A.M. Best Co. has assigned a debt rating of “bb+” to the Senior Secured Credit Facility of up to $375 million due February, 2012 of Concord Re Limited (the issuer), a newly created Bermuda exempted, limited-life special purpose Class 3 …
With the first anniversary of Hurricane Katrina one week away, the American Insurance Association (AIA) has unveiled a National Catastrophe Agenda designed to reinforce resilience to catastrophic hurricanes. But not everyone, including Allstate Insurance, agrees the AIA plan is the …
Zack Cooper & Associates Insurance Agency, Commerce, Calif., has recently merged with RA Higgins Insurance to form New Ireland Ltd., which is the exclusive representative of comprehensive asset protection plans designed for the property owner or for professional property management …
One year after Hurricane Katrina swept across the Gulf Coast, the Academy of Florida Trial Lawyers (AFTL) and the Association of Trial Lawyers of America (ATLA) are launching a national petition drive calling on insurance companies to put policyholders over …
Nearly 7,000 Alaskans will lose their earthquake insurance as their policies come up for renewal in the coming months. Allstate Insurance Co. is cutting its optional earthquake coverage nationwide, and will drop this plan as policies come up for renewal, …
A federal judge’s ruling that damage from wind-driven water isn’t covered on standard homeowner policies should motivate more Mississippians to purchase flood insurance, says state Insurance Commissioner George Dale. The purchase of policies through the National Flood Insurance Program is …
A.M. Best Co. has assigned debt ratings to two debt issues from Shackleton Re Limited, a newly created Cayman Islands exempted company licensed as a restricted Class B insurer. Both issues are designed to act as back-up security for Bermuda’s …
Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced that it has opened a new office in Taipei, Taiwan, “enhancing its leading position in the Asia Pacific region.” The bulletin also …
More than 160 deaths blamed on California’s recent heat wave prompted officials to begin a study of the impact of extreme heat and global warming on the health of Californians. The state Department of Health Services announced it received a …
A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack of available property insurance for catastrophic risk …
