In an act of remembrance, the National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Kathleen Sebelius announced the association is donating $10,000 to the Neil D. Levin Education Foundation in memory of the former New York superintendent …
Indianapolis-based Baldwin & Lyons Inc., through its subsidiary, Protective Insurance Company, assumes reinsurance from other insurance and reinsurance companies. As a result of the terrorist attacks on the World Trade Center, preliminary estimates indicate a pre-tax loss to Protective of …
The Navigators Group Inc. estimates its after tax net loss from the September 11th terrorist attack on the World Trade Center to be approximately $5 million. The loss comes primarily from business underwritten at the Company’s Lloyd’s Syndicate 1221. This …
Gregory V. Serio, the Superintendent of the New York State Insurance Department (NYSID) issued a warning to consumers yesterday to take precautions when dealing with insurance adjusters in the wake of the World Trade Center disaster. “Although the vast majority …
In a recent White House meeting, Independent Insurance Agents of America (IIAA) CEO Robert A. Rusbuldt and other industry leaders reassured President Bush that insurance agents and companies are well-positioned to handle and pay claims stemming from the Sept. 11 …
Standard & Poor’s commented recently on its CreditWatch placement of ratings on Hartford Financial Services Group Inc. (HFSG), Hartford Accident & Indemnity Co., and related entities following the company’s announcement of expected losses related to the World Trade Center (WTC) …
the New York State Insurance Department moved to speed up the payment of life benefits to the families of the victims of the World Trade Center disaster by ordering insurers licensed in the state to waive the need for the …
Philadelphia Consolidated Holding Corp.(PCHC) of Bala Cynwyd Penna. announced that the it expected net pretax losses resulting from the terrorist attacks on the World Trade Center to be between $1.5 and $2 million. The losses, mainly from business interruption coverage …
“The World Trade Center is a living symbol of man’s dedication to world peace, his belief in cooperation of men and, through cooperation, his ability to find greatness.” —Minoru Yamasaki (1912-1987), chief architect of New York’s twin towers It can …
The events of Sept. 11 shook the foundations of the entire American financial community, and American International Group was no exception. Ironically, AIG had already had a very busy month. In Korea, it looked set to conclude its takeover of …
