Insurance Services Office, Inc. (ISO) has acquired 100 percent of NetMap Analytics LLC, a Columbus, Ohio-based software company that produces visual-link analysis technology used to detect fraud in insurance claims. The acquisition follows ISO’s purchase last year of a majority …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic occurrence; and what effect, depending on the …
Standard & Poor’s announced that it has upgraded its insurer financial strength and counterparty credit ratings on New Zealand-based NRMA Insurance NZ Ltd., formerly State Insurance Ltd., to double-‘A’-plus from double-‘A’-minus and removed them from CreditWatch. S&P put the company …
Boston-based Applied Insurance Research, Inc. (AIR), a leading catastrophe modeling firm, has released the 2002 versions of its earthquake and typhoon models for the Asia-Pacific region, in time for the April 1st renewals of reinsurance coverage for Japanese insurance companies. …
Holland’s ING Group announced that it’s continuing to make progress in bringing together its far flung banking, financial services and insurance interests under the ING brand name. The next step calls for all of its wholesale businesses to adopt the …
U.K. auto insurer Direct Line, a subsidiary of the Royal Bank of Scotland, has agreed to acquire the Italian auto insurance operations of Royal & Sun Alliance for £12 million ($17 million). Direct Line, which takes its name from its …
“Bankruptcy” and “Chapter 11” are inadequate terms to describe the carnage left in the wake of Enron’s collapse, which affected the lives of thousands of people, numerous banks and dozens of insurance companies. The tremors reverberate from the U.S. through …
In three separate, but related, actions A.M. Best Co. has affirmed the A- (Excellent) financial strength rating of QBE Reinsurance Europe, QBE International Insurance Ltd. and another subsidiary, Iron Trades Ins. Co. Ltd. (ITIC). Best also removed the QBE companies …
As more than a 100 individual fires continued to rage unchecked around Sydney and other parts of the Australian State of New South Wales, more homes and buildings have been destroyed, Australian insurers estimate that losses exceed U.S.$35 million with …
