With its chairman proclaiming the program is at a “crossroads,” the U.S. Senate Banking Committee this week advanced bipartisan legislation to bolster the nation’s debt-ridden flood insurance program. Insurance trade groups generally support the legislation, the Flood Insurance Reform and …
Specialty insurer Praetorian Financial Group said it has agreed to acquire Alea North America Specialty Insurance Company (ANASIC), an affiliate of Alea Group Holdings (Bermuda) Ltd of Hamilton, Bermuda. ANASIC is a Delaware-domiciled stock insurance company with surplus lines authority …
Average total costs per workers’ compensation claim in Pennsylvania showed steady growth, increasing more than 8 percent for claims evaluated in mid 2004 with 12 months’ maturity, according to a new report by the Cambridge, Mass-based Workers Compensation Research Institute …
Liberty International Underwriters, a division of Liberty Mutual Group,- has reached an agreement to acquire the renewal rights to Quanta U.S. Holdings Inc.’s environmental liability business. Terms of the transaction were not disclosed. “Estimates for the environmental impairment liability market …
Robert Genin embarked on a paper chase in Bay St. Louis, Miss. soon after Hurricane Katrina swamped the house he and his wife, Mary, bought here 35 years ago. The Aug. 29 storm washed away all his belongings, including financial …
Bermuda-based Quanta Capital Holdings Ltd. announced that “following the evaluation of strategic alternatives, and in consultation with its financial advisors, the Board has decided to cease underwriting or seeking new business and to place most of its remaining specialty insurance …
A report compiled by the Australian government’s Department of the Environment and Heritage – Australian Greenhouse Office, concludes: “Evidence that the Earth is warming has become much stronger since the IPCC Third Assessment Report was published in 2001. The surge …
An informal AAA poll of state lawmakers suggests that the Michigan House of Representatives has the number of votes needed to repeal the state’s 37-year-old mandatory motorcycle helmet law. It is estimated that the repeal will result in 22 additional …
Maine Emergency Management Agency Director Arthur Cleaves is leaving his state post become New England director of the Federal Emergency Management Agency. Gov. John Baldacci announced Cleaves’ departure last Friday. Word of Cleaves’ move had circulated during the week as …
Fiserv Insurance Solutions, a unit of Fiserv, Inc. (Nasdaq: FISV), and Scene Genesis Inc. (SGI) recently unveiled a strategic alliance to provide integration for processing auto and property insurance claims more efficiently. The combination of Fiserv and Scene Genesis solutions …