California’s Second District Court of Appeals has decided that an insurance broker owed a legal duty of care to a third-party after an insurer refused to pay claims under an express policy exclusion. The case, Business to Business Markets Inc. …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Singapore Reinsurance Corporation Limited (Singapore Re) with a stable outlook. “The ratings reflect the company’s strong capitalization, …
“United States-based companies with business interests abroad will not be trading in a safer world in 2006,” according to Aon’s newly published annual global business risk analysis represented in its 2006 Political & Economic Risk Map. Aon said the “map …
Euler Hermes ACI, a provider of trade credit insurance and risk mitigation information, has released a special global risk analysis report from its U.S. headquarters in Maryland. The company, a subsidiary of French insurer AGF, which is in turn part …
Munich Re has released the results of a “loss inspection” conducted on the West Coast of Thailand to assess the consequences of the devastating tsunami, which struck the area one year ago. Experts from the reinsurer’s Geo Risks Research team …
Oil-storage tanks in South Portland and paper mills in other parts of Maine would be among the facilities subject to additional safety standards if federal legislation to be introduced this week is enacted. U.S. Sen. Susan Collins, the Maine Republican …
Ever since Hurricane Katrina devastated New Orleans, 2005 looked certain to be a record-breaking year for insured losses. Swiss Re’s newly issued sigma report has now confirmed the sad fact. According to preliminary estimates (the full and exact figures won’t …
A report from Dow Jones Newswires indicates that India’s Insurance Regulatory and Development Authority has recommended that the government raise the foreign direct investment limit in the insurance sector to 49 percent from 26 percent. The report notes that in …
The last minute compromise agreement reached in the latest World Trade Organization negotiations in Hong Kong enabled the trade delegations of the various countries involved to put on a brave face. The industrialized world – mainly the U.S., Europe and …
Members of the National Association of Insurance Commissioners have elected Maine Insurance Superintendent Alessandro Iuppa as president. They also elected regulators from Alabama, Kansas and New Mexico to key positions at the organization’s 2006 officers during the Association’s Winter National …
