One of the big issues facing small- to mid-size oil and gas operators and contractors these days is the need to determine how much risk they are willing to carry themselves and how much they want to transfer to an …
Omaha, Neb.-based Berkshire Hathaway Inc. nearly doubled the profit of the first quarter of 2002, thanks to the hardened insurance market. Berkshire reported a net profit of $1.73 billion, or $1,127 a share, compared to $916 million, or $598 a …
Larry Silverstein has reportedly gone to court to try and recover an additional $420 million from Industrial Risk Insurers, a subsidiary of GE Capital, to complete the cost of rebuilding 7 World Trade Center. The building, which contained mostly government …
Chicago-based brokerage Aon Corp. reported quarterly earnings of $152 million, or 48 cents per share, down 5 percent from a year ago’s $160 million, or 57 cents per share. The company, one of the top insurance brokerages in the world, …
Washington taxpayers and the State Fund will get significant financial relief from the federal government in the event of an act of terrorism that results in catastrophic losses to the workers’ compensation system. The law requires that workers’ comp coverage …
Representatives of the New York State Insurance Department and the Lower Manhattan Development Corp. recently briefed members and guests of the Insurance Brokers’ Association of New on the development of captives to ease market constraints and on efforts to rebuild …
Nineteen months after the World Trade Center attacks sent the market into turmoil, premium increases for commercial property/casualty insurance are moderating, and there are signs the marketplace is beginning to stabilize, according to the First Quarter 2003 Market Index survey …
A.M. Best Co. downgraded the financial strength rating to “A” (Excellent) from “A+” (Superior) of Liberty Mutual Insurance Cos., based in Boston, Mass. Also downgraded was the financial strength rating of Liberty Northwest Group, Portland, Ore. to “A” (Excellent) from …
A.M. Best Co. has downgraded the financial strength ratings to A (Excellent) from A+ (Superior) of Allianz Insurance Company (AIC) and its direct subsidiary, Allianz Underwriters Insurance Company, both of Burbank, Calif. The rating outlook is stable for both companies. …
The Insurance Brokers’ Association of the State of New York announced that its annual meeting and spring reception will be held on Thursday, April 24, 2003 at Bridgewaters in the South Street Seaport, 11 Fulton St., New York, N.Y. The …
