The six Disaster Recovery Centers established between May 2 and June 18 helped 1,316 New Yorkers begin recovering from early April’s storms and floods that left thousands with damaged homes and businesses and prompted a presidential disaster declaration. The joint …
The Arkansas Insurance Department announced it will hold a public hearing July 27 to determine whether Insurance Commissioner Julie Benafield Bowman should revise and re-adopt Rule and Regulation 61, “Insurer Reports of Arkansas Property and Casualty Claims Experience Pursuant to …
The National Association of Professional Insurance Agents steadfastly supports state regulation of insurance, strongly opposes an optional federal charter and has cautioned carriers against adopting company-specific disclosure requirements, according to the association’s executive vice president and CEO Len Brevik. In …
Standard & Poor’s Ratings Services has issued a new report – “Reinsurance Criteria: Larger Losses And Better Modeling Prompt Changes To Property Catastrophe Criteria-” that examines the upsurge in Cat Losses. S&P notes that “since the early 1990s, catastrophic loss …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Spain’s Ocaso, S.A. Seguros y Reaseguros, with a stable outlook. “The rating reflects the company’s superior risk-based capitalisation, excellent and stable operating performance and …
Two new reports from the U.S. Fire Administration show that 2,500 children and 2,300 seniors were injured or killed in residential fires in the United States in 2002. Michael Brown, under secretary of the U.S. Department of Homeland Security for …
Fitch Ratings has affirmed the ‘AA+’ insurer financial strength ratings on State Farm Mutual Automobile Insurance Company (State Farm), State Farm Life Insurance Company (State Farm Life), and State Farm Life and Accident Assurance Company. The Rating Outlook is Stable. …
Shell Canada announced on Monday that it has achieved final settlement with insurance underwriters on a loss of profit claim related to the Jan. 6, 2003 fire at the Muskeg River Mine. Shell’s share of proceeds from the final settlement …
AIR Worldwide Corporation (AIR) announced that PICC Property and Casualty Company Limited (PICC) has completed the first earthquake risk analysis using AIR’s China earthquake model. Guy Carpenter coordinated the analysis of the PICC portfolio, which represents more than 60 percent …
Twenty-one health and fire safety advocacy organizations came together recently in Washington, D.C. to urge consumers not to use fireworks, including sparklers, this Independence Day holiday because of the injuries and damage they cause. Each year, most people injured by …