Hiscox – Business Insurance Coverage

Best upgrades Hiscox issuer credit rating

CNA, Hartford, Hiscox, Philadelphia Insurance Company, Travelers Insurance Company, Zurich Insurance Company
December 13, 2012

A.M. Best Europe-Rating Services Ltd. has upgraded its issuer credit rating to a+ from a for several units of Hiscox. Citing the financial strength of the parent company, the insurance ratings firm upgraded the ratings of Bermuda-based Hiscox Insurance Co. (Bermuda) Ltd., U.K.-based Hiscox Insurance Co. Ltd. and Guernsey-based Hiscox Insurance Co. (Guernsey) Ltd. Moreover, AMBest credited Hiscox’s consolidated risk-adjusted capitalization and underwriting performance, noting that the group has an average five-year combined ratio of approximately 90%. The ratings firms also singled out Hiscox’s strength in the Lloyd’s of London market. What that means for you? It means that you… Read More »Best upgrades Hiscox issuer credit rating

“Super Losses” of Healthcare Sector

Claims, Coverage, D&O, Directors and Officers, Hiscox, Insurance claim or case example, Insurance Companies, Law, Medical Health Insurance, Professional Liability / E&O
March 13, 2012

The overall cost and frequency of so called $50 million plus “super losses” in the U.S. healthcare insurance sector are on the rise. According to a report from specialist healthcare insurer Hiscox, the large losses keep on getting larger with juries in the last two years alone awarding more than $1 billion in total damages for just seven medical liability cases. The rise in large claims is happening despite the clear benefits of the implementation of quality and patient safety measures, Hiscox said. Record awards are being made in cases ranging from inadequate staffing at nursing homes to medical negligence… Read More »“Super Losses” of Healthcare Sector