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Due to the earthquake and tsunami in Japan, Munich Re says it will not reach its profit target for 2011 after reporting an expected loss of more $2 billion from the event.
Vermont is proposing changes to its captive insurance law as part of its annual enhancements to its captive statute, according to the Dept. of Banking, Insurance, Securities and Health Care Administration.
Vermont is proposing changes to its captive insurance law as part of its annual enhancements to its captive statute, according to the Dept. of Banking, Insurance, Securities and Health Care Administration.
Kentucky, New Mexico and Ohio have become the first states to enact comprehensive legislation implementing the surplus lines and reinsurance reform and modernization law.
The disaster following the tsunami that hit the Fukushima Daiichi nuclear power plant in Japan should not create a reduction in insurance capacity for such plants, but it is too early to know if the incident will result in increased pricing, according to JLT Global Nuclear Practice Group.
Another chapter has closed on the contingent commission kickback saga with an agreement reached between nine insurers and insurance brokers and clients who alleged the industry tried to manipulate the business.
Another chapter has closed on the contingent commission kickback saga with an agreement reached between nine insurers and insurance brokers and clients who alleged the industry tried to manipulate the business.
U.S. Senators Barbara Boxer and Dianne Feinstein have introduced a bill that would authorize the U.S. Department of the Treasury to guarantee up to $5 billion in bonds available to certified public entities like the California Earthquake Authority following a “mega-catastrophe.”
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