After a highly publicized series of events surrounding property insurance coverage for Hood County, LaVera Aiken and Lanny Aiken Insurance Agency Inc. in Granbury, Texas, were completely exonerated of all allegations, which were expunged from court records. According to the …
American International Group, Inc. (AIG) announced that it will incur a net, after tax charge of $1.8 billion in the fourth quarter of 2002 related to an increase of general insurance net loss and loss adjustment reserves. This action follows …
Property-casualty insurer Cincinnati Financial Corp. increased its quartly cash divided 12.4 percent to 25 cents per share and its subsidiaries named new directors, officers and counsel at the company’s Feb. 1 regular meeting. The new $1 per share annual dividend …
Each year before Groundhog Day, the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to come out of their holes, look around for their shadow and forecast the outlook for the industry. Legend has …
Zurich North America Financial Enterprises, a unit of Zurich North America, reported that during 2002 it more than doubled the number of insurance policies it has underwritten to cover e-commerce risks. The doubling of policies written highlights the growing vulnerability …
A.M. Best Co. has affirmed the financial strength rating of A(Excellent) of the West of England Ship Owners Mutual Insurance Association (the Club), Luxembourg. The rating outlook is stable. The rating reflects the Club’s excellent capitalization and financial flexibility, prospectively …
The Alliance of American Insurers (AAI) has urged New York legislators to “resist the temptation” to implement state-specific legislative or regulatory measures involving the federal Terrorism Risk Insurance Act (TRIA) of 2002. The Alliance bulletin noted that it fully supports …
A.M. Best Co. has downgraded the financial strength ratings to C (Weak) of Trenwick Group Ltd.’s (Bermuda) ongoing operating subsidiaries and has withdrawn the financial strength ratings of Trenwick’s operating companies – which are now in runoff – and assigned …
Health Management Online, Inc., (HM) and 4uDoctor of Connecticut announced a business alliance to deliver an innovative solution for workers’ compensation medical billing to orthopedic practices throughout the U.S. HMonline is an Application Service Provider (ASP) that solved the problem …
A Monroe, Louisiana agent was arrested in the latest investigation of alleged insurance fraud across the state, acting Louisiana Insurance Commissioner Robert Wooley has confirmed. Sharon McGraw Burns, A/K/A Ruby M. Burns, 55, residence address was arrested as a part …