unfair advantage over American companies by using pirated software in the production of clothing imported and sold in the state. The companies, …
American Collectors Insurance, a Cherry Hill, N.J.-based national provider of insurance for collector vehicles and collectibles, combined its online sales and service department with its phone sales and service department. As part of the new sales team alignment, the company …
The New York regulators’ latest “report cards” on the performance of insurers in the wake of Superstorm Sandy shows that 1,830 consumer complaints have been filed from 381,827 Sandy-related claims — at the rate of 0.48 percent. The information in …
Virgin Galactic says it supports newly proposed New Mexico legislation to limit liability of spacecraft part suppliers from damage lawsuits by passengers on space tourism flights launched from the state. Virgin Galactic President George Whitesides also confirms that the company …
