Thanks to El Nino, the 2009 Atlantic hurricane season has been the quietest in more than a decade, offering a reprieve for residents in the danger zone and a chance for insurance firms to refill depleted coffers. With the peak …
Leon County Circuit Court Judge John C. Cooper has granted a request by state insurance officials to place American Keystone Insurance Co. in Ponte Vedra Beach into state receivership to be liquidated. American Keystone (AKIC), a Florida insurer licensed in …
The catastrophe bond market is poised for an active fourth quarter in 2009, according to a new report. The report by Guy Carpenter & Co., LLC, and GC Securities, a division of MMC Securities Corp. concludes that a number of …
Nationwide Insurance Co. of Florida plans to reduce its personal lines property exposure in the state of Florida by nonrenewing 60,000 homeowners policies across the state. Nationwide said that Tower Hill Group, a Florida based homeowners insurance company, has agreed …
By the time this issue of Insurance Journal reaches your desk, we will be well over halfway through hurricane season for 2009. Though it’s too early to breathe a sigh of relief — hurricane Rita struck Southeast Texas/Southwest Louisiana in …
Tornadoes that occur from hurricanes moving inland from the Gulf Coast are increasing in frequency, according to researchers at the Georgia Institute of Technology. This increase seems to reflect the increase in size and frequency among large hurricanes that make …
Florida property insurers are warning that a major hurricane is likely this season given the state’s history of storms. At the same time, the industry says, the state-backed catastrophe reinsurance fund, the Florida Hurricane Catastrophe Fund, and the state’s property …
As the 2009 Atlantic hurricane season enters its peak period, the finances of a number of residual market property plans in hurricane-exposed states are on shaky ground. The credit crunch and prolonged economic downturn have exacerbated the already vulnerable financial …
Now that the hurricane season is well underway, Louisianans remember when Katrina came ashore, late in August 2005, with a storm surge that eventually flooded New Orleans and leveled many Gulf Coast towns, costing more than 1,500 lives and causing …
Two years into the global financial crisis, global reinsurers’ performance to date could be counted as an achievement, given the state of the financial services industry and the economy, says A.M. Best. The reinsurance industry entered 2009 with sound underwriting …
