Insurance companies are reportedly making significant progress in settling the record number of claims from Florida’s historic hurricane season which resulted in insured losses of more than $21 billion. Insurers in Florida have closed more than 1.3 million claims, or …
The Louisiana Department of Insurance reported that more than 8,000 Louisiana claimants are receiving a reassessment form this month in a letter from UnumProvident Corp. as part of a multi-state settlement. Completing the form will entitle them to a reassessment …
Dangerous flooding and snowstorms are occurring across the country this week. Although people might first think of flooding as a summertime occurrence, winter flooding causes millions and sometimes billions of dollars of damage each year. No area of the country …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Japanese reinsurer The Toa Reinsurance Company, Limited, and has assigned an “aa-” issuer credit rating (ICR) to Toa Re. The outlook for both ratings, …
Global insurance broker Willis Group Holdings has released its reinsurance review of the marketplace for the January 1, 2005 renewals. The Willis Re report includes information on rate movements and commentary from territory and class line experts, including aerospace and …
Standard & Poor’s Ratings Services came down a bit harder on ACE Limited’s ratings than A.M. Best following the announcement that the company would increase its reserves for asbestos and environmental claims by $298 million (See IJ Website Jan. 6). …
A.M. Best Co. announced that it has affirmed the financial strength rating of ‘B-‘ (Fair) of Cayman General Insurance Company Limited, has removed the rating from under review and assigned a negative outlook. Subsequently, Best said it had “withdrawn the …
The number of motorcycle fatalities hit the highest level in a decade in Maine in 2004, and riders who die are more likely to be baby boomers than teenagers on sport bikes, according to state officials. The number of motorcycle …
Attendees at November’s annual PLUS International Conference, held in San Diego, learned much about today’s professional liability market. Insurance Journal National Editor Andrea Ortega-Wells and Online Editor Dave Thomas spoke with some of the participants on a variety of subjects …
A Modesto, California chiropractor and two employees were arrested early Thursday on charges that they repeatedly billed for services that were unnecessary or never rendered from 1996 through 2004, potentially costing insurers more than $10 million. Chiropractor Wilmer Dorado Origel, …