Fortress Re, a No. Carolina-based reinsurance company, which collapsed following Sept. 11 related losses, has reportedly been ordered to pay Japan’s Sompo Insurance Co. $1.12 billion. According to a report in the Wall Street Journal, as excerpted by Reuters, an …
Swiss Re CEO John Coomber has officially opened the company’s China branch office in Beijing. The company will offer reinsurance services in both Life & Health and P/C to China’s rapidly growing insurance market. The new branch will be managed …
The majority of Colorado motorists have received savings of 15 – 27 percent following the state’s transition to a tort-based automobile insurance system in July, according to a study conducted by the National Association of Independent Insurers (NAII). NAII, the …
The Oregon Insurance Division has been recognized for its financial regulation program by the National Association of Insurance Commissioners. Oregon was one of 10 states to recently receive an accreditation award from the National Association of Insurance Commissioners (NAIC), a …
International E&S Insurance Brokers Inc. has announced the addition of a new apartment facility market available through their Irvine office. The facility is currently accepting risks in the state of California, Oregon, Arizona and Nevada. The carrier is a non-admitted, …
The California housing market is poised to finish 2003 by setting new records across the board for the second consecutive year, according to a report, “State of the Housing Market 2003,” from the California Association of REALTORS (C.A.R.). “The housing …
According to a report released by the Insurance Services Office Inc. (ISO) and the National Association of Independent Insurers, the U.S. property/casualty industry’s net income after taxes increased to $21.1 billion during the first nine months of 2003, up from …
The Insurance Council of Texas issued a reminder that new insurance legislation affecting the use of credit scores, water damage claims and the regulation of public adjusters is being put into place in Texas in 2004. The ICT noted that …
Arkansas Insurance Commissioner Mike Pickens announced the arrest of Steven Edward Gwin, who has been charged with a class D felony count of Fraudulent Insurance Act. A Jan. 20, 2004 court date has been set in Pulaski County. According to …
Ohio Department of Insurance Director Ann Womer Benjamin announced that OHA Insurance Solutions (OHAIS) Inc. has been licensed to begin selling medical liability coverage statewide to a limited number of physicians starting Jan.1 and to hospitals starting in March. Created …
