The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is largely due to the destruction from Hurricane Katrina, the most devastating …
The Olympic Games began and ended without incident but what if they had been cancelled? While Italians sadly said farewell to the Torino 2006 XX Olympic Winter Games, held Feb. 10-26, insurers are happy the event came and went without …
Shareholders of Lincoln National Corp. approved its $7.5 billion acquisition of rival Jefferson-Pilot Corp. The combined company, with 2004 revenue of $9.5 billion, will be headquartered in Philadelphia. Eastern buys Howland’s Agency in Mass. Eastern Insurance Group has acquired Howland’s …
Totally ready or just terrorism ready? Is the nation’s terrorism-centric focus hurting its efforts to plan for other disasters? Dr. James L. Valverde Jr., director of economics and risk management for the Insurance Information Institute, posed that question at the …
While Italians sadly said farewell to the Torino 2006 XX Olympic Winter Games, held Feb. 10-26, insurers are happy the event came and went without a hitch. For the first time, the International Olympic Committee purchased an event cancellation policy …
The London insurance market: The City and the regulators For 317 years London’s insurance market in general and Lloyd’s in particular has been adapting to changing conditions both locally and globally. It’s never been easy, but the fact that it …
outlines any contingency compensation arrangements. News Currents Zurich agents caught in compensation disclosure web Insurer agrees to nationwide compensation disclosure along with payments of $325 million in two settlements Independent agents representing Zurich Insurance in the U.S. will have to …
The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is largely due to the destruction from Hurricane Katrina, the most devastating …
At least 57 people died when a ship on a pleasure cruise suddenly capsized off of Bahrain last night, March 30. Although the ship, an Arab dhow carrying some 150 passengers and crew, went down in calm waters near the …
An article published in Standard & Poor’s Ratings Direct stresses that “financial flexibility continues to be an extremely important rating factor.” The publication, entitled “More Frequent Catastrophes Could Undermine Reinsurers’ Access To The Capital Markets,” notes that “financial flexibility is …
