According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion that economic and insured losses would continue to …
An Exclusive Interview with Gregory Serio Gregory V. Serio, the superintendent of the New York State Insurance Department, is a busy man—moving between Albany, Manhattan, Washington D.C. and elsewhere about the country. So, thanks to Mother Nature, in the form …
Last month the National Association of Independent Insurers issued a bulletin, which described New Jersey’s auto insurance market as “once the nation’s poster child for the dangers of over regulation.” Donald S. Cleasby, the NAII’s assistant vice president and assistant …
While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s under reserved; burgeoning liability claims (asbestos, D&O, E&O, med-mal, …
While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s under reserved; burgeoning liability claims (asbestos, D&O, E&O, med-mal, …
The Professional Liability Underwriting Society’s 16th annual convention, held Nov. 9-11 in Philadelphia, featured a broad range of discussions on timely issues facing insurers, agents, brokers and the lawyers who represent them in an expanding and high profile field. Attendees …
Last July, David Schiff, editor and writer of Schiff’s Insurance Observer, wrote that John Hancock Financial Services’ CEO David D’Alessandro “should be fired” for taking approximately $21.7 million in compensation for 2002. He was one of the highest paid executives …
Oct. 27 was supposed to be the “day of decision” for the French Government to sign (or not sign) an agreement, reached between the U.S. Attorney General’s (AG) Office in Los Angeles and representatives of Credit Lyonnais (CL) and other …
Last July, David Schiff, editor, writer and guiding light of Schiff’s Insurance Observer, wrote that John Hancock Financial Services’ CEO David D’Alessandro “should be fired” for taking approximately $21.7 million in compensation for 2002. He was one of the highest …
A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new business opportunities. Now, as the …
