I had grand ideas of the wealth and importance of Insurers of Ships in the City, and I began to think with awe, of having laid a young Insurer on his back, blackened his enterprising eye, and cut his responsible head open.
It appeared to me that the eggs from which young Insurers were hatched, were incubated in dust and heat, like the eggs of ostriches, judging from the places to which those incipient giants repaired on a Monday morning.
And, gentlemen, when the timbers of the Vessel of the State are unsound and the Man at the Helm is unskilful, would those great Marine Insurers
, who rank among our world-famed merchant- princes--would they insure her, gentlemen?
The catastrophe bond business is booming this year, as insurers
and reinsurers securitize greater amounts of risk at lower layers.
own about 25% of hybrid securities issued.
However, in today's world, buying insurance/reinsurance coverage from foreign insurance/reinsurance companies is not just the domain of insurers
He called for Congress to reauthorize guarantees scheduled to sunset at the end of this year with the expiration of 2002's Terrorism Risk Insurance Act (TRIA), saying that the guarantees protected insurers
in the event of "an attack on a shopping mall in Utah.
Industry analysts say that period isn't over, with insurers
like Farmers staying afloat by raising premiums to counter sour investments and rising costs.
The Act requires Bermuda-domiciled insurers
to apply to the Registrar of Companies for registration in several categories based on size and type of business.
Procurement tax rates are often higher than premium tax rates, to discourage insure& from securing insurance coverage from unauthorized insurers
have been pressured to improve their portfolio performance, so even though commercial mortgages and their derivatives have high capital requirements, insurers
with healthy balance sheets are drawn to real estate yields of 150 to 250 basis points over Treasuries, depending on asset quality," added Yeskey.
Berrington, general counsel of the American Insurance Association, told me, "The insurer
has an absolute obligation to provide a defense for that policyholder against claims that arise, and the insurer
can be sued when policyholders believe that insurers
are not vigorous enough in providing that defense.