A Florida insurance trust that provides property insurance and other products to cities around the state has issued a $20 million private placement catastrophe bond to help pay claims due to hurricanes. Towers Watson Capital Markets, a wholly-owned subsidiary of …
The Moore, Oklahoma tornado, which killed 24 people, was the deadliest to touch down during a nearly weeklong outbreak across the U.S. Midwest. The states hardest hit have been Kansas, Missouri, Texas and Oklahoma, according to SNL Financial. The devastation …
Parhelion Underwriting Ltd. became the first insurer to offer a policy to protect companies from the invalidation of carbon offset credits sold as part of California’s cap-and-trade program. Parhelion, based in London, will sell insurance for permits originally issued by …
North Carolina authorities have accused a Lincoln County man of filing a fake report of a stolen motorcycle and trailer to get money from an insurance company. The Charlotte Observer reported that 38-year-old William Minford Chatham III of Vale is …
Vermont sued a patent owner over claims it violated the state’s Consumer Protection Act, saying it’s the first state to file such a complaint against a company whose business is suing for patent infringement. The state sued MPHJ Technology in …
“A large solar storm could leave tens of millions of people in North America without electrical power for several months, if not years, potentially costing trillions of dollars,” according to Lloyd’s latest emerging risks report: “Solar Storm Risk to the …
A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable and affirmed the issuer credit rating (ICR) of “bbb” and the financial strength rating (FSR) of ‘B++’ (Good) of United Arab Emirates-based Dubai Insurance Company …
A report by Standard & Poor’s Ratings Services notes that “for the two main insurance sectors, life and property/casualty (P/C), overall industry and country risks are, on average, much lower in developed than in emerging markets.” S&P explained that it …
Fairfield, CA, 05/23/13 – Now in its third year, the 2013 Virtual Insurance Marketplace, brought to the insurance industry by Direct Connection Advertising & Marketing, LLC, an agency specializing in insurance marketing services, offers a fully interactive and accessible online …
A Justice Department official insisted on Wednesday that no financial company is too big to jail, in the department’s latest effort to backpedal from statements made in March by Attorney General Eric Holder. “No institution and no individual is immune …
