The latest bulletin from Risk Management Solutions describes Hurricane Bill making landfall in southeast Newfoundland as a weak category 1 hurricane. As of a few hours ago the storm was approximately 90 miles (145 kms) north-northwest of Cape Race Newfoundland …
Private weather forecaster WSI Corp. said on Monday it still sees a quiet 2009 Atlantic hurricane season with conditions not conducive to an active year for violent storms. WSI’s updated forecast predicted a season of 10 named storms, five hurricanes …
The first hurricane of the 2009 Atlantic season may end up skipping past the United States, leaving insurers to hope that the next ominous storm clouds will come ashore with a silver lining. Insurers can face billions of dollars in …
The Atlantic could get its first named storm of the hurricane season later Wednesday, according to the U.S. National Hurricane Center. The basin’s second tropical depression is remaining just below tropical storm strength, the NHC said in its latest report …
The Colorado State University storm research team cut its 2009 Atlantic hurricane season forecast Tuesday, predicting that El Nino would trim the tally to 10 tropical storms, with four becoming hurricanes. The noted forecasting team founded by pioneering storm researcher …
During the recently completed 81st Legislative Session, the Texas legislature adopted the most significant reforms to the Texas Windstorm Insurance Association (TWIA) since 1997 with the passage of House Bill 4409 (HB 4409). This legislative reform was forced upon legislators …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of “aa-” of Spain’s Ocaso, S.A. Seguros y Reaseguros, both with stable outlooks. “The ratings reflect the company’s superior risk-based capitalization, excellent operating …
Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based insurance and reinsurance holding company Validus Holdings Ltd. to positive from stable, and has affirmed its ‘BBB-‘ counterparty credit rating on the holding company. However, in a separate bulletin …
Today marks the four-year anniversary of Hurricane Dennis, a Category 3 storm that slammed into the panhandle of Florida with sustained winds of 120 m.p.h. While Dennis inflicted more than $2.2 billion in damage in 2005 and was the first …
Two licensed insurance brokers with offices in the Brownsville, Texas, area have been charged with conspiracy, mail fraud and wire fraud in a multi-million dollar scheme, according to U.S. Attorney Tim Johnson. The U.S. Attorney’s Office for the Southern District …