The Rhode Island state board responsible for overseeing Rhode Island’s fire code should update its own regulations and should seek change through the General Assembly only as a “last resort,” said Senate President Joseph Montalbano. State legislators this year considered, …
Lloyd’s turned in a strong first half, booking a pretax profit of £1.807 billion ($3.65 billion), compared to £1.351 billion ($2.732 billion) for the first six months of 2006. Despite the subprime lending crisis, Lloyd’s said its investments “returned over …
Swiss Re announced the launch of its “Climate Adaptation Development Program” (CADP) at the Clinton Global Initiative 2007 meeting, which took place in New York on Sept.26-28. The Program is “designed to develop a financial risk transfer market for the …
Gov. Mike Easley declared Spruce Pine, N.C. a state disaster area to help offset damages caused by a series of fires Aug. 4 and Aug. 5, making the town eligible for financial assistance. More than 50 businesses were significantly impacted …
Safeco has deployed claims professionals to help customers in Minnesota and North Dakota recover from a damaging hail storm that occurred September 20-21. Safeco claims representatives arrived in the area shortly after the storm to assist customers whose property was …
An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee on Wednesday that a major tax advantage for certain foreign insurance groups could threaten the future of the domestic insurance industry. The …
Fitch Ratings has upgraded the Issuer Default Rating (IDR) and senior debt rating of PMA Capital Corp. to ‘BBB-‘ from ‘BB-‘ and to ‘BB+’ from ‘B+’ respectively. Fitch also upgraded the Insurer Financial Strength (IFS) ratings of the three active …
The Montana Department of Labor says that 45 people were killed in the workplace last year. The agency says that number is down a bit from the previous year. The natural resource and mining industry was the most deadly, accounting …
Overland Park, Kan.-based Brooke Corp. was recently named in a lawsuit that alleges the company participated in fraud, negligence and violated the federal RICO Act (Racketeer Influenced and Corrupt Organizations Act). Arthur C. Mann, president of IGWT Insurance Services in …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “a-” and the existing debt ratings of the UK branch of Old Mutual plc (OM). Best also affirmed the financial strength ratings (FSR) and ICRs of OM’s key European …