Munich Re has issued a new survey report – “topics Natural Catastrophes 2002.” The study found that “storms and floods have an even greater impact on insurers’ claims burdens than in the year before,” and examines “how can the effects …
When Berkshire Hathaway’s Warren Buffett, the “Oracle of Omaha,” speaks people listen. So when he addressed his latest letter to the company’s shareholders it was quite natural that everyone paid attention. On page 9, while discussing the significant turn around …
The California Workers’ Compensation Institute (CWCI) has announced it will conduct a one-day case law seminar in May in San Francisco and Long Beach. The program will examine trends in case law in light of the recent passage of AB …
Nevada’s Clark County Grand Jury indicted Pavel Daniel Oprea, 37, on nine felony counts of insurance fraud including three counts each of the following: false application to insurer, false claim for insurance benefits, and obtaining money by false pretenses. Oprea’s …
A.M. Best Co. has downgraded the financial strength rating to A (Excellent) from A+ (Superior) of Liberty Mutual Insurance Companies (Liberty Mutual) (Boston). A.M. Best has also downgraded the financial strength rating to A (Excellent) from A+ (Superior) of Liberty …
Property/casualty insurer use of arbitration as an alternative to the more formal and confrontational tort system results in a more efficient and equitable disposition of claims, benefiting both consumers and companies, a leading industry expert representing the Alliance of American …
State lawmakers around the country have been busy introducing a variety of bills aimed at the issue of mold, how it is addressed by society, and how it is covered by insurers. “We are currently tracking nearly 30 bills under …
Nebraska-based auto warranty and service contract insurer National Warranty Insurance Co. has been downgraded to “B++” (Very Good) from “A-” (Excellent) by A.M. Best & Co. The rating action follows NWIC’s decline in policyholder surplus through year-end 2002, which was …
The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and 2001, as well as exposures to asbestos claims from business written prior to …
The Illinois Appelate Court has ruled that insurance brokerage giant Aon Corp. must pay $22 million to the family of man killed in a plane crash helmed by the company’s corporate pilot, according to Crain’s Chicago Business. The man, Robert …