Standard & Poor’s commented recently on its CreditWatch placement of ratings on Hartford Financial Services Group Inc. (HFSG), Hartford Accident & Indemnity Co., and related entities following the company’s announcement of expected losses related to the World Trade Center (WTC) …
Zurich North America announced it will not invoke “act of war” exclusions on any policies that present claims related to the Sept. 11, 2001, terrorist attacks in the U.S. “Be assured, our company has a solid capital base and remains …
The National Association of Insurance Commissioners (NAIC) announced on Sept. 20 it will work collaboratively with Rep. Mike Oxley, chair of the House Financial Services Committee, and other members of the Finance committee in support of the insurance industry impacted …
The White House notes that insurance executives did not request at a meeting with President George Bush last Friday that public funds be used to pay for claims resulting from future terrorist attacks, according to spokesman Ari Fleischer. According to …
In a recent White House meeting, Independent Insurance Agents of America (IIAA) CEO Robert A. Rusbuldt and other industry leaders reassured President Bush that insurance agents and companies are well-positioned to handle and pay claims stemming from the Sept. 11 …
Ohio Department of Insurance Director Lee Covington issued a reminder Sept. 20 to current property and casualty license holders that beginning Oct. 9, they will no longer be authorized to solicit or sell surety bail bonds issued by an insurance …
Cincinnati-based Midland Co. said fire and liability insurance losses from manufactured housing parks and dealerships would cut third-quarter earnings. Midland said its American Modern Insurance Group subsidiary, a leader in the manufactured housing insurance market, had recently seen a deterioration …
Triad Guaranty Inc. announced that its subsidiary, Triad Guaranty Insurance Corporation, has opened a Cleveland, Ohio underwriting office. The new office will serve customers in Ohio, Indiana and Michigan. It is Triad’s 11th underwriting office. A significant growth in business …
Bermuda’s ACE Ltd. increased its estimates of anticipated losses from the terrorist attacks in the U.S. from $400 million to $550 million, citing additional reinsurance claims as the principal factor. The company’s estimates on its primary loss coverage remains unchanged …
The Anglo-Swiss group Zurich Financial Services (ZFS) and Germany’s Deutsche Bank (DB) announced agreement on a number of cooperation initiatives and the sale of business assets, most notably the transfer of fund manager Zurich Scudder Investments to DB for $2.5 …
