CFOs are looking for ways to maintain earnings stability and secure a competitive advantage in the uncertain economic market and are finding it in an unlikely place—risk management—according to final results of a survey released by Aon. Companies are discovering …
The Minnesota Department of Commerce issued a bulletin describing new filing criteria for rate, rule and form filings by insurers that exclude loss or damage caused by mold. The department defined mold for purposes of the bulletin as: Any type …
Standard & Poor’s has placed its single-‘A’ counterparty credit and financial strength ratings on the members of property/casualty insurer Kemper Insurance Cos. Intercompany Pool on CreditWatch with negative implications following fourth-quarter developments which contributed to increased risk. Standard & Poor’s …
Bermuda-based Trenwick Group Ltd. announced the appointment of Alan L. Hunte, currently the group’s Chief Accounting Officer, as its new Executive VP and CFO. Hunte will replace Coleman D. Ross, who is departing Trenwick on March 31st in order to …
Goshawk, a leading Lloyd’s syndicate operator, reported a £7.4 million ($10.5 million loss for the year 2001. An earlier profit warning had indicated that the need to strengthen its reserves would have an effect on its earnings. Most of the …
Holland’s ING Group further strengthened its leading position in the Latin American insurance market with the acquisition of a 49 percent stake in Sul America S.A., Brazil’s second largest insurance company. The two companies announced “an agreement to strengthen their …
Pennsylvania isn’t the only Eastern State to experience precipitate increases in the cost of medical malpractice insurance. A report in the New York Times reveals premium increases of between 10 and 40 percent in Connecticut and New Jersey, and at …
Four leading New York agent and broker trade groups have joined forces to combat “rampant fraud” in the state’s no-fault automobile claims procedures. The Professional Insurance Agents of New York, Inc. (PIANY), Independent Insurance Agents Association of New York (IIAANY), …
Utah Gov. Michael Leavitt is being asked to veto House Bill 342, which states insurers must pay a rental car company for the diminished value of a rented vehicle that is damaged. HB 342 is unnecessary and redundant since the …
The Alliance of American Insurers is urging Washington Gov. Gary Locke (D) to sign SB 6409, which the organization believes will help reduce the rising costs of litigation faced by the state’s construction industry. “We see this bill as a …
