New capacity enters the market, but terms and conditions not easy for many The rest of 2007 will continue to be a difficult time for developers and builders to secure builder’s risk insurance for their projects, at least in catastrophe …
But overall, construction market looks ‘optimistic,’ Willis exec says Today’s construction underwriters and their claim departments may not be following the same blueprint on issues of coverage interpretation for losses involving general liability and property damage claims, says Paul Becker, …
Farmers Insurance Group has been fined $750,000 for allegedly setting up incentives for auto insurance adjusters to underpay some claims and deny others, Insurance Commissioner Jim Poolman said. The fine is the largest the Insurance Department has ever imposed, Poolman …
Lancashire Insurance Co. Lancashire Insurance Co. Ltd. gained approval to provide insurance coverage on an excess and surplus basis for properties located in South Carolina. Lancashire intends to focus primarily on coastal windstorm and earthquake coverage for all classes of …
Today’s construction underwriters and their claim departments may not be following the same blueprint on issues of coverage interpretation for losses involving general liability and property damage claims, says Paul Becker, president of Willis North America’s Construction Practice. This “phenomenon,” …
The rest of 2007 will continue to be a difficult time for developers and builders to secure builder’s risk insurance for their projects, at least in catastrophe prone regions. But outside of coastal areas and California earthquake issues builder’s risk …
Risk Management Solutions has launched an extensive new model for earthquake risk in Europe, which it believes is the “most comprehensive model of its type.” It covers Austria, Belgium, Germany, Italy and Switzerland, as well as Liechtenstein and Monaco. “The …
Standard & Poor’s Ratings Services has assigned its ‘B’ senior secured debt rating to the $75 million class A, series 2007-I principal-at-risk variable-rate notes issued under the newly established shelf program, Nelson Re Ltd., sponsored by Glacier Reinsurance AG (Glacier …
A minor earthquake shook people on New Hampshire’s Seacoast last Wednesday night. The U.S. Geological Survey reports that the quake was centered in North Hampton. It registered as a magnitude 1.0. No damage was reported, but people called the police …
Standard & Poor’s Ratings Services’ Insurance 2007 conference, held June 3-5 in New York City, has yielded some valuable advice from three industry leaders on how to properly employ models. S&P noted that the increasing use of predictive modeling tools …
