Catastrophe risk modeling firm Air Worldwide estimates insured losses from the recent west coast winter storm that occrred January 4-8 could reach as high as $600 million, with the vast majority of those losses in California. The estimate reflects losses …
A.M. Best Co. has assigned indicative ratings of “bbb” on senior debt, “bbb-” on subordinated debt and “bb+” on preferred stock to Bermuda-based Allied World Assurance Company Holdings, Ltd’s recently filed universal shelf registration. The outlook for all ratings is …
California’s State Compensation Insurance Fund announced it will extend credit to policyholders who have suffered a financial loss or business disruption caused by recent wind and rainstorms that struck the counties of Butte, Glenn, Kings, Marin, Placer, San Francisco, San …
A.M. Best Co. has placed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of North Pointe Insurance Company (NPIC) of Michigan, and the FSR of ‘B+’ (Good) and ICR of “bbb-” of North …
A.M. Best Co. has revised the rating outlook to negative from stable for the debt rating of “bbb” on $350 million non-cumulative perpetual preferred securities (issuer preferred securities) issued by Stoneheath Re, a Cayman Islands exempted company. Best also revised …
Thomas J. Crowley, vice president of Maran Corporate Risk Associates in Southampton, N.Y., has been appointed to the board of directors of the Independent Insurance Agents and Brokers of New York. Crowley will represent the agencies in the Metropolitan-Suburban region, …
Owners of a Texas plant that makes railroad ties were grossly negligent in failing to provide safety equipment for workers handling toxic chemicals, a pollution prevention expert testified in the first of a flurry of lawsuits by people who say …
Hurricane Katrina’s victims have put a price tag on their suffering and it is staggering – including one plaintiff seeking the unlikely sum of $3 quadrillion. Insurance companies are among the claimants. The total number – $3,014,170,389,176,410 – is the …
The Texas Department of Insurance Division of Workers’ Compensation (TDI-DWC) will hold a regional workplace safety workshop in Corpus Christi to address safety concerns in the construction and transportation industries. The Coastal Bend Safety Summit, to be held Feb. 6, …
Update: On Nov. 3, 2008, Christopher Mersereau and his corporation, Stoneymeade Farm LLC, located in Concord, Mass., entered into an agreement with the office of Attorney General Martha Coakley resolving charges originally reported in the story below. Under the terms …