Louisiana agriculture, forestry and fisheries suffered an estimated $950 million in losses and damages in this month’s hurricanes, according to the Louisiana State University AgCenter. And the figure, officials say, is expected to rise. Of the $950 million, up to …
The Texas Department of Insurance (TDI) has issued a statement and answers to some frequently asked questions regarding AIG insurance companies in Texas. “AIG’s Texas insurance companies are currently financially sound and able to pay claims,” stated Texas Insurance Commissioner …
The Texas Department of Insurance Division of Workers’ Compensation announced that the workers’ compensation state average weekly wage for Fiscal Year 2009 is set at $750 and is effective for dates of injury from Oct. 1, 2008, through Sept. 30, …
The New York Young Insurance Professionals, an affiliate of the Professional Insurance Agents of New York trade group, elected new officers at its annual business meeting earlier this month. Those new officers are: — President Amy Bryan, owner of Bryan …
In addition to working overtime on the Wall Street bailout over the weekend, the Senate also approved legislation to extend the National Flood Insurance Program until March 6, 2009. The measure was passed earlier last week by the House of …
Philadelphia Insurance Companies sponsored the 2008 Parkway Run/Walk benefiting The Cancer Center at The Children’s Hospital of Philadelphia on Sunday, Sept. 28. Despite rain, more than 1,500 runners and walkers including 50 Philadelphia Insurance Co. employees and their family members …
Catastrophe risk modeling firm AIR Worldwide estimates that insured losses to onshore properties in China from both wind and precipitation-induced flooding from Typhoon Hagupit will be between $100 million and $250 million. AIR added: “The high winds and flooding caused …
Bermuda-based AXIS Capital Holdings Limited announced that preliminary net loss estimates for Hurricanes Gustav and Ike range from approximately $310 million to $430 million, net of reinstatement premiums. Axis’ preliminary net loss estimate, net of reinstatement premiums, for Gustav ranges …
Marsh announced that three new executives – Steve Powney, Steven Lewis and Tricia Burgess – have all joined its International Surety Practice from Aon’s Surety and Guarantee team. Powney will lead the International Surety Practice for Marsh in Europe, the …
Fortis, the Belgian-Dutch banking and insurance giant, faced a takeover or break-up as European Central Bank President Jean-Claude Trichet held emergency talks with Dutch and Belgian lawmakers to restore faith in the Belgian-Dutch financial group. Trichet, who as ECB [European …
