Responding to a new claim by the Port Authority of New York and New Jersey that it is separately insured for a $2.1 billion “shortfall” in Silverstein property insurance following the Sept. 11, 2001 terrorist attack, a group of insurers …
An insider’s perspective on insurance-related topics including Terrorism Risk Insurance Act, state vs. federal regulation and tort reform was given by U.S. Congresswoman Sue Kelly, R-N.Y., vice chairman of the House Financial Services Committee during a May 6 presentation on …
Marsh & McLennan Companies Inc. (MMC) on Tuesday reported financial results for the quarter ended March 31, 2005. Consolidated revenues totaled $3.2 billion, and net income was $134 million, or $.25 per share. These results include pretax charges for restructuring, …
A day-long presentation and discussion about Ethics in Today’s Insurance Environment, sponsored by the R. Max Williamson Chair of Insurance and Business Ethics, kicked-off the American Association of Managing General Agents April 30 to May 5, 79th Annual Meeting at …
Dublin-based Research and Markets announced the addition of “Reinsurance Claims” to their offering. The work “contains up-to-date commentary and legal cases, and is the first publication to offer a clear view of this elusive aspect of the law,” said the …
Berkshire Hathaway’s Buffett on Insurance Economics, 2004 Results By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5 percent fell short of the S&P …
A.M. Best Co. has issued a comment indicating that all of its on French reinsurer SCOR Group will remain unchanged following publication of the company’s earnings results (See IJ Website March 24). “The reported net income of EUR 68.7 million …
French reinsurer SCOR Group returned to profitability in 2004 posting net income of 68.7 million euros ($89.4 million) on gross written premiums of 2.528 billion euros ($3.29 billion). The group posted a 314 million euro ($408.5 million) loss in 2003. …
The Big Dig’s top manager said that a top consultant was fired from the project over a possible conflict of interest, contradicting the man’s claim that he resigned because he was stonewalled and can’t vouch for the safety of the …
Lloyd’s Chairman, Lord Peter Levene, addressing a gathering of the Norwegian insurance industry, reminded his audience of the historic ties between the U.K. and the Scandinavian nation, observing that the two countries enjoyed a “a good business relationship.” He also …
