The National Hurricane Center is considering adding a storm-surge warning to its list of watches and warnings issued during hurricane season. Center officials floated the idea of a storm-surge warning to a crowd of emergency managers, first responders and meteorologists …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of VICTORE Insurance Company (VIC) of Oklahoma City, both with stable outlooks. The ratings reflect VICTORE’s current “modest underwriting leverage, sound balance …
Los Angeles-based Farmers Insurance Group of Companies announced a new partnership with the American Red Cross. Called “Ready When the Time Comes,” this is a program which prepares volunteers to assist during local, large-scale disasters. Farmers will be the lead …
Haiti is a place where Willis Group Holdings plc, the global insurance broker, does little or no business. Among its 17,000 employees worldwide, the firm says only one was known to come from Haiti. But still, the company’s employees responded …
For the first time in many years the first quarter 2010 results of reinsurers will be worse than the results of their primary insurance company clients thanks in part to unprecedented catastrophe losses. Some $16 billion in losses due to …
An idyllic, pasture-like setting is not the only green image agribusiness owners would like the public to imagine when they picture their operations — they increasingly want to be known for their “green” environment-friendly buildings, too, according to Scott A. …
The Bermuda-based Catlin Group Limited has given preliminary estimates of the financial impact of the Chilean earthquake – around $140 million – and Windstorm Xynthia – less than $10 million. Catlin noted that the current estimates of the insured damage …
Risk Management Solutions announced that it has reached an agreement with Asia Capital Reinsurance Group (ACR) that they will work together to “develop catastrophe risk models enabling ACR to apply the models of particular relevance to the Asian market.” RMS …
The Bermuda-based Argo Group International Holdings announced that it expects its initial loss estimate from first quarter 2010 catastrophe events that have occurred to date will be $25 to $35 million, net of reinstatement premium and tax benefits. Argo said …
The devastating effects of Hurricane Ivan in the summer of 2004, when it crossed the Caribbean Sea causing major damage in Grenada, Jamaica and the Cayman Islands, produced one good thing. The Caribbean Community and Common Market (CARICOM) heads of …
