State insurance regulators, industry representatives, catastrophe experts and consumer representatives are convening in San Francisco on Tuesday for a two-day summit in to help devise a national catastrophe insurance program to reduce the need for federal emergency aid and make …
Paris: Somber, gray leaden skies cover Paris, as dignitaries gather to commemorate the 87th anniversary of the end of what the French call La Grande Guerre. The weather matches France’s somber mood at the moment, following the recent riots. Nevertheless …
The House Financial Service Committee has come up with what at least one group is calling a “workable” proposal to renew the federal terrorism insurance act for two years. The bill will be marked up by the committee beginning next …
London-based RI3K has announced that by the end of this month it will expand its electronic trading platform services to certain commercial lines. The company said it will initially handle International Property, North American Property and Terrorism classes of business. …
Paul Becker, North American Construction Practice Group leader for Willis, the global insurance broker, testified Tuesday at a hearing held by the Senate Subcommittee on Superfund and Waste Management on the construction risks inherent in the New Orleans clean-up. Becker, …
A number of Mid-Atlantic states are forming what they are calling the All Hazards Consortium to increase preparedness by enabling emergency management participants to share strategies and integrate planning. The AHC, a not-for-profit organization, emerged from last year’s All Hazards …
Hurricane Katrina has long gone, but the aftereffects of the mighty storm are likely to linger for a very long time. Rita and Wilma have compounded the mess. The direct losses are staggering. The latest preliminary figures from the Insurance …
P/C Insurers Post Record Results in 2005: The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion, with a net income of $32.1 billion during the first six months of 2005, a substantial gain from the record results posted …
Regulatory reform, terrorism insurance and the eventual impact of record-breaking natural disasters were the main topics of discussion at the annual meeting of the Property Casualty Insurers Association of America, held in Chicago last month. In opening remarks by PCI …
Citadel Investment Group, a hedge fund that manages around $12 billion, has formed a new Bermuda-based reinsurer, New Castle Re, with an initial capitalization of $500 million. A.M. Best promptly assigned the new entrant a coveted financial strength rating of …
