Tim Richison, chief financial officer of the California Earthquake Authority since 1997, was named CFO of the Year by the Sacramento Business Journal at ceremonies held today. Judges cited Richison’s achievements as part of the original team at CEA — an entity that opened its doors in 1996 and has since become an international model [...]
In light of current economic conditions, a major catastrophe such as an earthquake in California would bring new misery to both US and international financiers, according to an analysis released today by Impact Forecasting LLC, a division of Aon Benfield, the world’s premier reinsurance intermediary and capital advisor.
The Annual Global Climate and Catastrophe Report: 2008 [...]
Risk Management Solutions (RMS), the world’s leading catastrophe risk expert, has announced the results of a study analyzing the impact of a major earthquake on the Hayward Fault. The study marks the anniversary of the 1868 Hayward Earthquake — which ruptured the southern section of the fault 140 years ago this month — and was [...]
ICW Group Insurance Companies, which partners with 3,800 agents and brokers across the United States, is now offering workers’ compensation insurance in the state of Illinois.
The super-regional carrier’s industry-leading claims services and forward-thinking risk management has helped thousands of companies create a safe and productive work environment, while lowering the costs associated with workers’ compensation [...]
Chartwell Independent Insurance Brokers LLC, a leading wholesale and specialty insurance broker focusing on high-risk, hard-to-place coverage, announced the launch of its Commercial Storage Insurance (CSI) Program. This program offers specialty insurance coverage for warehouse and storage facilities, including self storage, mobile storage, boat and recreational vehicle (RV) storage, cold storage, and cargo. Working exclusively [...]
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, today published 2008 Catastrophe Update, a briefing about the catastrophe reinsurance marketplace in 2008. The briefing, available on www.GCCapitalIdeas.com, Guy Carpenter’s new intellectual capital website, states that the high frequency and severity of Atlantic hurricanes in 2008, coupled with other weather-related and man-made [...]
A.M. Best Co. has assigned a financial strength rating of B+ (Good) and an issuer credit rating of “bbb-” to Century Insurance Company of Guam (CIC Guam). The outlook for both ratings is stable.
The ratings reflect CIC Guam’s adequate capitalization, sound underwriting result and stable investment income. The ratings also recognize the continual operational support [...]
Fuji Fire & Marine Co., Ltd. (“Fuji Fire & Marine”) ISIN:JP3808000008), one of Japan’s leading insurance companies, announced that total net premiums written (NPW) declined by a small margin during the interim period due to revisions in the compulsory automobile insurance system (See Chart 1). Importantly general accounts, which exclude compulsory automobile liability (CALI) and [...]
A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Rockhill Insurance Group (Rockhill) and its four pool members led by Rockhill Insurance Company (RIC) (Arizona). The outlook for these ratings is stable. (See below for a detailed listing of the companies and ratings.)
The [...]
White Mountains Insurance Group, reported an adjusted book value per share of $405 at September 30, 2008, a decrease of 9% for the quarter and 6% for the past twelve months, including dividends.
Ray Barrette, Chairman and CEO, commented, “As I stated in our October 13, 2008 pre-announcement, this was a difficult quarter. Our investment [...]
