Standard & Poor’s Ratings Services has affirmed its ‘A-‘ junior subordinated long-term debt rating on the €250 million ($387 million) undated, subordinated notes issued by Austria-based Wiener Staedtische Versicherung AG Vienna Insurance Group (WSV AG; A+/Positive/–), following receipt of final …
There are strong advantages to a system in which businesses facing personal injury lawsuits could promptly pay injured parties for out-of-pocket medical expenses and lost wages while avoiding long court battles, high legal fees and “pain and suffering” damages, according …
“Businesses could be facing a future liability crisis if they do not face up to growing litigation issues,” Lloyd’s warns in its latest report -“‘Directors in the Dock – is business facing a liability crisis?” The study, part of Lloyd’s …
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 …
U.S. medical liability insurers anticipate their primary rate levels to decrease in 2008, compared with 2007, while the average frequency and severity of claims sustained by their firms will remain about the same as last year, according to a survey …
American International Group, Inc. consolidated its General Insurance Claims operations naming Charles R. Schader as chief claims officer for General Insurance. Schader will now run both AIG Foreign General Insurance and AIG Property Casualty Group claims operations. He will report …
Capacity for aviation coverage appears to be increasing, but, as claims are also on the rise, the outlook for the year ahead is not one that is easy to predict. Aon aviation industry analyst, Magnus Allan, commented – in an …
Illinois Insurance Director Michael McRaith recently announced a statewide effort to enforce Illinois’ statutes regarding certificates of insurance and warns producers and companies that violations can result in significant penalties. “The issue of amending or altering certificates of insurance that …
The city of Los Angeles spent millions of dollars settling lawsuits that could have been avoided if effective risk management programs had been in place, according to an audit. City Controller Laura Chick said the city spent $35 million on …
Proformance Insurance, an operating subsidiary of National Atlantic Holdings Corp. based in Freehold, N.J., appointed Thomas Glowacki as Vice President of Claims. Glowski is said to have 30 years of experience within the industry, having handled claims in all insurance …