A.M. Best Co. announced that it has downgraded the financial strength rating to “D” (Poor) from “C+” (Marginal) of Doctors Benefit Insurance Company Ltd., which is located in St. Michaels, Barbados. The rating outlook is stable. “This rating action reflects …
An international manhunt for a fugitive sought in an alleged $20 million nationwide insurance fraud has ended with his arrest in Canada, according to federal and state authorities in California. A federal complaint filed in Sacramento charges the 58-year-old man …
Fitch Ratings announced that it has affirmed the “A” insurer financial strength rating of the Barbados/Bermuda-based Imagine Insurance Company Limited. The rating outlook has also been raised from stable to positive. “The affirmation and Positive Rating Outlook reflect Imagine’s track …
At least 9 persons were reported to have died on the Caribbean Island of Grenada, following a direct hit from Hurricane Ivan. A report from the BBC, delayed because of damage to communications facilities, said that 90 percent of the …
Hurricane Ivan continued its destructive path through the Southeastern Caribbean yesterday, pummeling Grenada, Barbados and Tobago with 120 mph (195km/hr) winds before moving back over open water. No deaths have so far been reported, but property damage has been severe …
Miami’s National Hurricane Center warned that Ivan is a “dangerous hurricane,” and is becoming “better organized as it rapidly approaches the Windward Islands,” triggering hurricane warnings. So far the storm remains far from the U.S. mainland. If it continues on …
Predictions of a “busy” hurricane season are proving all too true. While Frances is still churning the waters of the Gulf of Mexico off the Florida panhandle, Ivan continues to gather strength off the coast of Venezuela. The National Hurricane …
PXRE Group Ltd., based in Bermuda, announced that Mural R. (Joe) Josephson has been appointed to its board of directors, effective immediately. Josephson was appointed to fill the vacancy created by the resignation of Halbert Lindquist. Jeffrey L. Radke, the …
Barbados-based Everest Re Group Ltd. reported that it has received notice of termination with respect to its contract with American All Risk Insurance Services Inc. (AARIS). AARIS had been acting as the company’s insurance agency and produced the majority of …
The Barbados-based Everest Re Group, Ltd. reported, as a follow-up to its press release of June 16, 2004 (See IJ Website “West” June 17), that it has now received notice of termination with respect to its contract with American All …
