Dramatically higher premium increases and risk retention requirements have reportedly added financial pressures to an industry segment that is already strained. Facilities are going bare, self-insuring or reducing limits of coverage. It is only through greater risk control measures, prudent …
The Louisiana House of Representatives has passed a bill combining the Coastal and FAIR Plans, two of the state’s so-called “insurers of last resort,” under a new state-created entity called the Louisiana Citizens Property Insurance Corporation. According to the the …
Industry experts will discuss the value of connecting ITV initiatives with claims processes to improve property carriers’ profitability and policyholder protection at Marshall and Swift/ Boeckh’s (MS/B’s) 17th annual Client Conference, June 4-6, at the Trump Marina Hotel Casino in …
A.M. Best Co. has affirmed the financial strength ratings of A+ (Superior) of the following subsidiaries of AXA Canada Inc.: AXA Assurances Inc. and AXA Assurances Agricoles Inc. (both of Montreal, Quebec) and the A (Excellent) rating of AXA Pacific …
Florida-based Accessity Corp. reported that it had a net loss from continuing operations of $493,000, or $.05 per basic and diluted share, for the quarter ended March 31, 2003. In the comparable quarter of 2002, the Company recorded a net …
New Jersey’s Acting Attorney General Peter Harvey announced that the Division of Criminal Justice – Office of Insurance Fraud Prosecutor has charged seven individuals with conspiracy and theft by deception for their part in staging automobile accidents in order to …
The Hartford Financial Services Group Inc., has sold most of its property-casualty reinsurance business to Bermuda-based Endurance Specialty Holdings Ltd. The transaction includes the sale of renewal rights for existing business and the transfer of the majority of the unearned …
France’s SCOR Group, the world’s 8th largest reinsurer, continued its earnings recovery with strong first quarter net income of 31 million euros ($35.36 million), compared to 7 million euros ($7.98 million) in the same period last year and a 455 …
Germany’s Allianz reported a first quarter net loss of 520 million euros ($593.06 million), mostly due to another series of writedowns in the value of its investments, but from an operating point of view Europe’s largest insurer achieved some significant …
Insured property damages due to the May 4 tornadoes in Kansas are about $70 million, according to the state’s insurance department. Insurance Commissioner Sandy Praeger estimated that the damage in Northeast Kansas, including Leavenworth, Miami and Wyandotte Counties is about …