In a rather timely announcement, Oakland Calif.-based EQECAT, Inc., a subsidiary of ABSG Consulting, announced that Catlin Underwriting Agencies Limited, a wholly owned subsidiary of Catlin Group Limited, specializing in P/C insurance and reinsurance, has licensed its Gulf of Mexico …
Risk Management Solutions announced that a $200 million Multi-Peril Securitization has become the first catastrophe bond issued using RMS Paradex Europe WiNdstorm index for risk analysis. RMS said it has “performed the risk analysis for a catastrophe bond covering four …
AIR Worldwide Corporation announced that Bermuda-based reinsurer Tokio Millennium Re Ltd. has licensed the use of AIR’s Multiple Peril Crop Insurance (MPCI) model for use in AIR’s CATRADER® system, which analyzes catastrophe reinsurance and insurance-linked securities. “We have been using …
The Delaware Superior Court has ruled that a directors and officers insurance company must pay defense costs on behalf of its policyholder to the full policy limits against a criminal indictment alleging many wrongful acts over an extended period involving …
Delaware has new laws protecting homeowners from insurance policy cancellations, allowing teens in foster care to get drivers licenses and protecting firefighters from being dropped by their auto insurance. Governor Ruth Ann Minner signed into law Senate Bill 191. S.B. …
Tropical Storm Edouard forced shut a huge U.S. offshore oil port, a refinery, some oil production and disrupted shipping as the storm raced toward the Texas-Louisiana coast Monday. Energy companies evacuated staff from offshore platforms due to Edouard, the second …
Consumer advocate and owner of Pinnacle Insurance, Steve Desino, had an insured call after returning from a week’s vacation to a ruined living room rug. When Desino inquired as to the cause of the loss, the insured said, when getting …
The number of homes found damaged or destroyed in tornado-ravaged Rolette County in North Dakota continues to rise. The state Department of Emergency Services says 12 homes have been destroyed and 18 have been damaged in Rolla from the July …
A tanker airplane has been used to dump water on six different fires in southern and central Arkansas, the state Forestry Commission said Aug. 1, warning that the danger of wildfires is now very high. Sixteen Arkansas counties have imposed …
The Wyoming Supreme Court has upheld workers’ compensation death benefits for the widow of a man who was paralyzed by a workplace injury and who died years later of pneumonia. David Fisher was paralyzed by an accident while working for …