Nearly all small and midsize businesses have taken at least some steps to protect themselves against an emergency, according to a national survey conducted by The Hartford Financial Services Group Inc. The survey revealed that 97 percent of small and …
Chicago-based Aon Corporation announced the formation of Aon Re Global, A reinsurance brokerage firm. Aon Re Global will effectively combine all of Aon’s reinsurance operations around the world into a single, seamless, global organization, organized around its clients and focused …
GMAC Commercial Mortgage Co., a financing unit of General Motors Corp., has filed a lawsuit over claims that World Trade Center master leaseholder Silverstein Properties and the site’s owner, the Port Authority of New York and New Jersey, have not …
Bermuda’s XL Capital Ltd announced that it has completed the purchase, through a subsidiary, of the remaining 33% of Le Mans Ré held by Les Mutuelles du Mans Assurances Group (“MMA”). XL and MMA formed the French based reinsurer in …
Due to the significant number of ratings announcements released recently, the IJ offers the following summary of actions taken by the rating agencies indicated. More complete information can be obtained directly from the agencies. Standard & Poor’s has lowered its …
The latest advisory bulletin from Miami’s National Hurricane Center warns “powerful hurricane Fabian [is] taking aim at Bermuda,” and a “hurricane warning remains in effect” for the island. “Fabian is a large and severe hurricane,” said the bulletin. It strongly …
Three San Diego residents must pay more than $125,000 in restitution after pleading guilty to insurance fraud in a case that highlights the danger to employers of bogus workers’ compensation insurance. The convictions followed an investigation by the California Department …
Houston-based HCC Insurance Holdings Inc. announced its 29th consecutive quarterly cash dividend, and declared a 15 percent increase in the annual dividend to $0.30 per share on the company’s $1.00 par value common stock, payable $0.075 per share quarterly. The …
Florida’s Brown & Brown Inc. went on a buying spree recently and acquired three insurance operations in the state of Washington: Canfield and Associates Inc. and Canfield Insurance Services Inc., of Ephrata, Wash., and Washington Insurance Services Inc., of Woodinville. …
Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by December 31, 2002, compared to $8.5 billion reported through December 31, 2001. …