Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, announced that it provided the risk analysis for a securitization of insurance risk by the Taiwan Residential Earthquake Insurance Pool (TREIP). The securities were …
The Insurance Council of Texas reported that Hurricane Claudette, which hit the Texas coast in July, caused an estimated $90 million in insured losses, placing the storm just ahead of Hurricane Carla in dollar losses. Claudette came ashore July 15, …
The Alliance of American Insurers offered the following comment on a recent decision by Madison County, Ill., Circuit Judge Nicholas Byron to certify a class-action lawsuit regarding the use of aftermarket parts to fix damaged vehicles. The suit involves 30,000 …
The Institute for Business & Home Safety (IBHS) is making access to disaster protection information easier with the next generation of its Web site, www.disastersafety.org. The latest enhancements to the IBHS Web site allow more efficient access to property protection …
Utah-based Goldstone Services Corporation reports it surpassed the $2.5M mark for savings on jewelry claims to the insurance industry. “The often overlooked jewelry niche is one area that property managers can rack up huge savings,” stated Travis Stock, V.P. of …
Maryland-based TESSCO Technologies Incorporated, a provider of integrated product plus supply chain solutions to the wireless communications industry, announced its final negotiated settlement of the insurance claim related to the Oct. 12, 2002 flooding of its central sales, support, data …
Germany’s Hannover Re continues to record a steady operating performance. Just reported first-half results show net premiums earned up 9.4 percent to 5.9775 billion euros ($6.5 billion, a slight increase in operating profit (EBIT) to 285.2 million euros ($310 million) …
Pennsylvania Agriculture Secretary Dennis Wolff announced that the Federal Crop Insurance Corporation (FCIC) has raised the ceiling on Pennsylvania’s AGR-Lite crop insurance protection program from $100,000 to $250,000, extending protection to producers with annual gross revenues up to $500,000. In …
Bermuda-based ACE Limited announced the appointment of Frank Lattal to the position of Chief Claims Officer. He will oversee all aspects of claims management and administration for the ACE Group of Companies worldwide through its network of claims officers, reporting …
Workers’ compensation costs for some Colorado employers may decrease later this year. Colorado Insurance Commissioner Doug Dean announced that the National Council on Compensation Insurance (NCCI) has filed an average decrease of 6.1 percent in workers’ compensation insurance loss costs …