The American Academy of Actuaries, in response to questions posed by the President’s Working Group on Financial Markets, has submitted its terrorism risk insurance analysis, which concludes that a national framework for terrorism risk is necessary if terrorism coverage is …
Anyone who has been in a large city knows the importance of taxi and limousine services. Taxi drivers and chauffeurs help passengers get to and from their homes, workplaces, and recreational pursuits such as dining, entertainment, and shopping, as well …
The Independent Insurance Agents & Brokers of America (the Big “I”) has presented the Gerald Solomon-Legislator of the Year Award to U.S. Rep. Jack Kingston (R-Ga.) for his efforts in Congress on a number of important insurance issues. The award …
Gen. Colin L. Powell, USA (Ret.) told a gathering of independent insurance agents that the country should invest more in education. Powell, a former Secretary of State in the Bush Administration, also discussed the importance of America remaining open-minded. “Our …
Protecting the consumer is the number one priority in a product recall. The challenge is, can you do so without crippling your business? For large and small consumer goods manufacturers and distributors, recalls can cost millions of dollars in product …
Standard & Poor’s Ratings Services announced that “Rethinking Risk” will be the theme of its 22nd annual insurance conference scheduled for June 5-6 in New York City. S&P said: “CEOs from leading companies such AIG, Arch Capital, AXA, Genworth, Liberty …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of France’s Caisse Centrale de Reassurance (CCR) with a stable outlook. “The ratings reflect CCR’s unique position as …
The business-backed Coalition to Insure Against Terrorism (CIAT) says it welcomes the recent request by the President’s Working Group on Financial Markets (PWG) for public comments on a long-term terrorism insurance solution but hopes that the analysis of the issue …
The country may not need a natural catastrophe backup fund like it has for terrorism exposures, provided government allows insurers to create catastrophe reserves on a tax-deferred basis, according to New York’ insurance regulator. New York State Superintendent of Insurance …
An Airbus A320 plunged into the Black Sea at around 2:15 a.m. local time, while attempting to land at the Russian City of Sochi, killing all 113 persons on board. Preliminary reports from investigating authorities blamed the crash on bad …
