News

When rating property and casualty insurance and reinsurance companies globally, stress-testing is applied to evaluate the resiliency of (re)insurers' credit profiles, Moody's Investors Service said in a report.

American International Group said it has reached another milestone in its efforts to become independent of federal financial support, repaying the Federal Reserve Bank of New York almost $4 billion.

Florida Insurance Commissioner Kevin McCarty would like to begin surveying the state's insurance companies to get a grasp of one of the largest non-catastrophe cost drivers in Florida: sinkhole claims.

Plaintiffs' lawyers criticized the Gulf oil spill claims facility, stating that the rules for emergency payments through the facility limit the future liability of companies deemed responsible for the disaster.

Eric Dinallo, former New York insurance superintendent, got a big boost in his race for attorney general with a major endorsement, but his election is anything but certain despite strong credentials, says NU Editor Sam Friedman at www.NUSamSoapBox.com.

Privatizing workers' compensation insurance in Ohio would give more choices to consumers and open up a new market for insurers, the Insurance Information Institute's (I.I.I.) president told state officials.

Liberty Mutual Group, through its wholly owned subsidiary Liberty Insurance Company Limited (LICL), said it has been granted approval to begin branch operations in Zhejiang by the China Insurance Regulatory Commission (CIRC).

As we enter the middle portion of the 2010 hurricane season, we find ourselves faced with another issue to add to the post-oil spill mix: Will there be enough adjusters to handle a large catastrophic event when, and if, the need arises?