Failure to handle claims within specified time frames and using unapproved forms and rates are the top two criticisms of property/casualty insurers by market conduct regulators, according to a new report. Waltham, Mass.-based Wolters Kluwer Financial Services reported its annual …
Commercial property insurance buyers could see prices fall from 10 to 20 percent on non-catastrophe risks in 2014 thanks to the influx of alternative capital to the insurance industry, insurance and reinsurance broker Willis Group Holdings says in its updated …
The partial shutdown of the U.S. government has sidelined thousands of inspectors who monitor everything from air and water pollution to safety hazards at factories and the condition of nursing homes. Federal law requires agencies to retain workers whose jobs …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Sweden’s Sirius International Insurance Corporation (publ) and the ICR of “bbb” of its upstream intermediate …
According to catastrophe modeling firm AIR Worldwide, after pounding Okinawa with the outer reaches of its 184 km/h [114 mph] winds Monday evening local time, Typhoon Danas has weakened to tropical storm strength and it is passing through the Korea …
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has released its latest monthly Global Catastrophe Recap report for September, which tallied the economic costs for the month at $15 billion, a figure which Aon Benfield said …
Catalina Holdings (Bermuda) Ltd. announced that it has completed its acquisition of American Safety Reinsurance, Ltd. (AS Re), from Fairfax Financial Holdings Limited, following approval from the Bermuda Monetary Authority. “AS Re will be consolidated into Catalina’s existing operations in …
War and sanctions are taking an increasing toll on Syria’s vital sea-borne trade, with fewer vessels calling at its cargo ports as ship-owners shy away from the risks associated with a conflict now in its third year. The slowdown in …
Liberty International Underwriters (LIU) has partnered with program administrator PGI Commercial to offer LIU Environmental coverages under a new program administrator agreement. PGI Commercial’s clients now have access to: Expanded capacity LIU Environmental’s suite of products LIU’s experience in identifying …
Representatives of a car parts manufacturing company say they’ve remedied several issues and have increased training after receiving the most federal safety violations in Georgia. The Atlanta Journal-Constitution reported Sunday that Sewon America, which manufactures components for Kia, has been …
