Willis North America, a unit of Willis Group Holdings, the global insurance broker, announced today that it has formed a Distressed Assets Practice to advise clients on managing the risks associated with financially distressed, foreclosed or abandoned properties and to …
A.M. Best Co. announced that it has affirmed the ratings of Chicago-based Chartis Specialty Insurance Company “in conjunction with its recent membership in the Lexington Insurance Pool. The company was previously a member of the Chartis U.S. Insurance Group. Best …
Christopher Branch, Head of Broker Relations at Beazley, speaking at the second day of BrokersLink’s second annual global conference in Portugal on Friday, urged underwriters to increase the utilization of the specialist skills and local knowledge provided by broker networks …
Owners of nearly 800 properties in a western Indiana town could be forced to buy flood insurance unless the town can provide federal officials proof that its levee system will provide protection. The Federal Emergency Management Agency plans to end …
Massive flooding in southern China has killed 132 people and forced 860,000 to flee their homes, and more storms were forecast, the government said Sunday. Another 86 people are missing and more than 10 million people have been affected since …
Bailed out insurer American Insurance Group and China Strategic Holdings Ltd have agreed to extend the deadline for completing AIG’s planned $2.2 billion sale of its Taiwan unit. While the extension could help AIG and its buyers address concerns from …
Insurers are issuing catastrophe bonds again to complement traditional and cheaper reinsurance and to spread the risks in buying protection against events that could cost them tens of billions of dollars in claims. The nascent cat bond market froze for …
Recent severe flooding in Oklahoma, on top of extensive damage caused by violent storms in May, have caused headaches for property owners and insurers alike in that state. The June deluge caused additional to homes of some residents still waiting …
Chubb Syndicate 1882 at Lloyd’s has lost no time in concluding its first piece of business, a marine hull risk. The syndicate was formally approved at the beginning of June (See IJ web site – https://www.insurancejournal.com/news/international/2010/06/02/110392.htm). Rob Cage, active underwriter …
Birmingham, Ala,-based CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T, has signed an agreement with TB&C Wholesale Insurance Services to combine two of the California offices of both companies. The combined offices will operate as CRC Insurance Services …
