A.M. Best Co. has downgraded the financial strength ratings (FSR) to D (Poor) from B (Fair) and issuer credit ratings (ICR) to “c” from “bb” of Tower Hill Preferred Insurance Co., Tower Hill Prime Insurance Co. and Omega Insurance Co. …
Miami-based First Commercial Insurance Co. and its subsidiary have been declared insolvent and ordered liquidated about six weeks after being placed under state control. All policies written by FCIC and its subsidiary, First Commercial Transportation and Property Insurance Co., are …
Private weather forecaster WSI Corp. said on Monday it still sees a quiet 2009 Atlantic hurricane season with conditions not conducive to an active year for violent storms. WSI’s updated forecast predicted a season of 10 named storms, five hurricanes …
Florida property insurers are warning residents 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 …
The latest bulletin from Risk Management Solutions describes Hurricane Bill making landfall in southeast Newfoundland as a weak category 1 hurricane. As of a few hours ago the storm was approximately 90 miles (145 kms) north-northwest of Cape Race Newfoundland …
The first hurricane of the 2009 Atlantic season may end up skipping past the United States, leaving insurers to hope that the next ominous storm clouds will come ashore with a silver lining. Insurers can face billions of dollars in …
Tropical Storm Claudette, the third of the Atlantic hurricane season, moved ashore along the U.S. Gulf coast early Monday, the U.S. National Hurricane Center said. Claudette formed early Sunday morning. The storm hit the coast near the eastern end of …
Florida insurer Homeowners Choice, Inc. reported that its net premiums nearly doubled to $19.6 million and its profit rose seven percent to $3 million in the second quarter, thanks in great part to its taking on policies from the state-backed …
The Atlantic could get its first named storm of the hurricane season later Wednesday, according to the U.S. National Hurricane Center. The basin’s second tropical depression is remaining just below tropical storm strength, the NHC said in its latest report …
The Colorado State University storm research team cut its 2009 Atlantic hurricane season forecast Tuesday, predicting that El Nino would trim the tally to 10 tropical storms, with four becoming hurricanes. The noted forecasting team founded by pioneering storm researcher …
