When a sudden storm whipped through Brookfield, Vermont two weeks ago, it wreaked havoc. Chunks of century-old maples were ripped down, felling power lines and leaving piles of debris across roads. “We’ve been at it for a week, and we …
Air Force officials are reviewing more than $200 million in claims stemming from the forest fire that destroyed 17,000 acres of the Pinelands in May. The Air Force estimates it has paid approximately $2 million to reimburse residents for property …
Six years after September 11, 2001, the threat of terrorist attack remains a source of tremendous uncertainty for the United States economy, with potentially negative consequences for both business interests and employment, according to the Insurance Information Institute (I.I.I.). “Besides …
Standard & Poor’s Ratings Services has assigned its ‘AA-‘ counterparty credit and insurer financial strength ratings to Luxembourg-based composite reinsurer Swiss Re Europe S.A. with a stable outlook. “The ratings on Swiss Re Europe reflect its core status within the …
Standard & Poor’s Ratings Services’ new report – “Asia-Pacific Reinsurance Markets Remain Stable Despite Softening” – indicates that ratings on global and domestic reinsurers in the Asia-Pacific markets are expected to remain stable, “reflecting regional market growth, satisfactory underwriting results, …
Guy Carpenter & Company, LLC has released “The Lloyd’s Market in 2007,” its fifth annual review of Lloyd’s financial and operational performance. Overall Lloyd’s is probably in the healthiest position it has ever been in. It reported record results for …
Swiss Re said it “will continue to remain focused on economic profit growth, at the expense of premium volume, if necessary,” adding that the world’s largest reinsurer “is well positioned for the upcoming renewals in January 2008, due to its …
Aon Re Global announced from the Reinsurance Rendezvous in Monte Carlo that it has released its sixth annual Reinsurance Market Update. Among the highlights included in the publication, Aon cited the following: — Reinsurance market risk spreads are narrowing– directionally …
In testimony today before the North Carolina Building Code Council, the American Insurance Association urged that stronger hurricane resistant construction standards be required for all areas of the coast vulnerable to hurricane-force winds. “Adopting and enforcing all building code provisions …
Whether work deserves pay doesn’t depend on how demanding it is, an appeals court ruled last week in reviving a lawsuit filed by workers at a Tyson Foods poultry plant. The workers seek pay for the time they spend donning …