Delaware voters face a choice in this year’s election for state insurance commissioner between a Democratic counsel to the current governor who vows to “stand up for Delawareans” and a Republican veteran legislator who lays claim to being a “great …
Preliminary reports from insurers indicate that Hurricane Frances will produce significantly more claims than Hurricane Charley, but the average claim will not be as high, according to Des Plaines, Ill.-based Property Casualty Insurers Association of America. “Early reports indicate damage …
A.M. Best Co. announced the release of the “third flow” of its 2004 Underwriting Guide, a series designed to provide underwriters and risk managers with a “better understanding of industrial and commercial risks.” Best noted it’s been publishing the Guide …
Hurricane Frances finally came ashore late Saturday night, after what seemed like an interminable waiting period for most Floridians, especially those on the East Coast. The giant storm packed hurricane force winds as far out as 85 miles on each …
Predictions of a “busy” hurricane season are proving all too true. While Frances is still churning the waters of the Gulf of Mexico off the Florida panhandle, Ivan continues to gather strength off the coast of Venezuela. The National Hurricane …
Risk Management Solutions (RMS) has announced that potential insured losses could range from $2 to $20 billion based on the latest forecasts for Hurricane Frances. Uncertainty in the storm’s track and intensity increased overnight as Frances slowed down and weakened. …
For two months, Jacob Sevlie’s insurance company tagged along whenever he slid behind the wheel of his Honda Accord. An electronic monitor the size of a matchbook closely tracked Sevlie’s driving time and behavior. If he had a heavy foot …
A.M. Best Co. has recently taken rating actions on several Florida insurance companies in response to their reduced risk-adjusted capitalization due to losses from Hurricane Charley, as well as potential exposure to subsequent catastrophic events. With the significant threat to …
The historic one-two punch of Hurricanes Frances and Charley will make the claims handling process in Florida more difficult, but still manageable, according to the Insurance Information Institute (I.I.I.) The I.I.I. stressed that the insurance industry anticipates such catastrophic events …
The St. Paul Travelers Cos. announced today that it estimates losses from Hurricane Charley to be about $140 million, after tax and reinsuranc. St. Paul Travelers’ commercial book of business saw about $79 million in losses, the specialty lines about …