According to catastrophe risk modeling firm AIR Worldwide, a powerful 7.1 magnitude earthquake struck off the coast of Honduras early Thursday morning. AIR said “the earthquake hit at 3:24 a.m. local time (08:24 UTC) 39 miles (64 km) northeast of …
Los Angeles felt a 4.1 magnitude earthquake over the weekend, emphsizing the need for consumers to prepare for disaster and evaluate their individual needs for earthquake insurance. “Disaster will strike when you least expect it,” said California Insurance Commissioner Steve …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and issuer credit ratings to “bbb+” from “a-” of Georgia Farm Bureau Group and its members, Georgia Farm Bureau Mutual Insurance Company and Georgia Farm …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb+” of Canada’s Echelon General Insurance Company. Best also affirmed the ICR of “bb+” of Echelon General’s publicly traded parent, EGI Financial …
Demand for disaster derivatives is surging as insurers seek alternatives to scarce reinsurance and expensive catastrophe bonds, with the forthcoming North Atlantic hurricane season likely to give a further boost. Prices are at record levels for Industry Loss Warranties (ILWs) …
Two new studies suggest the Lake Tahoe region in California and Nevada has gone longer than usual without a large earthquake and may be due for a magnitude-7 temblor capable of spawning a tsunami that could flood shoreline communities. The …
A wildfire that began on May 5 in Santa Barbara County, Calif. — during Wildfire Awareness Week May 3-9 — continued to burn as of press time, having burned 8,733 acres and destroyed 77 residences as of May 10, 2009, …
San Diego, CA, 05/13/2009 – ARROWHEAD General Insurance Agency, Inc. announced that its board of directors has elected Steve Bouker as president of Arrowhead, effective May 1, 2009. Bouker joined Arrowhead in 2000 and currently serves as president of Arrowhead’s …
Hurricane season is just weeks away, but many south Louisiana parishes cannot show their disaster plans cover evacuation of at-risk populations such as the disabled, the homeless and the elderly, according to the Disaster Accountability Project, a student-led watchdog group. …
Consumer Advocates Focus on How Insurers Treat Insureds in Difficult Economic, Credit Climate With consumers’ credit scores dropping as lenders tighten credit terms, insurance consumer advocates are stepping up their criticism of the use of credit scores by insurance companies. …
