The New York City operations of the reinsurer St. Paul Re — based at 195 Broadway, one block from the World Trade Center, and evacuated in the events of Sept. 11 — are continuing from the company’s Morristown, N. J. …
The insurance industry will do everything it can to comply with the New York Insurance Department’s advice to insurance adjusters and underwriters to exercise care and “responsible judgment” in judging claims arising from last week’s World Trade Center tragedy. “While …
Chicago-based Aon Corp., the world’s No. 2 insurance broker with about 1,100 staff in the World Trade Center, said on Friday that 200 employees remained unaccounted for after the Sept. 11 attack that destroyed the twin towers. “It grieves me …
Fairfield, Ohio-based Ohio Casualty Corporation Friday announced a preliminary estimate of its expected losses resulting from the New York terrorist attack Sept.11. The estimated pre-tax cost of claims is $5 to $7 million, net of reinsurance. The member companies of …
Kansas Insurance Commissioner and National Association of Insurance Commissioners (NAIC) President Kathleen Sebelius discussed the effects of last week’s tragedies on the East Coast and how they could impact the Kansas insurance market. Preliminary loss estimates from the insurance industry …
In another challenge to its acquisition plans, minority shareholders in Hyundai Securities filed suit in a South Korean court on Monday in an effort to block the sale of 35 percent of the company and two financial investment trusts to …
Australia’s QBE has acknowledged that it stands to be hit hard by disaster losses in the U.S. after last Tuesday’s terrorist attacks. As yet it’s released no figures, but has said that the losses would be substantially larger than it …
Lloyd’s announced that it had completed a preliminary assessment of the possible losses from last Tuesday’s terrorist attacks in the U.S., and although it gave no specific figures, it stated that “these exposures can be managed within its unique system …
International reinsurer Transatlantic Holdings, Inc. announced that it expected losses from last Tuesday’s attacks to reach approximately $100 million, based on the preliminary data available. The company offered its deepest sympathy to all those who are suffering as a result …
The New York State Insurance Department (NYSID) announced that it is coordinating the crisis management of the insurance industry resulting from last Tuesday’s terrorist attack against the World Trade Center, and has requested that all leading insurers have representatives permanently …
