The U.K.’s Chartered Insurance Institute announced that its newly-formed Faculty of Claims is to host a session at the UK Insurance and Financial Services Conference, which will be held at the International Convention Centre in Birmingham from Sept. 29 to …
A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, which is managed by the U.K.’s Hardy (Underwriting Agencies) Ltd. The outlook remains stable. …
A.M. Best Co. announced that it has affirmed the financial strength rating of B+ (Very Good) of New Zealand’s Pioneer Insurance Company Limited, with a stable outlook. “The rating reflects Pioneer’s adequate capital, strong liquidity, conservative reinsurance arrangement and short-tail …
Risk Management Solutions (RMS), reported that insured losses from Hurricane Ivan in the U.S. are likely to range from $2 to $7 billion, based on updated information on landfall location and wind speeds. Additional insured losses of $1-2 billion are …
Virtually every line of insurance coverage saw reductions in the number of complaints to the Michigan agency which regulates the industry. The Michigan Office of Financial and Insurance Services received 5,816 complaints against insurers in 2003, down 12 percent from …
The head of the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that President Bush has ordered the release of all necessary federal disaster aid resources for Florida pummeled for the third time by a hurricane …
California-based Explorer Insurance Company, a member company of the ICW Group, has renewed their agreement with ProcessClaims for an additional three years. Explorer utilizes the ProcessClaims business process management platform to streamline the resolution of material damage claims throughout its …
California authorities have completed arresting 38 people for alleged auto insurance fraud at more than 30 auto body shops in Riverside and San Bernardino Counties. The suspects were arrested over the past five days and booked into their respective county …
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has issued citations and proposed penalties of $117,000 to Colt Utilities Inc. following an inspection that began March 19 that reportedly found safety violations at a trench and excavation …
AIR Worldwide estimates insured losses in the United States from Hurricane Ivan will be between $3 billion to $6 billion. Losses in the Caribbean will likely add another $1 billion to $2.5 billion to the total. Hurricane Ivan was large …