For the clean up of New Orleans in the wake of Hurricane Katrina to progress, contractors engaged in this important work must be adequately protected from long-term and uncertain liabilities. As insurance brokers, we at Willis work with our clients …
From Maine to Virginia, many of the insurance headlines in 2005 dealt with compensation and reinsurance probes, just as they did across the country, casting the industry’s reputation in a bad light. But much of the most interesting regional and …
Insurers can continue to use Insurance Services Office’s portfolio of terrorism insurance endorsements and related rules without any revisions under the Terrorism Risk Insurance Extension Act of 2005, signed into law by President Bush. Congress enacted the Terrorism Risk Insurance …
A rural south Alabama county has boosted its insurance coverage to cover any attack by a foreign-based terrorist group after a discussion over such an unlikely event. The Clarke County Commission approved the $7,000 annual premium for the insurance that …
AIR Worldwide Corporation conducted an analysis of the potential impact on insurers of the Terrorism Risk Insurance Extension Act of 2005. The Act was signed into law last week and extends the Terrorism Risk Insurance Act of 2002 (TRIA) through …
Standard & Poor’s Rating Services has issued a timely bulletin, entitled “Credit FAQ: Rating The Reinsurance Startups.” The article discusses the criteria the rating agency uses in determining the creditworthiness of new companies and related entries into the insurance marketplace. …
Ken Livingstone, London’s high-profile mayor, told interviewers on BBC Radio 4 that threats from terrorist attacks in the U.K.’s capital persist, but are largely disorganized. He noted that the July 7 “attackers were all homegrown,” and, taking issue with Prime …
New York-based Advisen Ltd. has released an estimate that worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the cumulative catastrophe losses the largest on …
he Hartford Financial Services Group, Inc. (NYSE:HIG) , one of the nation’s largest financial services and insurance companies, is celebrating its 10-year anniversary as a publicly traded company on the New York Stock Exchange. The Hartford regained its independence one …
Ever since Hurricane Katrina devastated New Orleans, 2005 looked certain to be a record-breaking year for insured losses. Swiss Re’s newly issued sigma report has now confirmed the sad fact. According to preliminary estimates (the full and exact figures won’t …
