Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Minn. groups sue AIG for $100 million in damages for fraud, violations
Aug 6 2007 // The Minnesota Workers’ Compensation Reinsurance Association (WCRA) and the Minnesota Workers’ Compen-sation Insurers Association (MWCIA) filed suit on July 17, 2007, against American International Group Inc....
House panel votes to add wind to flood program
Aug 6 2007 // Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted late last month to add wind...
News Currents
Aug 6 2007 // Minn. groups sue AIG for $100 million in damages for fraud, violations The Minnesota Workers’ Compensation Reinsurance Association (WCRA) and the Minnesota Workers’ Compensation Insurers Association (MWCIA)...
Putting Florida’s rate filing and reinsurance controversy in context
Aug 6 2007 // Currently underway in Florida is a controversy over the amount of private reinsurance homeowners insurers should purchase in addition to the now expanded $28 billion in reinsurance available from the Florida Hurricane...
News Currents
Aug 6 2007 // Minn. groups sue AIG for $100 million in damages for fraud, violations The Minnesota Workers’ Compensation Reinsurance Association (WCRA) and the Minnesota Workers’ Compen-sation Insurers Association (MWCIA)...
News Currents
Aug 6 2007 // House panel votes to add wind to flood program Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services...
Fla. Gov.Suggests Property Insurers not Following Rate Savings Law
Aug 2 2007 // Gov. Charlie Crist suggested Tuesday that some property insurers may be deliberately flouting a new state law that requires them to buy cheaper reinsurance and pass the savings on to consumers. Crist said he was concerned...
Endurance Names Guenther Chief Re Underwriting Officer for London
Aug 2 2007 // Endurance Specialty Holdings Ltd. announced that Hans-Joachim Guenther would join Endurance Worldwide Insurance Limited in London as Chief Underwriting Officer for Reinsurance and Head of Reinsurance for Europe. He has 19...
RenRe Reports $193.7 Million Q2 Net
Aug 2 2007 // Bermuda-based RenaissanceRe Holdings Ltd. posted $193.741 million after tax income for the second quarter of 2007. Net income available to common shareholders was $183.166 million or $2.53 per diluted common share in the...
House Committee Advances Bill to Extend Terrorism Reinsurance Backstop for 15 Years
Aug 2 2007 // The House Financial Services Committee voted yesterday to extend and expand the federal terrorism reinsurance law, going against the wishes of the Bush Administration. The panel voted by 49 to 20 in favor of H.R. 2761, the...
Reinsurance Broker BMS Adds Hernandez to Marine Team in Conn.
Jul 27 2007 // BMS, a reinsurance intermediary, has appointed Frank Hernandez as senior vice president for its Marine & Energy team. He will be based in Shelton, Conn. Hernandez was previously at Towers Perrin as head of its Global...
Insurers Balk as House Panel Votes to Add Wind Coverage to Flood Program
Jul 27 2007 // Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted yesterday to add wind coverage...
State Rejects Fla. Farm Bureau Home Insurance Rate Increase
Jul 23 2007 // The state will deny a planned home insurance rate increase by Florida Farm Bureau’s two property insurance companies, which have about 140,000 homeowners policies, the Office for Insurance Regulation said. Florida...
Insurers Want to Know: Does Enterprise Risk Management Add Value?
Jul 23 2007 // Enterprise risk management will have to meet the expectations of corporate board members and deliver real value to firms if it is to flourish, attendees of the Casualty Actuarial Society meeting in Florida heard. Bill...
San Antonio’s SWBC Launches Reinsurance Company in Bermuda
Jul 23 2007 // San Antonio-based Southwest Business Corporation (SWBC) has formed a Bermuda reinsurance company, SWBC RE Ltd., the company announced. SWBC said the impetus for creating the reinsurance company stems from SWBC’s...
The Nonadmitted and Reinsurance Reform Act
Jul 23 2007 // The right policy at the right time … After decades of frustration and brutal disappointment, the vexing and seemingly intractable tax payment and regulatory compliance problems surplus lines brokers face on...
THE NONADMITTED INSURANCE AND REINSURANCE REFORM ACT OF 2007 (HR 1065)
Jul 23 2007 // The bill would establish national standards for how states regulate the surplus lines market and reinsurance. HR 1065 creates: a uniform system of premium tax allocation and remittance for surplus lines premium...
The Nonadmitted and Reinsurance Reform Act
Jul 23 2007 // After decades of frustration and brutal disappointment, the vexing and seemingly intractable tax payment and regulatory compliance problems surplus lines brokers face on multi-state risks are about to be solved. The long...
News Currents
Jul 23 2007 // Texas approves $1 billion in reinsurance for windstorm pool The Texas Windstorm Insurance Association (TWIA) in early June submitted a proposal to the Texas Department of Insurance for the purchase of $1.5 billion in...
The Nonadmitted and Reinsurance Reform Act
Jul 23 2007 // After decades of frustration and brutal disappointment, the vexing and seemingly intractable tax payment and regulatory compliance problems surplus lines brokers face on multi-state risks are about to be solved. The...
