Standard & Poor’s today affirmed its “AA” long-term counterparty credit and insurer financial strength ratings on the operating entities of Paris-based global insurance group AXA, as well as its “A+” long-term counterparty credit ratings on AXA and AXA Financial Inc., …
The Port Authority of New York and New Jersey reported $2.7 billion in gross operating revenues for 2001, slightly more than last year, despite a 300 percent increase in its insurance premiums from around $4 million to $16 million. Increased …
Workers’ compensation, one of the insurance lines most acutely affected by the terrorism of 2001 and by the continued absence of government backstop insurance for terrorism events, is fast becoming a high-priced thorn in the side for U.S. companies seeking …
An article in the Friday edition of the New York Times raises troubling questions about the insurance coverage on the contractors and their employees, who’ve been working around the clock cleaning up the debris at ground zero – simply put, …
The National Association of Independent Insurers (NAII) has urged insurance regulators to “move with deliberation…on terrorism exclusions for personal lines” and to remain flexible when considering such exclusions. According to NAII, reinsurance contracts for many personal lines insurers now contain …
The New York State Insurance Department’s Frauds Bureau (FB) set new records last year for the investigation and apprehension of persons suspected of committing insurance fraud in the State. I investigations resulted in 534 arrests, a 10 percent increase over …
While Swiss Re and other insurers are in federal court facing Silverstein Properties, the master lease holder of the World Trade Center, General Motors Acceptance Corp. has filed an action in State Court, seeking a share of the funds, around …
Risk Management Solutions (RMS) announced that its annual Client Conference will be held March 11-14, in San Francisco, at the Westin St. Francis Hotel. The conference’s focus, shaped by direct feedback from RMS clients, will center on “Risk Management In …
Lower Manhattan took another step towards reestablishing the business disrupted by the attacks on the World Trade Center with the announcement that the 300 employees of St. Paul Re will return from their exile in Morristown NJ to their offices …
A.M. Best announced that it has downgraded the financial strength rating of France’s SCOR to A (Excellent) from A+ (Superior) and has removed the rating from under review. The new rating also applies to all of SCOR’s subsidiary companies, as …
