News

For eight years United States Fidelity & Guaranty Company (USF&G), now part of Travelers Cos., had been looking to recoup from reinsurers about half of a $987 settlement with an asbestos policyholder.

The WTC Captive Insurance Company announced it would extend the Sept. 8, deadline to opt in to its settlement for two months, until Nov. 8, to give plaintiffs more time to consider whether to accept.

A group that represents North American chief financial officers of insurers and reinsurers said the International Accounting Standards Board (IASB) has proposed

The Atlantic storm Hurricane Danielle, which weakened yesterday to a tropical storm before re-intensifying into a Category 1 hurricane, is not expected to threaten land, according to catastrophe modeler Risk Management Solutions (RMS).

Insurance crime experts are warning that "slip and fall" claims are soaring, and as a result, such claims are coming under greater scrutiny for potential fraud by both insurers and investigators.

Weather Services International (WSI) again lowered its predictions for named storms and hurricanes for the 2010 Atlantic hurricane season, but the forecast is still well above the long-term average.