The American Association of Insurance Services (AAIS) has added three new positions to its staff. Scott Sheldon, an auto insurance product manager who spent 13 years with GEICO, has been named vice president for auto insurance at AAIS, where he …
The U.S. medical professional liability (MPL) market has been profitable in recent years but challenges await MPL insurers because an influx of newly insured patients, coupled with health care delivery system changes, could expand the risks MPL insurers face. The …
A bipartisan group of U.S. senators is introducing legislation that would give the Federal Reserve more flexibility in regulating systemically important insurance companies such as American International Group Inc. The Senate bill, whose sponsors include Ohio Democrat Sherrod Brown and …
Florida Gov. Rick Scott is asking that the federal government declare a disaster due to floods that caused extensive damage in the Panhandle. The state estimates there was $29 million worth of damage caused by the heavy rains that fell …
Ironshore Inc. has created a new management team to serve as industry practice leaders. These leaders will be for business lines that the company says increasingly demand new products that address distinct industry-specific risks and include energy, construction and personal …
Warren Buffett’s Berkshire Hathaway Inc. will reinsure about €700 million ($930 million) in claims for Ireland’s state health insurer, which is seeking to stem losses and its burden on taxpayers, as the population ages. Vhi Healthcare and Omaha, Nebraska-based Berkshire …
XL Group and private equity firm Stone Point Capital LLC have announced the formation of a new Bermuda-based company to act as an investment manager in insurance-linked securities (ILS) and other reinsurance capital markets products. XL said it “has a …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based Everest Reinsurance and its reinsurance and insurance affiliates. Best also affirmed the ICRs of “a-” of Everest Re …
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 Catlin Insurance Company Limited (CICL), based in Bermuda, Catlin Insurance Company (UK) Ltd. and Catlin …
The driver of a Spanish train that derailed, killing at least 80 people, was under police guard in hospital on Thursday after the dramatic accident which an official source said was caused by excessive speed. The eight-carriage train came off …
