The Army Corps of Engineers reported last week that 122 levees from Rhode Island to California are at risk of failing, potentially affecting thousands of people and requiring millions of dollars in repairs. Residents of communities near some levees could …
A state hearing officer recommended Friday that Delaware’s insurance commissioner approve the proposed management buyout and eventual dissolution of Royal & Sun Alliance Insurance Group’s U.S. operations. The proposed buyout was the subject of a lengthy hearing last month, and …
The Hartford Financial Services group says it will drop about 38,000 property insurance policies in the next 18 to 30 months, about a third of its business and personal policies in the state. However, The Hartford’s 80,000 Florida participants in …
A small earthquake along the New Madrid Fault shook two towns in far western Kentucky, but no injuries or damages were reported. The magnitude 2.9 quake, centered 3 miles northwest of Bardwell, was recorded at 5:47 p.m. CST last Wednesday, …
Government and American Red Cross disaster experts from New York, London and Madrid — three cities hit by terrorist attacks in recent years — met last week in New York for a two-day conference to share experiences and improve response …
Transatlantic Holdings, Inc. reported that its net income for the year ended December 31, 2006 was $428.2 million, or $6.46 per common share (diluted), compared to $37.9 million, or $0.57 per common share (diluted), in 2005. Net income for the …
Newark, Calif.-based – Risk Management Solutions, a provider of products and services for the management of catastrophe risk, announced the appointment of Dr. Celine Herweijer to the position of “Principal Scientist, Future Climate.” RMS stressed that the new role “reflects …
Standard & Poor’s Ratings Services has placed its “BBB” long-term counterparty credit and insurer financial strength ratings on Oslo-based non-life insurer Bluewater Insurance ASA on CreditWatch with negative implications. “The CreditWatch placement follows the announcement by Bluewater that it has …
Bermuda’s XL Capital Ltd. announced that, based on current analysis, its pre-tax net loss relating to European Windstorm Kyrill is estimated to be in the range of $60 to $75 million. XL noted that the majority of its losses are …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit ratings (ICR) of “a” of the Bermuda-based Platinum Underwriters Group and its members. Best also affirmed the ICR of “bbb” of Platinum Underwriters …