News

Troubled New York-based bond insurer Ambac Financial Group said its Wisconsin subsidiary, Ambac Assurance, will begin paying policy claims out of its segregated account in May.

Moody's Investors Service placed Flagstone Reinsurance Holdings’ ratings under review due to the company’s expected losses from first-quarter catastrophes.

Swiss Re said it expects $1.2 billion in claims from the Japan earthquake and tsunami on March 11, and warned that the estimate is subject to a high degree of uncertainty.

We've got individual company loss estimates coming in on the Japan earthquake and tsunami, including those from AIG and Swiss Re; a Moody's review on Flagstone and accompanying response; a piece on foreign reinsurers and reduced collateral requirements in Florida; and a bid to make earthquake insurance more affordable.

Japan may need five years to rebuild from the catastrophic earthquake and tsunami that has caused up to $235 billion of damage, the World Bank said Monday.

Vantage Agora, a provider of back-office support services and custom IT solutions, announced the launch of a new custom mobile app mAgent (Mobile Agent) as part of its offering to the insurance industry.