Latest Italy Headlines
All the headlines from our Italy Topic Page, ordered by recency.
Lawyers Jump Into Cruise Ship Disaster Cases
Jan 30 2012 // Soon after Mitchell Proner, a New York personal-injury lawyer, heard about the capsizing of the Costa Concordia off the coast of Italy, he sprang into action. Proner, who specializes in motorcycle-accident lawsuits, has...
Costa Cruises Offers Settlements to Passengers
Jan 27 2012 // Costa Cruises has offered to pay 11,000 euros ($14,500) in compensation to each of the more than 3,000 passengers aboard the ship that capsized near the island of Giglio two weeks ago, Italian consumer groups said on...
Ship Disaster Unlikely to Prompt Quick Safety Changes
Jan 19 2012 // The cruise ship disaster off Italy’s coast is drawing fresh scrutiny to the gaps in international safety rules and standards – yet there may be little appetite among the world’s major shipping nations and...
New Yorkers Recovering From Italy Ship Ordeal
Jan 18 2012 // Four New Yorkers are safe following their evacuation from the cruise ship that ran aground in Italy. Joan, Brian and Alana Aho of Duanesburg, N.Y., made it off the ship during last Friday’s emergency. But they told a...
Report Says Mafia Now ‘Italy’s No.1 Bank’ as Economic Crisis Bites
Jan 11 2012 // Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest “bank” and squeezing the life out of thousands of small firms, according to...
AXA, Japan Post Top Best’s List of World’s Largest Insurers
Jan 4 2012 // France’s AXA S.A. has again topped the list of the world’s 25 largest insurance companies, based on premiums written, compiled by A.M. Best. The lists, which were compiled both on asset value and on net...
Ratings Roundup: Heritage, Euler Hermes (US)
Dec 22 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Calif.-based Heritage Indemnity Company, both with stable outlooks. The ratings of...
Best’s Rating Actions Spurred by EU Failure to Produce Debt Crisis Solution
Dec 21 2011 // Although the recent summit of the 27 countries of the European Union did manage to come up with a plan to control budget deficits – in the future – it “took no clear short term actions to address the debt...
Best Affirms FSR’s; Downgrades ICR’s of Allianz U.S. Units; Ratings on Review/Negative
Dec 20 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and downgraded the issuer credit ratings (ICR) to “aa-” from “aa” of Allianz Global Corporate & Specialty...
Best Puts Fireman’s Fund Companies on Review/Negative; Affirms Ratings
Dec 20 2011 // A.M. Best Co. has placed under review with negative implications and has also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of...
Best Affirms Aviva’s Ratings; Places them on Review/Negative
Dec 16 2011 // Following its announcements, made earlier this week, A.M. Best Europe – Rating Services Limited is continuing to take rating actions on a number of European (re)insurers, as a result of the continued negative...
Best Downgrades Generali, Main Subs Ratings; Keeps on Review/Negative
Dec 15 2011 // As a result of the continued negative developments regarding the euro zone sovereign debt crisis, A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘A’...
Best Downgrades Allianz and Subs Issuer Credit Ratings; Affirms FSR
Dec 15 2011 // A.M. Best Europe – Rating Services Limited has reacted to the ongoing sovereign debt crisis in the euro zone, which it describes as “continued negative developments” with a number of rating actions, starting...
Europe’s Austerity Zeal Risks Killing the Patient
Dec 14 2011 // Europe’s “no pain no gain” attitude to solving its sovereign crisis risks exacerbating the bloc’s problems, choking off the very growth needed to raise the money to pay down the debt. From Athens to...
Willis Group Acquires Italian Broker
Dec 12 2011 // Willis Italy, a unit of Willis Group Holdings, announced the acquisition of Broking Italia SRL, a long-established specialist in the Italian insurance market, founded and currently headed by Gianfranco Agostini and Daniela...
S&P Puts Allianz, Aviva, AXA, Generali, Mapfre Units, 10 Other EU Insurers on CreditWatch/Negative
Dec 12 2011 // Standard & Poor’s Ratings announced that it has placed its ratings on the following insurers (and certain related operating subsidiaries and certain holding companies) on CreditWatch with negative...
Best Places Generali, Main Subsidiaries’ Ratings under Review/Negative
Nov 21 2011 // A.M. Best Europe – Rating Services Limited has taken action in the wake if the Italian financial crisis by placing the financial strength rating of ‘A+’ (Superior) and issuer credit rating of...
AmTrust Europe to Open Branch in Italy
Nov 18 2011 // UK-based insurer AmTrust Europe, Ltd., a FSA [Financial Services Authority] authorized insurance company, which already has had operations in Italy “under freedom of services (LPS) for a number of years,”...
Italy, Southeast France Hit by Heavy Rains, Floods: AIR Analysis
Nov 15 2011 // Catastrophe modeling firm AIR Worldwide has issued a report on the heavy rains, which caused widespread flooding in France and Italy during the first week of November. The storms were caused by a “low pressure system...
Floods Hit France, Italy; UK Motorway Crash Leaves 7 Dead, 51 Injured
Nov 7 2011 // Continuing heavy rains have caused serious flooding in southern France and throughout Italy, with little letup in sight. In western England an horrendous crash on the M25 motorway in Somerset, involving 34 cars and trucks,...
