Standard & Poor’s Ratings Services has assigned a “BBB+” rating to RenRe sidecar – Starbound Re II Ltd’s.proposed bank loans. Starbound II is a limited-life, special-purpose Class-3 reinsurance company, domiciled in Bermuda and set up specifically to provide additional capacity …
A.M. Best Co. has upgraded the financial strength rating to “B++” (Good) from “B+” (Good) and the issuer credit rating to “bbb” from “bbb-” of Hong Kong’s Tugu Insurance Company Limited, and assigned a stable outlook. Best indicated that the …
Boston-based AIR Worldwide Corporation announced a collaboration agreeement with the China Earthquake Administration’s (CEA) Institute of Geology to research active faults and conduct “paleoseismic studies” in China. AIR said the findings of the research would enhance its China earthquake model …
Officials closed a 35-mile stretch of Interstate 75 from the Georgia-Florida state line to Lake City, Fla., as well as a 40-mile stretch of Interstate 10, from U.S. 90 to U.S. 129, as a gigantic wildfire approached them over the …
A Georgia insurance agent forged the signatures of residents of a facility that treats people with developmental disabilities or traumatic brain injuries so she could obtain Medicare Advantage policies in their names and pocket the commissions, authorities said. An arrest …
A federal judge Friday denied State Farm Fire & Casualty Co.’s request for a new trial in a Hurricane Katrina case that could cost the company more than $1.2 million. Judge L.T. Senter Jr. saw no reason to grant a …
The Federal Emergency Management Agency has added 11 West Virginia counties to an earlier disaster declaration by President Bush stemming from last month’s flooding. The additional counties that can seek federal funds to help clean up damage to public facilities …
The Insurance Institute of Indiana and national insurance trade associations are warning consumers that they may suffer because of a gubernatorial veto of House Enrolled Act 1274. The bill would have banned police departments from sending motorists a bill after …
Two insurance companies providing coverage for Deere & Co. were awarded $39.5 million in a case stemming from a warehouse fire six years ago in Mount Joy. An eight-member jury decided in favor of Royal Indemnity and Federal Insurance after …
Demand for weather risk management tools – futures, derivatives and insurance – continues to be strong worldwide, according to The Weather Risk Management Association (WRMA), the international trade group representing the weather risk industry. The results of WRMA’s latest industry …