Oklahoma senators will be under a tight timeline in October when they assume the role of jurors for the trial of impeached Insurance Commissioner Carroll Fisher, the Associated Press reported. Senators were notified via e-mail to prepare for an Oct. …
Standard & Poor’s Ratings Services has issued a bulletin indicating that it “views the approach of Hurricane Ivan, which is projected to be moving toward Florida, with concern.” Reinstatement provisions in reinsurance treaties could cause some insurers problems. With the …
Swiss-based reinsurer Converium expressed disappointment with Standard & Poor’s latest decision to lower the holding company’s ratings from “A-” to “BBB.” It also confirmed plans to place its U.S.-based subsidiary into run-off, and is considering other restructuring moves. The rating …
Hurricane Ivan continued its destructive rampage through the Caribbean over the weekend, pummeling the island of Jamaica with winds of 155 mph (250km/h), 23 foot (7 meter) waves and heavy rainfall. Ivan is one of the strongest and most destructive …
A.M. Best Co. announced several rating actions concerning the U.K.-based insurance group Royal & Sun Alliance and its subsidiary companies. Best affirmed the financial strength rating of “A-” (Excellent) of the R&SA Group and its core subsidiaries. It also assigned …
Bermuda-based Platinum Underwriters Holdings, Ltd. announced that on the basis of currently available information, it estimates that after-tax losses from Hurricane Frances, net of reinstatement premiums, will range from $25 million to $40 million. The Company noted that very few …
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has issued citations and proposed penalties to MFC Construction Co. Inc. of Dallas following its investigation of a fatal accident earlier this year in which a carpenter was killed. …
North Carolina is receiving federal aid programs to help in the aftermath of Tropical Storm Frances. The following is a summary of key federal disaster aid programs that can be made available as needed and warranted under President Bush’s major …
In the aftermath of another catastrophic hurricane that produced record rainfall amounts, Florida-based Flood Zone Correction Inc. is urging all property owners to keep the storm drains clear. Landscaping debris such as leaves, branches and other materials can clog storm …
Jeff Greenberg Marsh & McLennan Companies Chairman and CEO Jeff Greenberg remembers all too well those images of Sept. 11, 2001. Greenberg knew something had gone terribly wrong in New York City that Tuesday morning. He recently chatted in an …