The New York State Insurance Department and a number of leading insurance companies will hold an information forum for residents and business owners affected by the World Trade Center disaster at 6:00 PM today in The Regatta, Community Room – …
Bermuda’s RenaissanceRe announced that its new property catastrophe reinsurance venture, DaVinci Reinsurance Ltd., formed in partnership with State Farm, has been fully funded and has commenced operations. First announced in October (See IJ Website Oct. 10), it’s taken RenRe and …
Swiss Re has claimed in a letter and an announcement that Larry Silverstein’s demand for an immediate cash payment for the loss of one of the World Trade Center Towers (See IJ Website Nov. 8) is equivalent to a decision …
Germany’s Allianz Group announced a profitable first nine-months, despite increased estimates of claims from the terrorist attacks on the World Trade Center, and costs relative to the acquisition of Dresdner Bank. Worldwide premium income increased 8 percent to € 54.9 …
Insurance companies reportedly face $200 million in claims from the New York City plane crash on Nov. 12, an unwelcome blow for insurers still struggling with major losses from the Sept. 11 attacks. According to Reuters news service, the overall …
Property insurance claims from the Sept. 11 attacks are worth $16.6 billion and rising, according to the first estimate from the Insurance Services Office Inc.’s Property Claim Services unit. That would make the destruction of the World Trade Center, along …
S&P lowered its ratings on CNA Financial Corp., the members of the Continental Casualty Intercompany Pool, Continental Assurance Co., Valley Forge Life Insurance Co., CNA Insurance Co. (Europe) Ltd., and Maritime Ins. Co. S&P’s lowered select CNA ratings because of …
The man who held the master lease on the World Trade Center is standing by his claim that the loss of the Twin Towers on Sept. 11 was two losses, not one, despite the call by insurer Swiss Re that …
Standard & Poor’s removed from CreditWatch and lowered its counterparty credit and senior debt ratings on Chubb Corp. to “AA-” from “AA+”, its preferred stock rating to “A” from “AA-“, and its financial strength ratings on Chubb’s operating insurance companies …
Silverstein Properties responded to Swiss Re’s declaratory relief action on Wednesday with a renewed demand for payment in order to begin the reconstruction of the World Trade Center. Larry Silverstein strongly disagrees with Swiss Re’s position that the attacks of …
