Nearly 400 Connecticut jobs are being affected as The Hartford Financial Services Group outsources data services. The Hartford has signed a five-year contract with IBM, which will support and maintain systems and data center equipment used to run them. The …
A cell phone ban for Maryland drivers has been considered — and rejected — many times by state lawmakers. However, two new plans before lawmakers have some asking if this is the year Maryland will join Washington, D.C. and the …
North Carolina Insurance Commissioner Jim Long has approved an average 5.4 percent increase in homeowners insurance rates beginning May 1. Long said the “increase is significantly lower than what companies originally asked for.” He said that the rising cost of …
Traffic fatalities in Tennessee have gone down slightly over the past two years following the passage of two important driver safety laws, according to preliminary statistics from 2006. The state lowered the minimum blood-alcohol content to 0.08 percent for drunken …
Oakland, Calif.-based EQECAT said, that “based on its simulation of last week’s European winter storm Kryill, including currently available information provided by several European meteorological services, initial estimated insured losses in Western Europe range from about €2.5 billion to about …
Bermuda’s PartnerRe Ltd. announced that claims relating to its exposure to Windstorm Kyrill, which hit Europe last week, are expected to be between $50 and $65 million. “Windstorm Kyrill battered the U.K., France, the Netherlands, Germany and several other Northern …
Risk Management Solutions (RMS), has released its initial estimate for insured losses from Windstorm Kyrill, indicating that it expects them to be between €3 billion and €5 billion ($3.9 billion and $6.5 billion). RMS’ estimates are somewhat lower than fellow …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating of “a+” of UK-based Heddington Insurance Limited (HUK), a captive company of Chevron Corporation. The outlook on both ratings remains stable. “HUK benefits …
The UK’s Financial Services Authority (FSA) announced that “the insurance industry has met the challenge laid down to achieve a solution to contract certainty in the UK. This has resulted in a more efficient market for buyers, brokers and insurers …
The Contract Certainty Steering Committee (CCSC), the London market’s insurance industry body responsible for leading the contract certainty initiative, welcomed the FSA’s announcement confirming that the industry has delivered on its objective of contract certainty (See previous article). “Since December …