The National Association of Insurance Commissioners (NAIC) has announced that Brett T. Palmer has joined the Government Affairs office in Washington, D.C. as managing director of government relations. In his role as managing director, Palmer will represent NAIC members before …
The Calif.-based PMI Group Inc. has announced the appointment of Lynn Odland as an independent director to the PMI Australia Group Boards. The PMI Australia Boards include PMI Holdings (Aust) Pty Ltd., PMI Mortgage Insurance Ltd. and PMI Indemnity Limited. …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of new Zealand’s Tower Insurance Limited and the issuer credit rating (ICR) of “bbb-” of Tower Limited. The outlook for both ratings has been revised …
Zurich Financial Services Group announced that its Australian entities Zurich Financial Services Australia Limited (ZFSA) and Zurich Australian Insurance Limited (ZAIL) have reached “Enforceable Undertakings with both the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission …
Aon Re China Limited, a unit of Aon Corp., has secured 100 percent placement of the first agricultural reinsurance contract in China. The contract was awarded by the Shanghai Anxin Agricultural Insurance Co. Ltd. (AAIC), the first specialized agricultural insurance …
Standard & Poor’s has published an analysis of the current state of the Australian P/C industry. The rating agency noted: “The softening insurance cycle has entrenched itself in commercial lines in Australia. Premium rate reductions between 5 percent and 20 …
The Australian Prudential Regulation Authority (APRA), which regulates the country’s insurance industry, is proposing tighter reporting requirements in order to enable the regulator to more closely scrutinize the financial condition of individual companies. The widely expected move comes in the …
World leaders and ordinary citizens paused over the weekend to commemorate three tragic events that marked the 20th century. While they now seem remote in time, and have little direct connection with the insurance industry, they form a part of …
Regardless of whether or not the U.S. Federal Government authorizes an extension to TRIA (Terrorism Risk Insurance Act) beyond the end of this year, terrorism remains a very real threat and should not be ignored. According to Aon’s 2005 Terrorism …
Ireland’s FINEOS Corporation, a provider of banking and insurance software, announced that Ireland’s information and communications technology (ICT) industry has named the company as “Vendor/Manufacturer of the Year” at the ICT Excellence Awards 2005. The award was presented to FINEOS …
