A Portland, Ore., audit is recommending the city move firefighters and police officers currently covered by the City of Portland Fire and Police Disability and Retirement (FDPR) system into the city’s workers’ compensation program. Doing so would help to reduce …
A new study says a big Southern California earthquake would rattle the region’s economy as well as its buildings. The U.S. Bureau of Labor Statistics said a magnitude-7.8 quake in the southern segment of the San Andreas Fault would affect …
Of the many possible disasters that could befall Californians, Golden State residents fear earthquakes the most, according to a recent poll. Statewide, 57 percent of voters cite earthquakes as their greatest threat from nature, more than twice the proportion saying …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Stonebridge Casualty Insurance Company, the Columbus Ohio-based property/casualty subsidiary of The Netherlands AEGON N.V., both with stable outlooks. The ratings reflect …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of Cayman Islands-based Ironshore Inc., as well as the financial strength rating of ‘A-‘ (Excellent) and the ICRs of “a-“of Ironshore’s operating subsidiaries. These include Bermuda-based Ironshore Insurance …
A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to International General Insurance Company (UK) Limited (IGIUK), both with stable outlooks. The ratings reflect “prospective strong …
XL Insurance has named Roxanne Mitchell as president of its Excess and Surplus lines unit, reporting to Seraina Maag, chief executive, North America Property & Casualty. Mitchell will be based in XL’s Chicago office. Mitchell joins XL Insurance from Lexington …
Standard & Poor’s Ratings Services said that the ratings on the U.K.-based Aviva Group (core operating entities rated AA-/Stable) are unchanged by its agreed sale of breakdown recovery firm RAC to The Carlyle Group for £1 billion [$1.597 billion] S&P …
A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of the Bermuda-based Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited. Best has also …
A bulletin from the Insurance Information Institute notes that a recent Casualty Actuarial Society seminar advises actuaries that when it comes to pricing global reinsurance business, it’s important to remember that “all risks are local.” Athula Alwis, associate vice president …
