Florida Looks to Restructure Its Hurricane Fund; Federal Option Proposed January 18, 2013 Florida lawmakers are poised to consider restructuring the state-run property reinsurance facility by possibly lowering its mandatory annual capacity by...
Ratings Roundup: New India Assurance, South China Insurance January 18, 2013 A.M. Best Asia-Pacific Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of...
German Court Allows Investors to Sue S&P over Lehman Insolvency January 18, 2013 Germany’s Federal Court of Justice has ruled that investors can sue Standard & Poor’s for failing to adequately reflect the...
Floods Paralyze Indonesian Capital Jakarta; at Least 4 Die January 18, 2013 Seasonal rains triggered massive flooding in Indonesia’s capital on Thursday, killing at least four people, triggering the evacuation of at...
Lloyd’s Notes More Use of Specialist M&A Insurance January 18, 2013 Given the reduced amount of merger and acquisition (M&A) activity as a result of the financial crisis, it’s not surprising...
Allianz Estimates Sandy Impact at $670 Million; Won’t Affect Profit Forecast January 18, 2013 Germany’s Allianz SE has announced that its losses from Hurricane Sandy are estimated to total €455 million [approximately $607 million...
Many Hostages in Gas Plant Siege Unaccounted for; New Terrorist Threats January 18, 2013 By Lamine Chikhi At least 22 foreign hostages were unaccounted for on Friday and their al-Qaeda-linked captors threatened to attack other energy installations...
ThinkRisk, Aspen U.S. Partner to Offer Media, Technology, Privacy E&O Program January 18, 2013 Ryan Specialty Group’s (RSG) ThinkRisk Underwriting Agency and Aspen US Insurance have entered into a new underwriting partnership. ThinkRisk will...
A.M. Best Withdraws Ratings of Community Mutual Insurance Co. in N.Y. January 17, 2013 Insurance ratings agency A.M. Best Co. said it has downgraded the financial strength rating to C (Weak) from C+ (Marginal)...
Del. Traffic Deaths Up in 2012; Increase Driven by Crashes Involving Pedestrians January 17, 2013 Delaware’s Office of Highway Safety says there were 116 traffic fatalities in the state in 2012, a 12 percent increase...