The PIA Western Alliance will be holding its second Moisture Management Summit in Irvine, Calif., with the goal of writing a public policy based on moisture management standards that have already been developed. The PIA’s goal is to take that …
Accident victims can now get immediate free consultation and service through Metro Detroit, Mich.’s first walk-in Auto Accident Claim Center (AACC), the center reported. The AACC will help consumers who are involved in any kind of vehicular and/or pedestrian accident …
“Many private companies are planning activities that may increase their exposure to management liability risks,” said Lisa McGee, vice president, Chubb & Son, during the Inc. 500 Conference. According to the 2005 Chubb Private Company Risk Survey, 67 percent of …
The American Academy of Actuaries disclosed that a future large terrorist attack in New York City could result in $778 billion in insured losses. Speaking at the National Association of Insurance Commissioners public hearing on “Terrorism Insurance Matters,” Michael McCarter, …
A Pennsylvania federal court has upheld a $7.9 million award against an insurer for its bad faith in failing to offer plaintiffs the full limits of the policy and for assigning one lawyer to represent two of its insureds in …
An article published in Standard & Poor’s Ratings Direct stresses that “financial flexibility continues to be an extremely important rating factor.” The publication, entitled “More Frequent Catastrophes Could Undermine Reinsurers’ Access To The Capital Markets,” notes that “financial flexibility is …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Dongbu Insurance Co. Ltd., “reflecting its solid market position, strong capitalization, and good operating performance.” The outlook on the …
Standard & Poor’s Ratings Services announced that it has assigned its “B-” insurer financial strength and counterparty credit rating to New Zealand-based start-up nonlife insurance company Western Pacific Insurance Ltd. (WPIL). The outlook is stable. “WPIL has identified niche markets …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Luxembourg-based Casiopea Re S.A., the reinsurance captive of Spanish communications provider Telefonica S.A. The outlook on …
At least 57 people died when a ship on a pleasure cruise suddenly capsized off of Bahrain last night, March 30. Although the ship, an Arab dhow carrying some 150 passengers and crew, went down in calm waters near the …