India was struck by two tragedies over the weekend. On a busy Saturday morning three bombs exploded at different locations in the Indian capital Delhi, killing at least 60 people and causing widespread destruction. Earlier on Saturday a train derailed …
The Bermuda-based PXRE Group Ltd. also fell victim to the third quarter disaster, posting a net loss of $317.3 million, compared to a net loss of $73.2 million in the third quarter of 2004, which wasn’t particularly favorable to the …
While backers of an extension of the federal terrorism reinsurance program are still hoping that at least a short term fix will be approved before the Terrorism Risk Insurance Act officially expires at year’s end, others are looking ahead at …
The Chubb Group of Insurance Companies has launched complimentary luxury risk mitigation services for its high-net-worth and family office customers. Designed to help protect and enhance the affluent lifestyle, these services include access to personal security consultants, travel safety experts, …
DRI, the nation’s largest defense bar organization, is calling upon the Senate Banking Committee and the House Financial Services Committee to act immediately to place the question of extension of the Terrorism Risk Insurance Act of 2002 (“TRIA”) before the …
Standard & Poor’s Ratings Services announced that its “BBB+” counterparty credit rating on IPC Holdings Ltd. (IPCR), and its “BBB-” preliminary preferred stock rating on IPCR’s recently filed $1.25 billion universal shelf, “would remain on CreditWatch with negative implications where …
Maritime General Agency in Westbrook, Conn.has expanded its Charter Boat Program to target small charter and guide boats, ranging from 16’ to 25’. The Small Boat Charter Program is in addition to Maritime General Agency’s existing Charter Boat Program, in …
Fitch Ratings today said Hurricane Wilma represents a major blow to an already weak Florida property insurance market. If actual insured losses come in at the high end of the estimated range ($4 billion to $10 billion), Wilma will represent …
The Port Authority of New York was negligent in the 1993 terrorist bombing of the World Trade Center and can be sued for damages. A State Supreme Court jury in Manhattan has decided that the Port Authority, which owned the …
A new report from the RAND Corporation indicates that the Terrorism Risk Insurance Act (TRIA), which will expire in December unless extended by Congress, “creates an effective mechanism for sharing the financial risk that businesses face from terrorism.” The report …
