Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
W.R. Berkley Names Tom N. Kellogg to Head Reinsurance Units
Feb 7 2002 // W. R. Berkley Corporation of Greenwich, Conn. has named Tom N. Kellogg as the chairman of its subsidiary, Signet Star Holdings, Inc., the parent company of Berkley Insurance Company, the group’s lead reinsurance...
NAII Urges Terrorism Exclusions for Personal, Commercial Lines
Jan 30 2002 // The National Association of Independent Insurers (NAII) is urging state insurance regulators to consider personal lines exclusions on a case-by-case basis for insurers that demonstrate the potential for solvency problems...
13th Annual NILS to focus on effects of Sept. 11
Jan 29 2002 // The upcoming 13th annual National Insurance Leadership Symposium (NILS) will focus on the effects of the Sept. 11 attacks on the insurance industry and the actions taken to recover. The symposium, which will be held on...
S&P Affirms Trans Re Zurich ‘AA’ Ratings
Jan 25 2002 // Standard & Poor’s has affirmed its long-term double-‘A’ counterparty credit and insurer financial strength ratings on Switzerland-based reinsurance company Trans Re Zurich (TRZ) with a stable...
Workers’ Compensation A Thorn in Side of U.S. Companies
Jan 24 2002 // Workers’ compensation, one of the insurance lines most acutely affected by the terrorism of 2001 and by the continued absence of government backstop insurance for terrorism events, is fast becoming a high-priced...
NAMIC REpresentative Warns of ‘Stultifying’ Economic Consequences of Reinsurance Shortage
Jan 21 2002 // Warren Heck, chairman and CEO of the Greater New York Mutual Insurance Company will explain to the NAIC’s Reinsurance Task Force the more general economic problems that accompany the post-9/11 reinsurance...
Regulators Should be Deliberate, Flexible When Considering Personal Lines Terrorism Exclusions
Jan 18 2002 // The National Association of Independent Insurers (NAII) has urged insurance regulators to “move with deliberation…on terrorism exclusions for personal lines” and to remain flexible when considering such...
P/C Trends Gain Momentum after U.S. Attacks
Jan 16 2002 // According to A.M. Best Co., the unprecedented events of Sept. 11 have forever changed the way the insurance industry defines risk as both property and liability lines have been exposed to catastrophic risks that cannot be...
Report Reinsurance Rate Rise Reduced
Jan 14 2002 // A recent survey by Reuters News Service indicates that the expected strong surge in reinsurance premiums for property catastrophe coverage may be a good deal less than originally anticipated. Although the market remains...
Senate Fails to Act on Federal Terrorism Reinsurance
Jan 14 2002 // During the first weeks of December, covering the story of whether or not Congress would pass a federal terrorism reinsurance bill before the year 2001 was out was pretty much a waiting game. At the time, most insurance...
Senate Fails to Act on Federal Terrorism Reinsurance Bill
Jan 14 2002 // During the first weeks of December, covering the story of whether or not Congress would pass a federal terrorism reinsurance bill before the end of 2001 was pretty much a waiting game. At the time, most insurance industry...
S&P Reports Insurers to Cut Coverage for Losses
Jan 10 2002 // Several commercial insurers will cut coverage for losses caused by acts of terror, allowing 2001 policies to go unrenewed for 2002, Standard & Poor’s reported. It added that the withdrawal from the market will...
Max Re Invests $50 Million in DaVinci Re
Jan 9 2002 // Bermuda’s Max Re Capital Ltd. announced that it has purchased $50 million worth of shares in DaVinci Re Holdings Ltd, and its operating subsidiary DaVinci Reinsurance Ltd. (DaVinci Re), the new Bermuda-based property...
Study Analyzes Potential Impact of Toxic Mold
Jan 9 2002 // As insurance companies encounter a growing number of toxic mold and mildew-related claims, the industry needs to be acutely aware of health risks associated with the problem, as well as coverage considerations, public...
GGRCA Receives $150M Capital Contributions, Streamlines Operations
Jan 8 2002 // Gerling Global Reinsurance Corporation of America (GGRCA) announced the addition of $150 million in capital, through access of its parent company Gerling Global Re. The capital contributions will enable GGRCA to maximize...
Calif. Won’t Adopt Terror Exclusions
Jan 8 2002 // According to a Jan. 7 Los Angeles Times article, California has refused to allow insurers to adopt terrorism exclusion language, a move which has already been by approximately 20 other states in the wake of Sept. 11. The...
WCRA Reducing Reinsurance Rates
Dec 28 2001 // The Workers’ Compensation Reinsurance Association (WCRA) announced it is reducing the reinsurance rates it charges to self-insured Minnesota employers and insurance companies by an average of 12 percent. The rate...
S&P Rates SCOR’s Irish Sub ‘AA-‘
Dec 28 2001 // Standard & Poor’s announced that it has assigned its double-‘A’-minus insurer financial strength and counterparty credit ratings to newly created Dublin-based reinsurer Irish Reinsurance Partners...
RIMS Urges Congress to Readdress Need for Terrorism Reinsurance
Dec 28 2001 // With the Senate not addressing the issue of federal terrorism reinsurance legislation before the end of the year, The Risk and Insurance Management Society Inc. (RIMS) expressed its disappointment. The Jan. 1 renewal date...
PMA Raises $158 Million; S&P Affirms ‘A’ Ratings
Dec 27 2001 // Philadelphia-based PMA Capital Corporation announced that it has successfully completed a public offering of shares of Class A common stock, raising around $158 million in new capital. Standard & Poor’s also...
