Flagstone Reinsurance Holdings Limited announced that it has completed its initial capitalization of more than $715 million through a private placement of its equity securities. The bulletin notes that Flagstone Re “was formed in response to the significant market dislocation …
New York’s homeowners insurance market is either strong, stable or fragile depending upon whether the speaker is an agent or an insurer. Also, Allstate Insurance Co.’s decision to limit its business in eight counties in the state is either a …
Emergency officials and hurricane experts pointed out essential steps agencies should take to prepare for the hurricane season which begins in 90 days: Have a backup system up and running, and perform regular checks to make sure the systems work. …
The Bush Administration on Thursday released its review of The Federal Response to Hurricane Katrina. In the 228-page report, the Bush Administration notes that there were major flaws in the response on the government’s part to the disaster. More than …
The New York homeowners insurance market is stable, according to the Property Casualty Insurers Association of America. Kristina Baldwin, PCI’s regional manager, will testify to that effect Monday before a hearing of the New York Department of Insurance called to …
According to Lloyd’s newly released annual underwriter survey, “managing the insurance cycle as the most important challenge facing the global industry for the second year running.” The survey also found that “nearly 90 per cent of underwriters believe that windstorm …
In the final hours of the special session of the Louisiana Legislature, lawmakers sent to Gov. Kathleen Blanco Senate Bill 7, which would prohibit an insurer from using the floodwater mark without considering other evidence in determining whether a homeowners …
When underwriting for commercial properties, insurers need to obtain accurate insurance-to-value (ITV) calculations so they can charge the right premiums for the risks they assume. Adequate ITV is not an issue to be taken lightly. If insurers do not receive …
New York State’s largest provider of homeowners insurance should reconsider its decision to stop writing new policies in the metropolitan area over concerns about hurricane damage, according to Sen. Charles Schumer. “The chances of a Katrina-type hurricane hitting our area …
As is obvious from a perusal of newspaper articles and legal journals, the devastating damage throughout the entire Gulf Coast Region from the recent hurricane season has raised numerous legal issues regarding insurance coverage and recovery. Most issues arise from …
