Three investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known …
Florida property insurers are preparing for another assessment on premiums to help the Florida Insurance Guaranty Association fund outstanding claims from an insolvent insurer. The 1% emergency assessment on all premium for new and renewing policies, approved this month by …
AM Best has withdrawn its financial strength rating for Capacity Insurance, a commercial insurer with a small footprint in Florida, and the company has decided to withdraw from the Florida market. “Due to a variety of circumstances, the Florida market …
The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners’ policy renewals until state regulators decide if they will approve a surcharge on premiums to help cover more than $168 million in claims left from two …
Corporate board members and company executives have a lot to worry about these says and can be held liable for an increasing range of scenarios. Key risks for directors and officers to watch in 2022 include the increased threat of …
A myth is sneaking into the industry that insurer insolvency is not as important today. Belief in this myth is important to many entities. To put it more simply, a number of companies, agencies, and other firms benefit if less …
A Georgia superior court judge has given regulators approval to liquidate a former automobile insurer. Cynthia Write, judge of the superior court of Fulton County, signed-off on an order in February that will allow regulators to liquidate Georgia Mutual Insurance, …
International insurance think tank, The Geneva Association, has published its latest report for the ongoing financial stability discussions at the G-20, Financial Stability Board and International Association of Insurance Supervisors (IAIS). A full copy of the report is available on …
The majority of the 11 financially impaired property/casualty companies in 2010 got into trouble primarily due to deficient loss reserves and inadequate pricing. None of the 2010 impairments were directly attributable to catastrophe losses, although several had accumulated large underwriting …
