In response to a substantial number of requests for information regarding GMAC’s exposure to the World Trade Center properties, GMAC expressed its “deepest sorrow and sympathy” and released the following statement. “On July 24, 2001, GMAC Commercial Mortgage, a subsidiary …
As ACE Limited examined its levels of insurance and reinsurance exposure, the Company joined the world community in condemning Sept. 11’s acts of terrorism in the U.S. Brian Duperreault, chairman and CEO of ACE Limited, stated: “The human toll is …
Des Moines-based Seabury & Smith, a program management firm, and parent company Marsh Inc., which bought the West Des Moines-based Kirke-Van Orsdel Inc., confirmed the safety of 500 employees Tuesday, including most of the 200 Seabury & Smith employees who …
The coordinated terrorist attacks in New York’s lower Manhattan and Washington, D.C., last week targeted indisputable symbols of American prestige and military power: the World Trade Center and the Pentagon. The attacks delivered paralyzing blows to not only America’s economic …
A number of Bermuda-based insurers have extended their condolences to the families of victims of the terror attacks on the World Trade Center and the Pentagon. Bermuda’s two largest insurers, ACE and XL, made statements last week (See today’s national …
While a myriad of businesses called the Twin Towers of the World Trade Center home, insurance companies were particularly hard hit with Tuesday’s terrorist attack on the 110-story landmarks. The following is a list of some of the companies and …
Jerry Tegan, president and CEO of Aon Specialty Product Network, released the following statement on Sept. 12: “As each of you know, we had a very devastating day in this country yesterday and certainly at Aon. Aon occupied several floors …
Underwriters and insurance brokers gathered in the Lloyd’s Building in London yesterday to hear the Lutine Bell rung in memory of the victims of this week’s terror attacks in the United States. The bell was rung twice — to mark …
The global insurance system has the financial strength to handle the losses from the terrorist attacks of Sept. 11, according to the Insurance Information Institute (I.I.I.). Insurance losses from the attacks will be shared throughout the worldwide insurance and reinsurance …
Although Tuesday’s terrorist attack on the World Trade Center building is a terribly tragic event, the impact on the property insurance industry is likely to be modest, according to a preliminary analysis by Weiss Ratings Inc., a provider of independent …
