Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB’ long-term counterparty credit and insurer financial strength ratings to Oman-based insurer Oman United Insurance Co. SAOG (OUIC) with a stable outlook. “The ratings on OUIC reflect the company’s …
Allianz Insurance Company of Canada and The Nordic Insurance Company of Canada, both insurance subsidiaries of ING Canada Inc., have announced the completion of their amalgamation under the name of The Nordic Insurance Company of Canada. The companies had announced …
Players for Manchester United, the U.K.’s legendary football (soccer) club, will be sporting AIG logos on their shirts for the next four years. Man United’s chief executive David Gill announced yesterday, April 6, at a press conference at Old Trafford …
With thousands of Floridians reeling from huge property insurance premium spikes as yet another hurricane season approaches, a Senate panel began discussion Wednesday of ways to fix what many say is a broken hurricane insurance market. But with a period …
With the exception of a few notorious hotspots, overall rates for stand-alone terrorism insurance have dropped by 40-50 percent since 2002, according to an update on the market by Aon’s Crisis Management Division. The reductions have been driven by a …
President Bush touted health savings accounts Wednesday morning during a visit to Connecticut, which has some of the highest health insurance costs in the nation. Bush spoke to the Business Council of Fairfield County, which last month issued a report …
The Optional Federal Charter legislation, introduced in the U.S. Senate on Wednesday, does not address the premium tax remittance and licensing concerns of the surplus lines industry, according to the National Association of Professional Surplus Lines Offices, a national trade …
NBIS, the exclusive underwriting manager for ProBuilders Specialty Insurance Company, RRG, has acquired Special Risk Services Group LLC. (SRS), a Chicago based specialty program underwriter. SRS is an experienced insurance service provider in the crane – rigging and heavy haul …
A large insurance company plans to begin canceling coverage for 140,000 Florida homeowners this summer, less than two months after the start of hurricane season. Atlantic Preferred Insurance Co. will begin dropping the policies July 13 as they come up …
Risk Management Solutions has defended its hurricane risk models in the face of consumer groups’ criticisms that the models are more political than they are scientific and that they are designed to justify insurance premium increases. RMS declined to address …
