Insurance markets for coastal properties continued to challenge insurers, agents, policymakers and property owners, despite an inactive hurricane season. For the most part, while policymakers debated, private markets went about their business. Insurers writing in the Atlantic and New England …
The next time famed attorney Richard Scruggs appears in court it may be to protect his own reputation rather than to question that of an insurance company. He has had a forum to bash insurers for two years but Scruggs …
$247 Billion U.S. tort costs totaled $247 billion in 2006, which is $57 less per person than in 2005 at approximately $825 per person, according to an update on U.S. Tort Cost Trends from the Tillinghast insurance consulting practice of …
Using a simplified forecasting technique, researcher William Gray is predicting an above-average hurricane season in the Atlantic next year, with seven hurricanes, three of them major. Gray’s team at Colorado State University had called for above-average storm seasons the past …
Standard & Poor’s Ratings Services has raised its long-term local currency counterparty credit and insurer financial strength ratings on Thai Reinsurance Public Co. Ltd. (Thai Re) to ‘A-‘ from ‘BBB+’ and assigned a stable outlook. “This upgrade reflects the company’s …
Funds fulfill statutory promise to protect policyholders At the heart of every property and casualty insurance contract lies a promise to soften the blow of misfortune. But what happens when an insurance company becomes financially troubled, fails and is no …
Another very profitable year for commercial lines insurers, sparked by yet another exceptionally mild hurricane season, is emerging for the entire U.S. property/casualty industry, says Standard & Poor’s Ratings Services. An article recently published by S&P, “2008 U.S. Commercial Lines …
Despite alarming predictions, the U.S. came through a second straight hurricane season virtually unscathed, raising fears among emergency planners that they will be fighting public apathy and overconfidence when they warn people to prepare for next year. Friday marks the …
Florida has been spared landfall by a hurricane for a second consecutive year, but residents should not be lulled into a sense of false security, cautions Sam Miller of the Florida Insurance Council. The 2007 hurricane season produced two category …
Maybe money can’t buy happiness, but it can certainly improve the bottom line. Munich Re has just announced a €3.348 billion ($4.843 billion) profit for the first nine months of 2007, a 17.5 percent increase, which puts it on track …
