Insurance news

• Irma toll climbs over $300mn in Georgia

  30-09-2017 02:34
  Insured losses from Hurricane Irma have surpassed $300mn in
  Georgia, according to state insurance commissioner Ralph
  Hudgens.
  "Our preliminary estimate today is $336mn in damage across
  Georgia," Hudgens said yesterday. "That figure may rise
  as new claims are submitted."
  The state has received notice of almost 56,500 claims being
  filed with insurers across the state, mostly against
  homeowners' policies.
  Over $77.467mn has been paid out on claims thus far, the state
  reported.
  Irma spread drenching
  
  Read more

• AM Best puts negative outlook on Tower Hill Prime

  30-09-2017 02:34
  AM Best has gone negative on Florida homeowners carrier Tower
  Hill Prime Insurance Company as it pointed to the impact of weather
  losses, adverse development and the assignment of benefits (AOB) on
  its underwriting performance.
  The ratings agency said it had revised its outlooks from stable
  to negative on the insurer's A- financial strength and a-
  long-term issuer credit ratings.
  With $254mn of annualized written premiums, Tower Hill is the
  11th biggest writer of personal and commercial resident
  
  Read more

• AIG is no longer 'too big to fail' US regulators agree

  30-09-2017 02:34
  American International Group slipped out from under the
  regulatory thumb imposed by the administration of former President
  Barack Obama today after the Financial Stability Oversight Council
  voted to remove the global insurer from the "too big to
  fail" category.
  Late today, the council posted a notice declaring that it had
  voted 6-3 to release New York-based AIG from the systemically
  important financial institution, or SIFI, regulatory regime.
  The council, set up under the 2010 Dodd-Frank law tha
  
  Read more

• AIG freed from ‘too big to fail’ regulation

  30-09-2017 00:55 via ft.com
  Landmark decision removes label put on insurer after 2008 meltdown
  
  Read more

• Advertisement

Follow @Insurance_UKnws on Twitter!