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A new report from the Risk and Insurance Management Society (RIMS) said the average total cost of risk per $1,000 of revenue in 2009 fell more than 3 percent due to lower insurance costs and lower risk management administrative costs.
Steven D. Johnson has been named chief executive officer of the Applied Systems Client Network (ASCnet), according to Lisa Parry Becker, chairwoman of the association.
Premium rates in June remained soft, but continued to show some signs of easing off the worst of the declines with decreases in the low single digits, according to MarketScout.
Chubb Corp. said it expects to open a second branch in China in December if all goes well with additional approvals from the China Insurance Regulatory Commission (CIRC) and other authorities.
Claims Magazine is twittering every day about breaking news and timely topics -- not to mention keeping readers up to date on what's being posted on claimsmag.com.
Zurich North America Commercial said it has raised the available capacity for its specialty errors and omissions business from $10 million to $25 million and removed revenue restrictions for primary business.
The number of meteorological catastrophe-driven events is increasing, causing more losses internationally, but insurers have proven themselves financially capable of handling those losses, according to experts.
A report that Florida's catastrophe funds have over $2 trillion in loss exposure will be clarified in the future, according to officials from the state's insurance department.
American International Group Inc. (AIG) is now free to proceed with a lawsuit alleging other insurers conspired to underreport workers' compensation premiums, which the company said skewed the market.
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