-
The probe determined that Syed Baghdadi and Gator falsified information and misappropriated premiums, leaving multiple customers uncovered. -
Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.
-
The move follows a “considerable decline in the group’s key balance sheet strength metrics” through the end of September, the ratings agency said in a statement Friday.
-
The government funding bill signed by Biden on November 16 contains provisions extending National Flood Insurance Program to February 2, 2024.
-
Missouri-based Cameron Mutual and Arkansas-based United Home Insurance Company were placed into court-ordered liquidation this week after struggling to pay claims from severe convective storms.
-
The bill would spur development of a crop insurance policy to cover losses caused by cold exposure and freezes.
-
The move reflects years of weak profitability caused by high cost inflation and cat losses.
-
Insurers have paid out $673.3mn in claims through September 30 for residential losses related to the August fires.
-
Susan Arnold, co-vice chair of NAIC’s P&C Insurance Committee, also urged passage of legislation exempting mitigation grants from taxation.
-
The Z-Fire modeling tool factors wildfire mitigation efforts into the rate-setting process, potentially lowering insurance premiums.
-
Marsh cites its primary listing on the NYSE, along with the costs and administrative burdens of listing on LSE, as reasons for delisting.
-
The most important factors driving insured losses over the years include hurricanes, other weather-related events, inflation, and excess litigation.
