Houston-based HCC Insurance Holdings Inc. pledged a $100,000 contribution to the families of policemen and firefighters killed in the line of duty as a result of the Sept. 11 terrorists attacks on New York and Washington, D.C., and encouraged the …
The financial and human losses from the events of Sept. 11 continue to haunt insurance companies at home and around world. Insurers have been assessing the impact and are beginning to pay claims with an as yet undetermined effect on …
The Hartford Financial Services Group Inc. plans to raise equity capital to replace its estimated $450 million reduction in shareholders’ equity from the World Trade Center disaster of Sept. 11. The company plans to raise roughly half the required funds …
A preliminary report from New York City Comptroller Alan Hevesi pronounced some staggering numbers in the wake of the attack on the World Trade Center, citing it could cost New York City as much as $105 billion by the end …
The National Association of Independent Insurers (NAII) offered a proposal to address risks related to terrorism and other catastrophic losses in the wake of the World Trade Center disaster. In addition, the Association staff will work with other industry trade …
Aon Corporation has established the Aon Memorial Education Fund. The fund will support the educational needs of the children of Aon employees who were victims of the World Trade Center attack on Sept. 11. The fund, which was originally launched …
American International Group Inc. has finalized a package to provide $1 billion of coverage per airline for war risk and hijacking liability. Airlines and insurers have been stunned by the Sept. 11 attacks on the United States, which killed thousands …
Bermuda’s Renaissance Re reported that its net losses as a result of the September 11 attack on the World Trade Center would be around $50 million and would impact third quarter earnings, but said that it still expects to report …
A.M. Best Co. has placed the financial strength rating of “A-” for Shelter Reinsurance Co., Columbia, Mo., under review with negative implications. This rating action is based on several factors that have combined to weaken Shelter Re’s capital position below …
Pennsylvania Insurance Commissioner Diane Koken admitted defeat Wednesday in her Department’s battle to rehabilitate the 184-year-old Reliance Insurance Company, when Commonwealth Court Judge James Gardner Colins approved the PID’s petition to place it in formal liquidation. “After extensive and diligent …
