Rains late in the growing season that inundated some cropland and pummeled rice and cotton plants caused an estimated $309 million in losses, according to economists at the University of Arkansas Division of Agriculture. The $309 million loss is equal …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on the following core subsidiaries of Bermuda-based Catlin Group Ltd. to ‘A’ from ‘A-‘: — Bermuda-based Catlin Insurance Co. Ltd. — U.S.-based Catlin Specialty …
Wells Fargo Insurance Services is pleased to announce Jennifer Schaeffer is a senior broker with the Professional Risk Group. Schaeffer will be based in San Francisco, Calif. She will focus on directors’ and officers’ liability insurance for both new and …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Swiss Reinsurance Company Ltd. and its subsidiaries. Best also affirmed all debt ratings issued by Swiss Re and its …
The Insurance Council of Texas (ICT) has elected Craig Sparks chairman of its board of directors beginning Jan. 1, 2010. Sparks has been president of the Union Standard Insurance Company in Irving since 2000. Sparks’ insurance career began the day …
The hard market for financial institutions (FI) insurance, which has seen insurers push premiums up at renewal by a minimum of 10 to 15 percent, is unlikely to last until the end of 2010, according to the latest Willis FI …
The risk and insurance services company, IMA Financial Group Inc., announced that Heather Otto has joined IMA’s Kansas City location as a sales executive. Otto has successfully managed client portfolios in a $1 million sales territory. She cultivates and maintains …
A.M. Best Co.’s review of the Bermuda market’s results finds these companies strongly capitalized; However, Best warned that they will “face significant challenges during the current phase of the insurance cycle.” Best said it “believes that companies also must consider …
The Independent Insurance Agents & Brokers of America (the Big “I”) named Lauren Cialone as senior director of federal government affairs and John Prible has been promoted to vice president of federal government affairs. Cialone previously served as a legislative …
A new Study – ‘Managing Supply-Chain Risk for Reward’ – sponsored by ACE and prepared by the Economist Intelligence Unit (EIU), concludes that, “while businesses claim supply-chain risks merit a high priority at board level, many still underestimate the potential …
