People who lived through Hurricane Ivan can’t forget the haunting images left by one of the strongest storms ever recorded: condo towers collapsed in roiling surf, splintered homes or flat slabs, fragments of highways lost in a sea of sand. …
Insurance is an under-used way for the tourism industry to manage the risks of climate change, with existing offers ranging from a “perfect weather guarantee” by Barbados to ski resorts promising deep snow, experts say. “Insurance products…have a huge potential …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Disaster Emergency Response Agency (CDERA) have signed a Memorandum of Understanding (MOU) formalizing a partnership to facilitate capacity building and to develop strategies for mitigating the physical and socio-economic impacts …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of “aa-” of Spain’s Ocaso, S.A. Seguros y Reaseguros, both with stable outlooks. “The ratings reflect the company’s superior risk-based capitalization, excellent operating …
The CGM Gallagher Group, one of the largest and oldest insurance brokers in the English-speaking Caribbean, announced that it has appointed William Tomlin as President following Thursday’s meeting of the Group’s board. Tomlin will also act as “senior advisor on …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of “B++’ (Good) and issuer credit rating of “bbb” of Bermuda-based Elwood Insurance Limited. Best said: “Elwood’s ratings recognize its excellent capitalization level, …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa” of Allianz S.p.A. (Italy), both with stable outlooks. The ratings reflect the enhancement received from the implicit support of Allianz S.p.A.’s …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb+” of Canada’s Echelon General Insurance Company. Best also affirmed the ICR of “bb+” of Echelon General’s publicly traded parent, EGI Financial …
Standard & Poor’s Ratings has lowered its counterparty credit and financial strength ratings on Bermuda-based R.V.I. Guaranty Co. Ltd. and its U.S.-based subsidiaries–R.V.I. America Insurance Co. and R.V.I. National Insurance Co.–to ‘BBB’ from ‘A-‘. S&P has also removed the ratings …
The European Union has joined the Caribbean Catastrophe Risk Insurance Facility’s (CCRIF) 16 member governments – Canada, the World Bank, the United Kingdom, Bermuda, Ireland, France and the Caribbean Development Bank – in donating to the facility’s reserve pool. The …
