Risk Management Solutions has stated that, based on its analysis of the area exposed to the New Zealand earthquake, it “currently expects that approximately 60-70 percent of the insured loss will be residential, and 30-40 percent will be commercial and …
Global reinsurance companies are reconsidering their choices of corporate domicile, according to a new report from Standard & Poor’s Ratings Services, titled “Choosing A Domicile Remains A Hot Topic For Global Reinsurers.” S&P notes that the “choice of domicile–which can …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the operating company, Alterra Bermuda Limited (formerly Alterra Insurance Limited), which is an amalgamation of Alterra Capital Holdings Limited’s …
A special report from A.M. Best concludes that “robust earnings reports mask challenges ahead for the global reinsurance industry: a convergence of market pressures, low interest rates and tightening financial and market regulations that could impact the industry’s capital. “These …
The Los Angeles Times reports state regulators are seeking fines of up to $9.9 billion from Cypress-based PacifiCare, however the fine, if there is one, is likely to be much less than the maximum allowed. Citing court filings and other …
Uninsured minority pedestrians hit by cars are at a significantly higher risk of death than their insured white counterparts, even if the injuries sustained are similar, new research from Johns Hopkins suggests. The death rate disparity is compounded by the …
Washington’s Department of Labor and Industries has reported its total collections to the state’s workers’ compensation insurer for the past year are at their highest level since 2007, at $137.3 million. One reason for the increase, L&I said, is its …
Rural fire chiefs in Arkansas say they are finding it harder to recruit younger members to be part of rural fire departments. The time commitment coupled with the lack of financial benefits is taking its toll on area emergency services. …
At a hearing yesterday before the Florida Office of Insurance Regulation, Citizens Property Insurance Corp. officials blamed sinkholes as the major reason the public insurer needs a rate increase. Testifying at the public hearing in Tallahassee, Paul Palumbo, a senior …
Thick, black smoke from a brush fire along a southeast Missouri highway on Labor Day caused a chain-reaction crash that injured 26 people, including four seriously, authorities said. Authorities said a brush fire along Highway 60 near Dexter in Stoddard …