“Non-life insurance premiums are flat or declining while claims costs are escalating in Western Europe’s major markets,” said a bulletin from A.M. Best. “Meanwhile, life insurers’ growth is threatened by turmoil in the credit and equity markets. In Central and …
A number of Bermuda-based insurers and reinsurers are due to start publishing their third quarter results at the end of the month. They will detail a combination of losses from the current hurricane season, as well as investment losses and …
The Port of New Orleans approved a $97.5 million settlement with a major insurer over damages the port sustained during Hurricane Katrina. The port said Johnston, R.I.-based FM Global had insured it for up to $145 million in hurricane damage …
Identity Theft Rules to Take Effect on November 1 New federal “Red Flag” regulations will soon require businesses of all sizes to have identity theft and data breach protections in place. By Nov. 1, 2008, the date at which the …
The California Department of Insurance has added Ironshore Specialty Insurance Co. (ISIC) to its List of Eligible Surplus Lines Insurers (LESLI listing). ISIC will provide specialty commercial insurance coverages on an excess and surplus basis for risks located in California. …
Insurers are not allowed to bring equitable subrogation actions premised on professional negligence against attorneys, the Colorado Court of Appeals ruled. According to State Farm Fire and Casualty Co., as subrogee of Running Bear Homeowners Association v. Robert G. Weiss …
The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment returns, according to A.M. Best Co. As a …
Mercury General Group topped the list of least complained-about auto insurers in New York last year, according to a newly released ranking by the state’s insurance department. Mercury, which has just over $32 million in written premium in the state, …
In the wake of criticism by key Florida lawmakers, the state-backed property and casualty insurer, Citizens Property Insurance Corp., is backing off plans to seek a new, larger office complex that once included a gymnasium, cafeteria and concierge service. Two …
FM Global, one of the world’s largest commercial property insurers, has made numerous promotions and reassignments within its senior management team that are to become effective Jan. 1, 2009. Brian J. Hurley, executive vice president of FM Global’s North and …
