A.M. Best Co. lowered the financial strength rating to “A-” from “A” of Royal & Sun Alliance Insurance Group plc (R&SA), U.K., and its core subsidiaries. Concurrently, it downgraded the “BBB+” and “BBB” ratings of the group’s subordinated debt and …
A.M. Best Co. lowered the financial strength rating to “A-” from “A” of Royal & Sun Alliance Insurance Group plc (R&SA), United Kingdom, and its core subsidiaries. Concurrently, it downgraded the “BBB+” and “BBB” ratings of the group’s subordinated debt …
In a report issued Sept. 30, PricewaterhouseCoopers reports that business interruption (BI) losses associated with the Sept. 11, 2001, events have risen from 25 percent to 30 percent of total World Trade Center (WTC) loss estimates. BI coverage continues to …
World Trade Center leaseholder Larry Silverstein, who has argued that the Sept. 11, 2001 attacks on the property were two occurrences, has informed Judge John Martin that he will appeal a Sept. 25 ruling involving insurers’ Hartford Fire Insurance Co., …
A federal judge ruled Sept. 25 that the attacks on the World Trade Center last September resulted in “one occurrence” under a policy form used by a trio of insurers of the destroyed complex, according to a Dow Jones report. …
SalvageSale Inc., the Houston-based online salvage marketplace and salvor services provider for the claims recovery and commercial salvage markets, announced that Thomas DiSarlo has joined its subsidiary, SalvageSale Services Inc. as vice president. In addition, the company named Danny Pitchley …
The former Commissioner of the Fire Department of New York City was the keynote speaker at the Opening General Session of the 107th annual convention of the National Association of Mutual Insurance Companies (NAMIC), which is running in San Diego …
An assistant vice president of fraud investigation and protection at Empire Blue Cross and Blue Shield’s Times Square offices allegedly shot two colleagues to death before killing himself Sept. 16. The New York Times reports that John Harrison, a former …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Zenith National Insurance Group of Woodland Hills, Calif. The financial strength rating applies to three intercompany pool members and is based on the consolidated operating performance and …
Consolidated Edison Co. of New York and a group of its insurers sued the Port Authority of New York and New Jersey Sept. 10 in search of more than $314.5 million for damages to a substation that was demolished in …
