“Canada’s property/casualty insurance sector is stable, but strong capitalization and profitability provide the ingredients for continued softening in the market,” indicates a new report from A.M. Best on the country’s insurance industry. Best also noted that “pricing is down across …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that it is set to “make a payout of approximately $6.3 million to the government of the Turks and Caicos Islands, within the terms of that country’s hurricane policy which was purchased …
The Chubb Group announced that it has”expanded its multinational insurance group to encompass both Chubb’s standard P/C products and specialty coverage, such as directors and officers liability insurance. Chubb added that with additional “dedicated employees” located “around the globe,” its …
A new report published by Lloyd’s, as part of its “360 project,” and Risk Management Solutions (RMS), warns that “without adaptation, insurance losses from coastal flooding for high-risk properties could double by 2030. The research shows that, with an effective …
A ranch company found negligent in a 2005 landslide that killed 10 people has agreed to sell its assets to pay for damages, the plaintiffs announced. A jury in August faulted La Conchita Ranch Co. for failing to build adequate …
A Mississippi couple who accused their insurance company of using fraudulent Hurricane Katrina damage reports to keep from paying claims now says there’s no evidence the insurer acted negligently or in bad faith. A judge dismissed the bad faith portions …
Three months after devastating floods swept parts of the state, emergency officials urged Indiana residents on Friday, September 6 to take a lesson from that disaster and prepare now for the next natural or manmade calamity. June flooding that damaged …
Louisiana’s insurance commissioner estimates insured losses from Hurricane Gustav will be $1.7 billion. Jim Donelon says he projects that figure from the losses reported thus far by the state-backed Louisiana Citizens Property Insurance Corporation, which makes up about 10 percent …
General Motors Corp. is recalling about 300,000 Chevrolet HHR sport utility vehicles in the United States to fix a storage bin door that failed to remain closed during government testing. The National Highway Traffic Safety Administration said on its Web …
The Louisiana Department of Insurance in late August issued a cease and desist order, summary suspension and fine notice to a Many, La., area insurance agent for alleged misappropriation of premiums. Nancy Campbell Murphy is alleged to have converted funds …