It’s now apparent that Charley has become the season’s first full-blown hurricane, packing sustained winds of 105 mph (168 km/hr) with higher gusts. The storm hit Cuba near the port of Batabano, south of Havana, around midnight. Local authorities have …
A.M. Best Co. announced that it has upgraded Lloyd’s financial strength rating to “A” (Excellent) from “A-” (Excellent), and has assigned an issuer credit rating of “a” with a stable outlook. Lloyd’s management welcomed the decision as underscoring the financial …
Following the upgrade of the financial strength rating to “A” (Excellent) from “A-” (Excellent) of Lloyd’s of London and the assignment of an issuer credit rating (ICR) of “a” (See previous article), A.M. Best said it has reviewed all its …
The Connecticut Department of Insurance has issued a bulletin establishing limited commercial lines exemption from terrorism liability under the state’s standard fire insurance policy. Public Act 04-140’s limited exclusion applies only when a commercial policyholder has rejected federal TRIA coverage …
Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, on Thursday warned that insured losses in the U.S. could exceed $10 billion if Hurricane Charley follows the track and severity estimates published by …
Residents of coastal areas can take steps now to make the insurance claims process move smoothly should their property be damaged by Hurricane Charley, according to the Insurance Information Institute (I.I.I.). According to the National Hurricane Center in Miami, as …
Florida Attorney General Charlie Crist has activated a toll-free hotline and urged Florida residents to report suspected price gouging associated with Tropical Storm Bonnie and Hurricane Charley. The Attorney General’s action follows Governor Bush’s official declaration of an emergency for …
GreenWood International Insurance Services (GWI), a provider of medical stop loss, group personal accident and occupational accident insurance coverage to employers, announced the promotion of Joseph Sullivan from senior vice president to executive vice president. In addition, GWI announced the …
Richard Polizzi, president of Western Security Surplus, invites agents and brokers to a free Miscellaneous Professional Liability Insurance seminar on Wednesday, Aug. 25. The hosts for the seminar will be WSS’ Orange County/San Diego office and Shand Morahan. The topic …
Sacramento (Calif.) District Attorney Jan Scully announced that Robert Harrison and Salvador Castaneda AKA Samuel Machado were convicted of Conspiracy to Commit Insurance Fraud, Embezzlement and Grand Theft. Harrison was employed as a claims adjuster at a business that administered …