The Florida Hurricane Catastrophe Fund Advisory Council recently presented its 2008 October bonding estimates, rattling the nerves of insurers in the process. While David Sampson, president and chief executive officer of the Property Casualty Insurers Association of America, recognizes that …
In a newly published article – Global Insurers Weather The Credit Turmoil–Thus Far – Standard & Poor’s credit analysts have concluded that “many of the largest insurers around the world will be generally less affected by the ongoing credit market …
The Property Casualty Insurers Association of America (PCI) said it was disappointed by New York regulators’ decision to deny most auto insurers’ rate increases based on the assumption that higher gas prices would mean lowered risks to insurers. Earlier this …
Balance sheet pressures for insurance and reinsurance companies globally have become more severe as insurers experience greater unrealized market value losses, and take impairments, on their investment portfolios, says Fitch Ratings. As such, Fitch analysts expects a noteworthy ramp up …
The global credit crisis claimed its first Japanese financial institution on Friday and the government looked to prop up smaller banks, as Tokyo shares suffered their biggest rout since a 1987 crash. Government ministers played down the risk of contagion …
For the second straight year, data gathered by State Farm Insurance shows that vehicles are most likely to collide with deer in West Virginia — a one in 45 chance. That’s up from a year ago when the odds were …
U.S. life insurers Lincoln National Corp. and ACE Ltd reassured investors that they have enough capital, but credit rating agency Standard & Poor’s cut its outlook for the industry on Friday. The Progressive Corp. reported a net loss of $684.2 …
European insurance shares rose sharply on Thursday, as Dutch insurer Aegon announced steps to boost capital and reduce risk, while British peer Aviva Plc bolstered its hedges against slumping stock markets. Aegon, which has seen its share price sliced in …
The Maryland Automobile Insurance Fund (MAIF) has been granted a 45-day deferral of a decision that might have allowed MAIF to reduce rates by nearly five percent, according to Maryland Insurance Commissioner Ralph S. Tyler. Executives of the state fund …
Winds from Hurricane Ike will cost insurance companies at least $553.1 million to cover property damage and other losses in Ohio, making it the state’s most expensive natural disaster in more than three decades, a trade group said October 7. …
