A.M. Best Co. announced that it has affirmed the issuer credit rating (ICR) of “bb+” and the debt ratings of Toronto-based Fairfax Financial Holdings Limited. At the same time Best affirmed the financial strength rating of “A-” (Excellent) of Crum …
Mike Hammond, the CEO of Jardine Lloyd Thompson Risk Solutions Ltd., told delegates at a conference in Lugano, Switzerland, that the “insurance industry must invest in the necessary technical skills if it is to achieve the efficiencies in the process …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Bermuda-based insurer The United Kingdom Mutual Steamship Assurance Association (Bermuda) Ltd. (the U.K. Club or the club) to negative from stable. At the same time, S&P affirmed …
New York residents affected by the April 2-4 storms and floods may be eligible for various forms of tax relief that could lessen some losses, federal and state recovery officials said. The U.S. Internal Revenue Service permits those with casualty …
Black Diamond Group, a merchant bank specializing in insurance industry investments, announced the appointment of Texas Insurance Commissioner Jose Montemayor as managing general partner of the Black Diamond Group. Montemayor will start in June 2005. The firm’s focus is in …
The Department of Homeland Security’s Federal Emergency Management Agency (FEMA) delivered Incident Management training this week for the San Diego region’s newly formed all-hazards incident management team (IMT). The All-Hazards Incident Management Team training is part of a technical assistance …
Court statistics were improperly used in a study released last week that concluded the Illinois tort system is not the cause of medical malpractice premium increases, according to the American Insurance Association (AIA). “Medical Malpractice and the Tort System in …
A Lockport, New York automotive parts manufacturer’s reported failure to keep proper records of hundreds of workplace injuries and illnesses has resulted in $42,000 in proposed penalties from the U.S. Labor Department’s Occupational Safety and Health Administration (OSHA). Delphi Thermal …
New York residents and business owners in the 11 disaster-declared counties who sustained damage from the April 2-4 severe storms and floods have one month to apply for disaster assistance. June 20, 2005 is the last day registrations will be …
As Florida prepares for the June 1 start of a new hurricane season, there are measurable signs of recovery from last year’s disasters. Families are moving out of temporary housing. Communities are in the process of making permanent repairs to …