The receipt of an arbitration demand in the reinsurance world usually results in a flurry of activity for the professionals employed in claims and legal departments. It can mean the need to collect file materials, retention of outside counsel to …
Congress officially has a new bill to reauthorize the federal terrorism reinsurance program. Two Democrats from Massachusetts — U.S. Rep. Mike Capuano and the Chairman of the House Financial Services Committee Barney Frank — have introduced H.R. 2761, the Terrorism …
After years of legal wrangling, the nation’s largest Roman Catholic archdiocese may finally move to settle hundreds of clergy sex abuse claims against it following several legal setbacks and the prospect of jury trials in the months ahead. Fifteen trials …
Roadside inspections found slightly fewer mechanical problems with tractor-trailers in Missouri last year, but the state still logs a higher percentage of flaws than Kansas or Oklahoma. Federal statistics show that just under 30 percent of 76,045 inspections at Missouri …
Efforts to better safeguard homes from the threat of wildfire have taken off in mountain communities throughout Arizona, with homeowners cutting down trees, removing wood piles, raking leaves and caulking around windows to keep embers out. Last year, 17 communities …
The Workers Compensation Insurance Rating Bureau of California has released its report on workers’ compensation losses and expenses for 2006. The report is prepared annually pursuant to Section 11759.1 of the California Insurance Code. According to the report, in 2006, …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and issuer credit ratings (ICR) of “aa-” of Travelers Insurance Companies and its P/C members. Best also affirmed the debt ratings of “a-” on senior debt, “bbb+” …
Fitch Ratings has affirmed the insurer financial strength of the major insurance entities of the Coface group at “AA+”, citing their strategic importance within the French financial group Natixis and strong standalone financial strength. Fitch also affirmed Coface SA’s issuer …
State Farm Mutual Automobile Insurance Co. announced it is lowering its overall automobile insurance rate level in Colorado an average of 7.2 percent beginning July 16. The rate reduction represents an annual savings of $38.8 million to the company’s Colorado …
A federal judge has sided with the state of Oklahoma on several legal challenges brought by the poultry industry in an attempt to dismiss a lawsuit filed by Oklahoma Attorney General Drew Edmondson. After two days of hearings in federal …