Hurricane researchers are now waying that this year’s hurricane season won’t be as bad as predicted and said a monster storm like Katrina is unlikely. “The probability of another Katrina-like event is very small,” said Phillip Klotzbach, lead forecaster for …
Some 150,000 Texas homeowners will be affected by the liquidation of Vesta Fire Insurance Co. and its Texas subsidiaries by the Texas Department of Insurance, but the situation seems to be not as dire as previously thought. The company was …
A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack of available property insurance for catastrophic risk …
Reinsurance woes send primary carriers scrambling Until recently the reinsurance world was a galaxy far, far away. That changed after the 2000 stock market crash, the Sept. 11 attacks and, more recently, the hurricanes that struck Florida, New Orleans, Texas …
For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal regulation of the industry, which poses fundamental questions. …
Companies step up to take Texas Select policyholders Some 150,000 Texas homeowners will be affected by the liquidation of Vesta Fire Insurance Co. and its Texas subsidiaries by the Texas Department of Insurance, but the situation seems to be not …
So, think there’s limited competition around service in personal lines? Think again. Northeast insurers are tripping over themselves to herald their latest service features, which is good news for agents and consumers. Consider these recent events: Hail to Mt. Washington …
The marine market, although not immune to severe weather and other catastrophic occurrences, has not suffered to the extent of the mainline commercial property sector. A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” …
Few state insurance commissioners have spoken out on national issues as frequently as New York Superintendent of Insurance Howard Mills. In this interview with Insurance Journal’s Andrew Simpson conducted at the recent meeting of the National Association of Insurance Commissioners, …
Renaissance Re, Bermuda’s leading property catastrophe reinsurer, posted net income of $130.4 million, or $1.81 per common share, for the second quarter of 2006, compared to net income of $172 million or $2.39 per common share for the same quarter …
