Fitch Ratings commented that it does not anticipate that the ratings of Max Re Capital Ltd. and its insurance subsidiaries will be affected by the recent events related to the company’s ongoing internal investigation. Fitch issued the comment following Max …
American International Assurance Company, Limited (AIA), a subsidiary of American International Group, has received approvals from the China Insurance Regulatory Commission (CIRC) to conduct group insurance business throughout AIA’s operations in China. “With the approvals, AIA is authorized to issue …
Aon Risk Services International has opened a new office in Reykjavik, Iceland, which will be its new coordination point for global retail business in the country. Aon said it will “focus on large companies in a number of sectors such …
Brian Dowd, chairman and chief executive officer of ACE USA and chairman of ACE Westchester Specialty, has been appointed to chief executive officer of the company’s Insurance – North American operating division. John Lupica, president and chief operating officer of …
More than 4900 people have now been confirmed dead following the massive earthquake that hit the Indonesia Island of Java on Saturday, May 27, around 6:00 in the morning local time. More than 20,000 have been injured, and an estimated …
A series of violent storms that swept through South Carolina last weekend caused at least $10 million damage, according to the South Carolina Insurance News Service. A survey by the news service, an industry group, shows at least 5,000 insurance …
Provisions in a State Farm Fire & Casualty Co. policy that exclude certain damage from Hurricane Katrina are unenforceable, a federal judge in Gulfport, Miss. has ruled. A couple whose Long Beach home was damaged by the Aug. 29 storm …
The insurance industry is bracing for another active hurricane season if predictions turn into reality. Most insurance companies, including the state-run insurer of last resort, have filed for rate increases as the entire industry must make adjustments to ensure that …
The Property Casualty Insurers Association of America is urging South Carolina legislators to oppose legislation (HB 4622) that would increase insurance premiums for many consumers and put more uninsured motorists on the highways. Currently South Carolina requires drivers to purchase …
The American Insurance Association has warned South Carolina drivers that higher auto insurance premiums could result if the South Carolina Legislature approves a bill raising the minimum required auto insurance limits. A vote is expected as early as next Tuesday. …
