Hurricane Katrina exposed the costly problem of arbitrary overrides to analysts examining the effect of insurers’ inflated loss ratios resulting from the disaster. Naturally, a number of price overrides are justified based on specific loss conditions, and a disaster the …
Contrary to popular belief, climate is not a good gauge for mold risk, according to a ranking of states at risk for mold contamination on commercial and residential property. Areas with dry climates like Nevada and Arizona made it American …
Most people hear the word asbestos and think of home insulation, deteriorating ceiling tiles, or scuffed flooring. What few realize is that the soil in their yard, school athletic field, or neighborhood park might be tainted with the mineral. The …
Cars donated by insurance companies around the state will soon be put out as bait for Shreveport, La.’s thieves. They’ll be left out on the street as soon as officers can be taught how to use their high-tech tracking equipment. …
Last fall’s capsizing of a tour boat that killed 20 people on Lake George, N.Y., including 19 from Michigan, has led to two more lawsuits. One filed by the estate of Marjorie H. Perry, 77, Livonia, Mich., says the makers …
Dallas-based Tenet Healthcare Corp. said insurance companies paid it $340 million to cover claims from Hurricane Katrina, which damaged five of its hospitals in the New Orleans area and one in Biloxi, Miss. Tenet said it settled with the insurers …
The family of a boy who was shot to death by a boy in his foster home will receive a $100,000 settlement from the boy’s former foster parents, but a lawsuit against the state continues. The insurance carrier for former …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating of “a” of Bermuda-based Rembrandt Insurance Company, Ltd., a captive operation of Vitol Holding B.V. (Rotterdam), a global oil trading company. The outlook …
A.M. Best Co. has assigned a Best’s Syndicate Rating of “A” (Excellent) and an issuer credit rating of “a” to Lloyd’s Syndicate 2020, managed by Wellington Underwriting Agencies Limited (WUAL). The outlook for both ratings is stable. “The ratings reflect …
A.M. Best Co. has downgraded the issuer credit rating (ICR) to “bbb” from “a-” of the U.K.-based Wellington Underwriting plc (WU), the non-operating holding company of the Wellington group. At the same time, Best assigned debt ratings of “bbb-” to …