Proposals to arm sailors on commercial shipping vessels to battle pirates could lead to an “arms race” on the high seas, a senior maritime official said on Monday. Some shipping companies want their crews to have arms or use mercenaries …
A former Miss West Virginia has won a $7.2 million verdict against nine Internet companies that tried to sell pornographic videos they falsely claimed featured her. A jury in U.S. District Court in Clarksburg last week ordered each defendant to …
U.S. warships stalked a drifting lifeboat where Somali pirates were holding their first American hostage on Friday, apparently hoping to win a promise of safe passage in exchange for the captive. Four pirates have been holding ship’s captain Richard Phillips, …
A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Bermuda-based Aspen Insurance Limited (AIL) (Bermuda). Best also affirmed the ICR of “bbb” …
President George W. Bush has been briefed about increasing attacks by Somali pirates off east Africa, and the United States is consulting with other U.N. Security Council members on ways to combat the threat, the White House said Wednesday. Calling …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based non-life reinsurer Hannover Reinsurance Africa Ltd. to ‘A’ from ‘BBB+’. The outlook is stable. “The upgrade reflects our revised view of …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based reinsurer Munich Reinsurance Co. of Africa Ltd. to ‘A’ from ‘A-‘ with a stable outlook. In a companion announcement, S&P also …
At the Clinton Global Initiative Annual Meeting last week in New York City, former President Bill Clinton announced the launch of LeapFrog Investments, the world’s first investment firm to focus on the insurance needs of low-income people. Its founders say …
On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which the Federal Reserve Bank of New …
According to a recently released report from Marsh, “insurance rates across most lines of business in the Europe, Middle East and Africa (EMEA) region continued to soften in the first half of 2008.” However, “the report also identified trends being …
