A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2001, managed by Amlin Underwriting Limited (AUL). Best also affirmed the ICR of “bbb+” of Amlin …
A report prepared by Dr. Eberhard Faust, who heads Munich Re’s Climate Change Research Department, points to some significant changes in the hurricane risk factors in the North Atlantic. Munich Re notes: “The elevated frequency of intense storms in 2004 …
The Department of Homeland Security’s Federal Emergency Management Agency (FEMA) has approved a total of $11,165,419 in public assistance for the Alabama Department of Conservation and Natural Resources (ADCNR). The funds will offset costs for the removal of wet debris …
Calif. Insurance Commissioner John Garamendi has announced the arrests of 17 suspects in connection with an alleged Southern California insurance fraud scheme that netted more than $100,000 through ruse involving a former claims adjuster and 16 co-conspirators. The arrests followed …
The Citizens Property Insurance Corp. board of governors has decided to approve higher premium increases that average 45 percent on Florida’s coast and 21 percent inland. The state’s insurer of last resort had already asked for a 17 percent rate …
In a letter to House Speaker Dennis Hastert (R-Ill.), Property Casualty Insurers Association of America (PCI) President and CEO Ernie Csiszar urged congressional support for a proposal by Mississippi Gov. Haley Barbour to provide federal grants to homeowners whose homes …
In an effort to avoid a repeat of Hurricane Katrina’s deadly damage on the levee system in New Orleans, President George W. Bush is asking for another $1.5 billion to help restructure the system. With the 2006 hurricane season predicted …
The California Department of Insurance (CDI) reported its major role in the bust of a major auto theft ring that could potentially have generated more than $420,000 in insurance fraud. The CDI Fraud Division was reportedly a key part of …
Florida-based eAutoclaims, a provider of managed collision repair services and insurance claims processing technology applications, reported financial results for the first quarter ending Oct. 31, 2005 for fiscal year 2006. Total revenue for the three-months ended Oct. 31, 2005 was …
New York Gov. George Pataki announced $580,000 in funding to help 22 families replace their homes, which were damaged this past spring by the worst flooding to occur in Ulster County in 50 years. The Governor’s Office for Small Cities …