Bruce Burdett, an insurance executive with 38 years of industry experience, has been named president of Statewide Operations for Texas-based Frost Insurance, the insurance subsidiary of Frost Bank. Burdett joined Frost Insurance in July 2005. Most recently, he held the …
French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax, which “represents approximately 3 percent of the projected …
When the swollen Red River threatened his house in Moorehead, Minn., last spring, all Mark Baumgardner could do was pack up, leave and hope he wouldn’t lose everything, since didn’t have flood insurance. In the end, his house was spared. …
XL Capital Ltd’s preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia indicated they will total between $160 and $230 million. Preliminary loss estimates related to the Chilean Earthquake, pretax and net of reinsurance and reinstatement …
Oklahoma Senate Republicans are continuing their push to completely overhaul Oklahoma’s workers’ compensation laws, arguing the system is too expensive for businesses. The Senate Judiciary Committee has approved a half-dozen workers’ compensation bills, most of which drew opposition from Democrats …
The Bermuda Monetary Authority (BMA) has exchanged Letters of Cooperation with the Swiss Financial Market Supervisory Authority (FINMA). The Letters “formally establish the basis for consultation, cooperation and coordination between the Authority and FINMA,” the bulletin explained. “They set the …
The Army Corps of Engineers will begin taking proposals next month for permanent replacements for pumps and floodgates at the three canals where waters poured into New Orleans after Hurricane Katrina, officials said March 16. An agreement that accommodates proposals …
Lawyers seeking civil damages against Toyota Motor Corp. on behalf of U.S. consumers for diminished resale value of recalled vehicles are broadening their cases to add racketeering claims against the automaker. Using federal racketeering laws to amend the consumer class-action …
The Texas Fifth District Court of Appeals in Dallas issued an opinion on March 16, 2010, ruling that sanctions imposed against Texas Mutual Insurance Company related to a workers’ compensation case were improper. The company announced that the appeals court …
Mobile’s fire-rescue chief says a downgrade in fire protection rating is likely to boost insurance premiums the most for homeowners just outside the city limits. Fire-Rescue Chief Steve Dean said that while city residents also could see their premiums rise, …
