Although it’s fairly well known that the U.S. maintains a number of law enforcement offices and personnel around the world, it’s rare to get a close-up interview with an actual agent. Lloyd’s has managed to track down and interview the …
Standard & Poor’s Ratings Services’ Insurance 2007 conference, held June 3-5 in New York City, has yielded some valuable advice from three industry leaders on how to properly employ models. S&P noted that the increasing use of predictive modeling tools …
A.M. Best Co. has released a list of ratings on a number of Canadian P/C insurers, based on publicly available financial information. “These ratings are based solely upon public information and present the most informed view A.M. Best can offer, …
The Treasury Department of the UK Government has undertaken an examination of the statutes currently governing the functioning of the Lloyd’s market with a view to modernizing them. Last year the Chancellor, Gordon Brown, who’s slated to become Prime Minister …
The Bermuda-based ACE Tempest Re Group, the reinsurance division of the ACE Group of Companies, has established an underwriting presence at Lloyd’s Reinsurance Company (China) Limited, Lloyd’s new licensed reinsurance company based in Shanghai (See IJ web site April 23). …
An oil industry trade group said it has developed standards to better protect workers from explosions like the 2005 BP refinery in Texas explosion that killed 15 people and injured 170. The American Petroleum Institute’s new standards are designed to …
Bermuda’s Montpelier Re Holdings Ltd. announced that it has received approval from Lloyd’s for the commencement of trading on July 1, 2007 of a new Syndicate, to be known as Montpelier Syndicate 5151, pseudonym “MRE”. “The Syndicate will underwrite a …
Newman Martin and Buchan Limited, an independent Lloyd’s insurance and reinsurance broker, has launched a capital markets division to complement its reinsurance advisory and placement services. Mark Burbidge and Paul Dunster have joined the company to run the division, which …
Guy Carpenter & Company, Marsh & McLennan’s risk and reinsurance specialist, announced plans to mandate the use of Electronic Claims File (ECF) for in-scope claims for all Lloyd’s markets from January 1, 2008. “This decision follows the successful implementation of …
London-based RI3K, which provides electronic trading services to insurers and reinsurers, received five awards at the recent 2007 ACORD Awards ceremony in Lake Buena Vista, Florida. RI3K won in the following categories: — International Implementation Award — ACORD Innovative Implementation …
