Wisconsin Insurance Commissioner Sean Dilweg will hold a hearing Sept. 14 on the use of consumer credit information in personal lines insurance policies. The public hearing with invited testimony will take place beginning at 10:00 a.m. at the Wisconsin State …
Fairfax Financial Holdings Ltd. said Tuesday it will sell $1 billion in stock to fund the purchase of the Odyssey Re Holdings Corp shares that it does not already own. [IJ Note: Neither Standard & Poor’s nor A.M. Best expect …
Neither Standard & Poor’s Ratings Services, nor A.M. Best anticipate any changes in their ratings on Toronto-based Fairfax Financial Holdings Ltd. As a result of the Company’s announced decision to acquire all of the outstanding shares of Odyssey Re Holdings …
Aon Benfield and PartnerRe have released their annual re/insurance industry report, Hazard & Risk Science Review 2009, which showcases the latest developments in the field of natural hazard and risk science. The Review, which is co-sponsored by Aon Benfield and …
Senate Finance Committee Chairman Max Baucus has circulated a healthcare reform proposal he hopes will win support from both Democrats and Republicans. The proposal is based on weeks of intense negotiations by a bipartisan group of six Finance Committee members …
Property/casualty insurance companies report that the number of claims suspected of possible fraud has jumped 13 percent for the first half of this year compared to last year’s first six months. A review of suspicious insurance claims referred to the …
The House of Representatives passed HR 2571, the Non-Admitted and Reinsurance Reform Act of 2009 on Wednesday. The bill, authored by Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J, will simplify the tax remittance and compliance responsibilities surplus lines brokers …
Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Bermuda-based IPC Holdings Ltd. to ‘BBB-‘ from ‘BBB’ and removed it from CreditWatch, where it was placed on June 16, 2009, with negative implications. S&P then withdrew its …
Missouri Gov. Jay Nixon has re-appointed Jack D. Atterberry of Jefferson City to the Workers’ Compensation Determination Review Board. The board reviews determinations by an insurer or advisory organization regarding uniform code classifications, basic manual rule interpretations, uniform experience rating …
Eleven of the world’s biggest reinsurers will work to find common positions on tax, solvency, accounting and other rules and avoid being tarred with the same regulatory brush as banks, the group said late on Sunday. “The questions we face …
