A.M. Best Co. has affirmed the financial strength rating of ‘A++’ (Superior) and issuer credit rating of “aa+” of French government backed reinsurer Caisse Centrale de Réassurance (CCR), both with stable outlooks. The ratings reflect CCR’s “superior risk-adjusted capitalization, good …
Five years ago, Hurricane Katrina caused an estimated 1,300 tragic deaths as well as $41.1 billion in insured losses across six states. Louisiana and Mississippi suffered the brunt of Katrina’s wrath followed by Alabama. As we commemorate this terrible event …
Breckenridge Insurance Services LLC was selected as the program administrator for CNA Select Risk’s Public Entity program in 16 western and Midwestern states. This program offers small and medium sized cities, towns, villages, counties and other special districts liability coverage …
The Texas Windstorm Insurance Association recently filed for 5 percent increases in both its residential and commercial rates, effective Jan. 1, 2011. While indications are those hikes won’t bring the rates for the state’s coastal insurer of last resort up …
The permanent disaster aid program in the 2008 Farm Bill was intended to spare Congress from having to scrape up extra money every time a drought, flood or hurricane struck farm country, but growers in the South claim the plan …
Many Americans admit to having a knowledge gap when it comes to what their home insurance actually covers, according to a new survey. Nearly one third (31 percent) of Americans don’t know how much their most valuable assets — their …
Federal officials have received nearly 10,000 applications for disaster assistance from seven Illinois counties hit by flooding last month. The Federal Emergency Management Agency is urging residents and business owners to apply for aid if they sustained damage or losses. …
A $20 billion compensation fund for economic victims of the BP Plc Gulf oil spill opens for business Monday amid accusations that the rules established by its administrator are unfair. Kenneth Feinberg who will run the fund said those who …
The rains deluging Tennessee abated on Thursday but forecasters are predicting that the same storm system will bring more rain to the region over weekend. Officials in Nashville are making plans for evacuations and sandbagging in case those measures should …
Extreme weather in 2010 will spur more strident calls for action to combat global warming but is unlikely to break a deadlock at U.N. climate talks about sharing the burden between rich and poor. Islamabad, for instance, has blamed mankind’s …
