The Texas Windstorm Insurance Association recently notified agents that its waiver surcharge program for residential dwellings has been extended to Sept. 1, 2009. June 1 marked the third anniversary of the residential waiver program in its current status, with the …
Property/casualty insurers and reinsurers rely more than ever on the expertise of actuaries at a point in the cycle when the market is neither softening nor hardening, attendees at the CAS Seminar on Reinsurance were told in a wide-ranging panel …
The head of Colorado’s state-created workers’ compensation insurance company says the organization could do a better job if it were privatized. CEO Ken Ross told state lawmakers that Pinnacol Assurance has paid $347 million in dividends to policyholders since it …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the Bermuda-based Everest Re Group, Ltd.’s reinsurance and insurance subsidiaries. Best also affirmed the ICR of “a-” of Everest …
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, …
Some property/casualty insurers might be in for a rude awakening with respect to their reserve practices, according to industry experts. The property/casualty insurance sector’s ability to properly estimate its loss and loss-adjustment expense reserves directly affects its financial strength, noted …
According to findings of a survey released today by global management consulting firm Accenture, nearly two-thirds (62 percent) of insurers plan to grow outside of their home market in the next 12 months. The survey queried “more than 100 leading …
Massachusetts-based medical liability insurance company Medical Professional Mutual Insurance Co., known as ProMutual, will acquire medical liability insurer and risk management company FinCor and its subsidiaries. ProMutual, a member of ProMutual Group, said it is is acquiring Lansing, Michigan, based …
Swiss Re reported it is now offering lead umbrella insurance coverage to retail brokers and risk managers in the United States. The umbrella coverage from Swiss Re’s Industrial Risk Insurer (IRI) is available on an admitted basis in 46 states …
Ronald Krebs has joined the Alternative Risk Transfer Services Team in South Carolina’s insurance department, where he will be responsible for the application processes from submission to licensing captive insurance companies and risk retention groups. Krebs brings with him 35 …
