Japan’s Taisei Fire and Marine Life Insurance Co. filed for bankruptcy protection under the country’s rehabilitation regulations on Thursday, citing over $60 million in damage claims from aviation reinsurance coverage related to the Sept. 11 attacks on the U.S. While …
Michelle Duffett, co-owner of Insight Insurance Services Inc. of Geneva, Ill., will become the first female president of the Professional Liability Underwriting Society (PLUS) at the organization’s 14th Annual PLUS International Conference in Chicago Nov. 14-16. The outgoing president is …
The World Trade Organization opened its first plenary session since the disrupted talks in Seattle two years ago, as representatives from 142 member countries gathered in Doha, the capital of the Arab Gulf State of Qatar. A long list of …
Major reinsurer Swiss Re released findings from its latest sigma study, “Profitability of the Non-Life Insurance Industry: It’s Back to Basics Time,” which showed that the slumping non-life insurance market must improve premium rates and underwriting results in order to …
The Professional Liability Underwrit-ing Society (PLUS) will hold its 14th Annual PLUS International Conference in Chicago Nov. 14-16. Entitled The Challenge: Achieving Success, the 2001 Conference will focus on the changes the professional liability industry is currently experiencing and on …
The Hartford Financial Services Group Inc. reported an operating loss of $52 million for the third quarter of 2001, reflecting a $440 million loss related to the Sept. 11 terrorist attack. The results also reflect a $130 million federal tax …
Five months after an initial public stock offering, the controlling shareholders of international insurance broker Willis Group Holdings, led by management buyout firm Kohlberg Kravis Roberts & Co., have filed a registration statement with the SEC for a secondary public …
The latest in Swiss Re’s authoritative sigma studies examines the profitability of the non-life insurance market in the G7* countries and concludes that the industry needs to concentrate on improving underwriting results by getting “back-to-basics.” The study also focuses on …
National Indemnity Co., a wholly owned subsidiary of the Berkshire Hathaway Group, has concluded an insurance package with FIFA, soccer football’s governing body, to insure next summer’s World Cup Finals in Japan and Korea against risks of cancellation. NI replaces …
Wholesale withdrawal from terrorism coverage is shielding the U.S. insurance industry from widespread rating actions following the September attacks, but it leaves U.S. commerce highly vulnerable to any future acts of a similar magnitude, Standard & Poor’s stated. “In the …
