Changes on the Playing Field; P&C Insurers Question Impact of New Regulations May 11, 2011 By Charles E. Boyle The European insurance industry is becoming increasingly aware that the Solvency II regulations, which are scheduled to take effect as...
Japan Aims for Tepco Compensation Scheme this Week May 11, 2011 By Kiyoshi Takenaka and Taiga Uranaka Japan’s trade minister said he was aiming for cabinet approval this week of a government-backed scheme to help Tokyo Electric...
Chevron, Ecuadoreans Spar over Halted Damage Award May 11, 2011 By Basil Katz Lawyers for Ecuadorean villagers who sued Chevron Corp over pollution in the Amazon rain forest asked a U.S. appeals panel...
Best Revises Outlook on BP’s Jupiter to Stable; Affirms Ratings May 10, 2011 A.M. Best Europe – Rating Services Limited has revised the outlook to stable from negative and affirmed the financial strength...
Hiscox Issues Interim Management Statement; Sees Future Rate Hikes May 10, 2011 Hiscox Ltd., which operates in the U.S., Bermuda and Europe, as well as the Lloyd’s and UK market, has issued...
MMA UK Names Bradshaw as Commercial Development Manager May 10, 2011 MMA Insurance, the wholly owned UK subsidiary of French multi-national insurer, MMA IARD Assurances Mutuelles, has appointed Derek Bradshaw as...
Best Withdraws Syria’s Arab Union Ratings Due to Libya Sanctions May 10, 2011 A.M. Best Europe – Rating Services Limited has withdrawn the financial strength rating of ‘B’ (Fair) and the issuer credit...
Fu Joins Pioneer Underwriting at BMS Group as Marine Underwriter May 10, 2011 Pioneer Underwriting, BMS Group’s recently launched Lloyd’s MGA, announced that Amy Fu joins the team as a Marine Underwriter. BMS...
Towers Watson: Weak Risk Culture Equals Weak Organization May 10, 2011 A new poll, conducted at a recent Towers Watson Solvency II seminar, concludes that “almost half of insurers do not...
EQECAT Raises Japan Quake/Tsunami Loss Estimates to $22-$39 Billion May 10, 2011 Catastrophe modeling firm EQECAT has updated its market loss estimate of $12-$25 billion, issued on March 16, for the March...