After a preliminary assessment of the impact of the recently announced verdict that the 9/11 attack on the World Trade Center was two insurable events, A.M. Best Co. said it does not believe this decision, itself, will result in any …
The second of three scheduled trials to determine the amount of the recovery for the destruction of the World Trade Center’s twin towers ended in a victory for master lease holder Silverstein Properties, and its head Larry Silverstein. In the …
France’s SCOR Group, who reinsured policies written by Allianz Global Risks covering the destruction of the World Trade Center, issued a statement indicating strong disagreement with the jury’s finding that two insured loss events had occurred (See National article). SCOR …
Rand Analysis Seen Boosting Argument for Extension of Federal Terrorism Backstop Insurance companies played the largest role in compensating people and businesses hurt by the Sept. 11 attacks, paying slightly more than half of the $38.1 billion in benefits, according …
Insurance companies played the largest role in compensating people and businesses hurt by the Sept. 11 attacks, paying slightly more than half of the $38.1 billion in benefits, according to a recent study. The results raise questions about the future …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” preferred stock rating to Bermuda-based PartnerRe Ltd.’s (PRE’s) proposed $200 million Series D Cumulative Redeemable Preferred Shares issuance (See IJ Website Nov.10). At the same time, S&P said …
Victims of the Sept. 11, 2001 terrorist attacks — both individuals killed or seriously injured and individuals and businesses impacted by the strikes — have received at least $38.1 billion in compensation, with insurance companies and the federal government providing …
Marsh & McLennan Companies Inc. (MMC) today revealed it would lay off about 3,000 employees to reduce annual expenses by $400 million. About three-quarters of the layoffs will occur in the insurance and risk management sectors, the company said in …
Lawyers in the second World Trade Center insurance trial clashed during opening statements in federal court in New York recently over the relevance of a boilerplate policy that defines the 2001 terrorist attack as one event. Bernard Nussbaum, a lawyer …
Chicago-based Aon Corp. (NYSE:AOC) has reported third quarter and nine months 2004 results. Net income per share for the third quarter was $0.36 for both 2004 and 2003. Net income from continuing operations was $121 million or $0.36 per share …
