Standard & Poor’s Ratings Services has withdrawn its ‘BBB+’ counterparty credit rating on Panther Re Bermuda Ltd.’s senior secured Term A loan and its ‘BB+’ rating on Panther Re’s subordinated Term B loan at the issuer’s request. “The rating withdrawal …
Boston-based AIR Worldwide’s analysis of Nargis, the deadly tropical cyclone, which struck Myanmar’s (Burma’s) densely populated Irrawaddy River Delta region (See IJ web site – https://www.insurancejournal.com/news/international/2008/05/09/89875.htm), notes that powerful storms in the area have been increasing over the years. “The …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and senior unsecured debt ratings on Toronto-based specialty insurance provider Kingsway Financial Services Inc. to ‘BB’ from ‘BB+’. S&P also lowered the debt ratings on Kingsway’s subsidiaries to ‘BB’ …
An earthquake with a magnitude of 7.5 struck China’s Sichuan province on Monday, less than 100 km (60 miles) from the provincial capital of Chengdu, the U.S. Geological Survey said on its web site. The quake was felt across much …
San Francisco officials say an investigation has found the city not liable for injuries suffered by two brothers attacked by an escaped zoo tiger. In a letter released Friday, May 9, 2008, City Attorney Dennis Herrera denies claims filed by …
A group of Ohio employers who say their businesses are being crushed by injured-worker insurance rates that the state modified last year has asked the state’s watchdog to take another look at the program. The newly formed coalition, We’veHadEnough.Net, told …
Three businesses sued on Friday, May 9th to halt a state fee increase for obtaining driver’s license and vehicle records, claiming the higher fee violates Missouri’s open-records law as well the state and federal constitutions. The lawsuit, filed by companies …
A man who was seriously burned when an Anderson County, Tenn. oil well exploded as he was driving past is suing the company and its owner for $4.5 million, claiming negligence. The well near Oliver Springs, Tenn., ignited March 19 …
Workers’ compensation costs per claim in Florida appear to have decreased in 2004 in the wake of reforms enacted in 2003, but the decrease did not continue in 2005, according to a new study by the Workers Compensation Research Institute. …
Reed Smith has named Christina Shea of counsel for its international insurance recovery practice in San Francisco. Shea’s practice focuses on insurance coverage litigation, representing corporate policyholders in matters involving third-party liability and first-party property damage. She has also represented …