Although the majority of American farms are still owned by individuals or families, the corporate farm has assumed a greater role in the agricultural landscape. Advances in the industrial and manufacturing sectors have greatly affected farming practices. Labor productivity has increased dramatically with highly sophisticated machinery and equipment. More and...
Most property insurance policies expressly exclude coverage for loss caused by mold and fungus. While this exclusion may appear to express a clear intent that mold and fungus losses will not be insured, the coverage determination is often not nearly that simple. Instead, an analysis of what caused the mold,...
Collapse coverage, as provided in standard property insurance forms, underwent significant revision in the 1980s and again in the late 1990s. Two events precipitated the reexamination and ultimately the rewording of policy language. They were the application of the doctrine of concurrent causation to property insurance, and a series of...
PEMBROKE, Bermuda -- AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS) today announced that AXIS Reinsurance Company, one of its U.S. operating subsidiaries, has been authorized by the Office of the Superintendent of Financial Institutions Canada ("OSFI") to operate as a branch insurer underwriting property and casualty insurance and reinsurance...
EXTON, Penn., Sept. 29 /PRNewswire-FirstCall/ -- XL Insurance, XL Capital Ltd's global insurance operations, today announced an agreement with program administrator JGS Insurance to offer stand-alone environmental insurance coverage to members of JGS Insurance's Preferred Property Program, a risk purchasing group of condominium, homeowners and community associations. ...
NEW YORK -- Lexington Insurance Company announced today that effective September 15, 2008 it has arranged a Contingent Property Reinsurance cover from Berkshire Hathaway's National Indemnity Company for Lexington's Real Estate Portfolio, as well as policies having limits of $250 million or greater, policies with home/foreign exposure and the property...
OLDWICK, N.J. -- Full coverage of a presentation by leaders of A.M. Best's property/casualty insurance ratings team is available online in several formats. The Sept. 24 webinar included presentations by Matthew Mosher, Anthony Diodato, Richard Attanasio and Robert DeRose and covered a range of insurance issues. The four...
ST. PAUL, Minn. -- Specialty boat repairers involved in woodworking, deck and hull repair, engine maintenance, canvas and sail repair and many other marine services face the challenge of obtaining affordable insurance that addresses both their marine and non-marine exposures in a seamless fashion. Travelers (NYSE:TRV) announced today several substantial...
Partnership Enhances Madison Benefits' Robust Suite of Service Offerings HOUSTON, Sept. 23 /PRNewswire/ -- Madison Benefits Group, a Houston-based employee benefits brokerage and consulting firm, announced today plans to join forces with Higginbotham & Associates, a leading national insurance brokerage firm. The new partnership expands Madison Benefit's...
WORCESTER, Mass., Sept. 22 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. , a leading super regional property and casualty company, today announced the availability of emergency event management coverage to help protect at-risk organizations -- including educational institutions, hospitality businesses and religious institutions -- against potential threats, violent acts...
OLDWICK, N.J. -- The impact of American International Group Inc.'s AIG financial meltdown will be felt across the property/casualty industry as market share and even ownership of key companies change, according to a story in BestWeek U.S./Canada. The insurance giant, battered by credit losses driven by the subprime-crisis,...
CHICAGO -- (This is a correction to the release of Sept. 15, 2008, and amends the denomination of FM Global's transactions.) Fitch Ratings has assigned the following Insurer Financial Strength IFS rating to FM Global de Mexico, S.A. de C.V. FM Global Mexico: --IFS 'AA'. ...
Given the critical relationship between elevationcertificates and flood insurance rates, according to regulatoryexperts, an alarmingly high percentage of elevation certificates containerrors and omissions. Premier Elevation Certificate Network, Inc. PECN,a national elevation certificate coordinating service, advises insuranceagents and brokers to be keenly aware of the errors that can causeliability...
NOVATO, Calif. -- Recognizing that innkeepers need broad protection and flexible limits, Fireman's Fund Insurance Company is now offering the Innkeepers' Extension Endorsement which combines 32 options in a single package for small inns. These coverages have been bundled together to make it easier for innkeepers to do business and...
SAN FRANCISCO -- DAVID Corporation, the innovative Risk Management Information Systems software provider, today announced that Alberta Municipal Services Corporation AMSC, a wholly owned subsidiary of the Alberta Urban Municipalities Association AUMA, has selected the NavRisk Suite of products as their comprehensive solution to manage their Insurance Services Program. The...
BALA CYNWYD, Pa., Aug. 26 /PRNewswire-FirstCall/ -- Philadelphia Insurance Companies is pleased to offer Volunteer Accident Insurance through its partnership with Life Insurance Company of North America, a CIGNA company. Insurance is provided for a variety of niches including non-profits, social service and mental health organizations, museums, home...
PEORIA, Ill. -- RLI Corp. (NYSE:RLI) - The RLI Corp. board of directors has declared a third quarter cash dividend of $0.25 per share, the same as the previous quarter. The dividend, which is payable on October 15, 2008 to shareholders of record as of September 30, 2008, will take...
ST. PETERSBURG, Fla., Aug. 18 /PRNewswire/ -- Today, ASI Lloyds ASI, an admitted Louisiana insurer, launched an Investor, Rental, and Seasonal Dwelling policy for Louisiana properties in addition to its current Homeowners offering. ASI, who opened for business in Louisiana on April 30, 2008, now has two personal property...
- Medical Offices Endorsement and Lawyers Deluxe Endorsement Help Agents Easily Customize Client Coverage - WORCESTER, Mass., Aug. 18 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. , a leading super regional property and casualty company, today announced the addition of two new broadening endorsements for its AvenuesTM...
EXTON, Penn., Aug. 5 /PRNewswire-FirstCall/ -- XL Insurance, XL Capital Ltd's global insurance operations, today announced the availability of a specialized environmental insurance program that addresses pollution liability and clean-up expenses for US warehouses, storage and distribution facilities. Underwritten by Greenwich Insurance Company and Indian Harbor Insurance...
Articles 2008-08-05
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