Coastal Property – Texas Nuts & Bolts: Western Security Surplus has increased capacity to write coastal property coverage in Texas, including wind and hail, Tier 1 and 2 counties. The property coverage is offered via a non-admitted “A” rated market …
ICAT Holdings, Lloyds ICAT Holdings LLC of Boulder, Colo., created a new underwriting syndicate at Lloyd’s of London, designated as ICM Syndicate 4242, to support underwriting of U.S. catastrophe-exposed properties. ICM Syndicate 4242 will begin underwriting business on Jan. 1, …
Monoline Auto Classes, Small Commercial Businesses Nuts & Bolts: Zurich’s small business agents now have more than 500 monoline auto classes to sell. The company announced it has opened 257 existing America Premier classes for monoline auto and added 238 …
The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent government report suggesting that TRIA should not …
Allstate Insurance Co., continuing its reappraisal of its hurricane loss exposure along the East Coast, has decided to stop writing new property insurance policies in all areas of Connecticut, New Jersey and Delaware. The stoppage applies to the writing of …
Risk Management Solutions, Newark, Calif., announced that Mary Lou Zoback has joined the firm as vice president of earthquake risk applications. A 28-year veteran of the United States Geological Survey (USGS), Zoback is a geophysicist recognized for her work on …
ICAT Holdings LLC announced the creation of a new underwriting syndicate at Lloyd’s of London, designated as ICM Syndicate 4242, to support the company’s underwriting of catastrophe-exposed properties throughout the United States. ICM Syndicate 4242 will commence underwriting business on …
Boulder, Colo.-based ICAT Holdings LLC has created a new underwriting syndicate at Lloyd’s of London, designated as ICM Syndicate 4242, to support the company’s underwriting of catastrophe-exposed properties throughout the United States. ICM Syndicate 4242 will commence underwriting business on …
The Hartford Financial Services Group has purchased $247.5 million in multi-year, collateralized reinsurance from Foundation Re II Ltd., a special purpose reinsurance company – commonly known as a “sidecar” – incorporated in the Cayman Islands. “Foundation Re II financed the …
Investors who bet against the odds of another devastating Atlantic hurricane season now stand to cash in big-time on “catastrophe bonds.” Contrary to expert predictions, the season turned out to be the mildest in years. Insurance companies sell the bonds, …
