A.M. Best Co. has affirmed the financial strength rating (FSR) of A++ (Superior) of the property/casualty subsidiaries of The Chubb Corporation (Chubb) and has affirmed the issuer credit ratings (ICR) of “aa-” and “aa+” of Chubb and Federal Insurance Company, …
The National Association of Mutual Insurance Companies (NAMIC) – which has more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States – has set its federal affairs agenda for 2006. …
A former truck driver, who authorites report falsely claimed to have been injured and permanently disabled in the terror attack on the World Trade Center on Sept. 11, 2001, was sentenced recently to 30 months in federal prison for making …
Swiss Re’s latest sigma report examines the natural catastrophes and man-made disasters of 2005. Among other findings it notes that “more than 97 000 people lost their lives” as a result of one of the “almost 400 catastrophes, which caused …
They’re throwing Mardi Gras beads again, so many strands, they’re landing in tree branches and getting snagged on the trellised balconies of the French Quarter. They’re adorning the arms of Spanish statues. Tourists are wearing them, but these days so …
Confidence in the reserve adequacy of U.S. insurers increased modestly for accident years 2003 and 2004, according to Standard & Poor’s, but the rating agency said insurers’ ability to attain adequate reserves for accident years 2001 and prior remains a …
The roof of a wholesale market in Moscow collapsed early Thursday morning, Feb. 23, killing at least 18 people and injuring 24 more. An unknown number of people were trapped in the fallen debris. Rescue workers are combing the remains …
While increased frequency of hurricanes is nothing new in historical terms, the enormous growth in coastal population and development is dramatically increasing the potential for insured losses, according to a new paper from GE Insurance Solutions. “Demographic trends in Florida …
The Bush Administration on Thursday released its review of The Federal Response to Hurricane Katrina. In the 228-page report, the Bush Administration notes that there were major flaws in the response on the government’s part to the disaster. More than …
U.S. terms for approving an Arab company’s takeover of operations at six major American ports are insufficient to guard against terrorist infiltration, the chairman of the House Homeland Security Committee said. “I’m aware of the conditions and they relate entirely …
