Oakland, Calif.-based EQECAT, Inc., a subsidiary of ABSG Consulting, has provided the hurricane and earthquake risk assessment, and the design of the parametric insurance contracts for the formation and operation of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) that became …
Guy Carpenter & Company, the global risk and reinsurance specialist of the Marsh & McLennan Companies, has published a new study on the “Global Terror Insurance Market.” It contains information from “six continents and 34 countries,” said the announcement, and …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on the core subsidiaries of France’s insurance and asset management group AXA to “AA” from “AA-.” The new, extremely strong rating reflects “the successful …
Standard & Poor’s Ratings Services will hold a telephone conference call today, June 12, 2007, at 11:00 AM Eastern Standard Time, 4:00 PM U.K. Time, to present an overview of its ratings outlooks for the U.S. P/C sector. The conference …
Insurance Australia Group said it has already received “over 6,000 claims” from the storms that have battered the coast of the State of New South Wales (See IJ web site June 11). IAG said it expects to receive more claims; …
It took O’Charley’s regional operations director in Hattiesburg, Miss., most of a week to get in touch with the restaurant chain’s Nashville, Tenn. headquarters after Hurricane Katrina pounded the Gulf Coast two summers ago. This summer, though, Dan Hunter has …
A double whammy in the form of a sudden freeze followed by drought conditions has hit farms in Tennessee hard, according to agricultural officials. A line of thunderstorms last week wasn’t enough to alleviate the arid conditions. Rainfall in Middle …
Employers who lie about what their workers do to save money on insurance premiums would face fines and prison time under an agreement South Carolina legislators reached to overhaul the state’s workers’ compensation system. In addition to toughening fraud penalties, …
Editor’s Note: An earlier version of this article quoted Chris Palmer of Aon. Palmer is no longer with Aon, but instead is employed by CMM Entertainment. Insurance Journal regrets the error. Economic and political situations in a number of countries …
California Insurance Commissioner Steve Poizner signed a memorandum of understanding (MOU) with the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), the regulatory and supervisory body for all insurance business transacted in Germany. This is the first-ever MOU between the California Department of Insurance …