A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Bermuda-based MS Frontier Reinsurance Ltd., both with stable outlooks. MS Frontier is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, …
Swiss Re, as host of its Nordic Risk & Insurance Summit (NORIS™) conference, warned that the “economic environment in the wake of the financial crisis is still very challenging and turbulent.” Swiss Re described the insurance industry as “moving from …
Travelers announced a series of promotions within Travelers Syndicate Management Ltd. (Syndicate 5000), the company’s Lloyd’s operation, “to support long-term development in this important market.” Alan Prestwich, previously head of the Marine team, has been promoted to Senior Business Unit …
Typhoon Nanmadol headed to southeastern China on Monday after dumping more than 20 inches (half a meter) of rain in southern Taiwan, where wide swaths of agricultural land were flooded and some 8,000 people evacuated. The storm skirted Taiwan’s southwestern …
The Miami-based National Hurricane Center is currently tracking Tropical Storm Katia, which formed earlier today out of tropical depression 12. The latest tropical storm of the already busy hurricane season is “moving quickly west-northwestward across the tropical Atlantic,” said the …
Kansas farmers and rural leaders told the U.S. Senate committee drafting the new Farm Bill that the federal crop insurance program is critical to Kansas agriculture. Their testimony came during a field hearing in Wichita by the U.S. Senate Committee …
A former insurance agent in North Dakota on Aug. 24 pled guilty to wire fraud, according to the U.S. Attorney’s Office for North Dakota. U.S. Attorney Timothy Q. Purdon announced that on Alan R. Henning, 58, of Minot, N.D., pled …
Hurricane Irene caused $3 billion to $6 billion in insured losses, catastrophe modeling company AIR Worldwide said Monday, affirming the insurance industry’s suspicion the impact was not as bad as feared. In the days leading up to Irene, some had …
Willis Group Holdings has developed a new insurance product to cover business interruption costs for companies with key locations, suppliers or customers situated in the vicinity of a nuclear power station. The coverage would apply should they be forced to …
In New Orleans’ Lower 9th Ward, the grasses grow taller than people and street after street is scarred by empty decaying houses, the lives that once played out inside their walls hardly imaginable now. St. Claude Avenue, the once moderately …
