A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Luxembourg-based Casiopea Re S.A., the reinsurance captive of Spain’s Telefonica S.A., with a stable outlook. The ratings reflect Casiopea Re’s …
Munich Re’s annual general meeting yesterday, April 26, highlighted the reinsurer’s strengthened economic position, strong 2006 and first quarter results and improving prospects for the future. Shareholders got an added bonus with the announcement that the Group would raise its …
Italy’s Generali Group has concluded an agreement with PPF Group N.V., an international financial group, headquartered in Amsterdam, Netherlands, which is 95 percent controlled by Petr Kellner, a Czech entrepreneur with a strong track record of success. PPF Group in …
George Viso, owner of George Viso Insurance Agency in West Hollywood, Calif., has died of cancer. Viso operated his agency for more than 25 years and was a fixture at Latin American Agents Association meetings and events. Services were held …
U.S. property and casualty insurers are expected to pay some $1.22 billion for catastrophic events during the first quarter, including severe tornadoes in several southern states, according to a company that tracks insurance data. The ISO Property Claim Services unit …
Many small business owners in New York and the Northeast are still trying to recover from floods caused by as much as eight inches of rain earlier this month. Those who had flood insurance can recoup some of their losses, …
California Insurance Commissioner Steve Poizner is alerting senior citizens and their families to make certain they or their loved ones are not victims of a pre-paid funeral scam which targeted the elderly in Southern California. A California Department of Insurance …
Spiraling-malpractice insurance costs appeared to have little effect on the number of doctors in high-risk specialties practicing in Pennsylvania over a 10-year period, according to a new study. Opponents of efforts to limit pain-and-suffering awards in medical malpractice lawsuits said …
Citizens Property Insurance Corporation’s board of governors gave its approval Thursday of expanded commercial property insurance coverage for small businesses across Florida. “Our goal is to make coverage available as quickly as possible to the Florida small business community which …
With claim costs continuing to rise in South Carolina, the National Council on Compensation Insurance (NCCI) is recommending that the workers compensation loss cost level be increased by 23.7 percent. “This news highlights the need to reform the state’s workers …