After Decades of Discussion, States Adopt 3-Tired Plan Though it may seem like the debate over the creation of a national catastrophe insurance plan is a relatively recent phenomenon, the National Association of Insurance Commissioners actually began addressing the issue …
White Paper Approved at Fall Meeting with Near-Unanimous Vote The private insurance industry alone ‘cannot be expected to provide comprehensive catastrophe coverage without adequate financial backstops for the most extreme events.’ Although it may seem like the debate over the …
The New York Insurance Department has signed a cooperation agreement with its counterpart in El Salvador, the latest in a string of similar agreements with insurance regulators in foreign countries. The agreement calls for increased cooperation on insurance-related issues between …
A.M. Best Co. has affirmed the financial strength rating of’ A+’ (Superior) and issuer credit rating of “aa-” of Bermuda-based Tokio Millennium Re Ltd. (TMR), both with stable outlooks. Best noted that TMR is a wholly owned subsidiary of Tokio …
Typhoon Mirinae has battered the Philippine capital and surrounding provinces, still reeling from recent flooding, killing at least 14 people [IJ Note — later reports have increased the death toll to 24] and sending residents of one town clambering onto …
White Paper Approved at Fall Meeting with Near-Unanimous Vote Though it may seem like the debate over the creation of a national catastrophe insurance plan is a relatively recent phenomenon, the National Association of Insurance Commissioners actually began addressing the …
The New York Insurance Department has signed a cooperation agreement with its counterpart in El Salvador, the latest in a string of similar agreements with insurance regulators in foreign countries. The agreement calls for increased cooperation on insurance-related issues between …
Aon Corp. reported results for the third quarter ended September 30, 2009, which show net income attributable to Aon stockholders was up slightly at $120 million or $0.41 per share, compared to $117 million or $0.40 per share for the …
Willis Re, the reinsurance arm of global insurance broker Willis Group Holdings Limited, has announced a series of management changes and a new organizational structure “designed to respond to the evolving marketplace and to better leverage the unit’s talent and …
American International Group is to sell its Taiwan life insurance unit for $2.15 billion, marking the largest disposal since a U.S. government bailout saved the insurer from collapse last year. The sale of Nan Shan Life on Tuesday was another …
