Commercial property/casualty premiums for all sizes of accounts dropped sharply during the first quarter of 2007, with indications that insurance companies are starting to loosen underwriting standards and price aggressively to get business, according to the latest Commercial Property/Casualty Market …
Key subcommittee chairman favors six to eight-year terrorism insurance extension Insurance industry pushes for longer period with some in favor of 20 years or more In his opening statement as chair of a U.S. House of Representatives subcommittee considering extension …
Insurance industry pushes for longer period with some in favor of 20 years or more In his opening statement as chair of a U.S. House of Representatives subcommittee considering extension of the Terrorism Risk Insurance Act (TRIA), Rep. Paul E. …
Estimating the potential costs of future weather related events, linked to climate change, is, at best, an inexact science; there are just too many variables. Nonetheless, a picture is emerging that, whatever happens, the costs are likely to be huge. …
Connecticut towns must learn to work together before the first warning is issued of an impending disaster or even before prevention plans are made, local officials were told this week. It’s not an easy task in a state of 169 …
Contingent commissions for agents and brokers should be watched by regulators but these profit-sharing arrangements do not necessarily have to be eliminated, according to a leading insurance consumer advocate. “I think they need to at least be regulated and moderated,” …
Agostino Galvagni, a member of the Executive Board of Swiss Re and head of the company’s Globals and Large Risks division, told a panel at the RIMS convention in New Orleans that there’s a growing disconnect between risk and mitigation. …
The Bermuda-based Catlin Group Limited announced that Chris King and Matthew Newman have been appointed as business group leaders for Catlin s underwriting operations in London. King will lead Catlin s War and Political Risk Business Group, which includes the …
The Independent Insurance Agents & Brokers of America (the Big “I”) honored an agent leader and one of its state associations for their legislative accomplishments in 2006 at the Big “I” National Legislative Conference and Convention. Sharon Emek of CBS …
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa-” for Bermuda-based Tokio Millennium Re Limited (TMR), a subsidiary of Tokio Marine and Nichido Fire Insurance Company (TMNF) (See related article). …
