South Carolina’s small businesses, Professional Employer Organizations (PEOs), and independent insurance agents received news in the form of increased business insurance capacity. Newport Star Reinsurance Company and Accident Insurance Company (AIC) were recently approved by the South Carolina Department of …
Minneapolis-based RTW, Inc. a provider of products and services to cost-effectively manage both insured and self-insured workers’ compensation programs, reported net income for the fourth quarter ended Dec. 31, 2002 of $8.1 million, or $1.57 per basic and diluted share, …
Philadelphia Insurance Companies (PIC) announced the release of its new product offering, “the Business Owners Policy (‘BOP’)” for business professionals. “BOP provides comprehensive property & liability coverage and is being offered in conjunction with professional liability offered to all types …
International insurance brokerage and consulting company Summit Global Partners has formed a new group specializing in complex marine risks. The Marine Practice Group, which will be located in San Francisco, will service the insurance and risk management needs of virtually …
The number of insolvencies among property/casualty insurance companies remained high in 2002, with 38 companies placed either under regulatory supervision or into liquidation, according to the special report, “Rising Number of P/C Company Impairments Continues Trend,” issued this week by …
Doyle E. Champlain, 45, of Orangevale, Calif., was arrested without incident and booked into the Placer County Jail on five felony counts of insurance fraud and one felony count of attempted perjury. If convicted, Champlain could face up to five …
A bill introduced in the California Senate is the latest in a series of reported attempts by the trial bar to restrict the use of confidentiality and settlement agreements in certain legal actions. The Alliance of American Insurers (AAI) is …
The State Corporation Commission (SCC) has approved revisions to the premium levels charged for workers’ compensation insurance in Virginia. Almost all Virginia employers are required to carry the coverage. The National Council on Compensation Insurance (NCCI) sought the revisions. The …
Standard & Poor’s has removed its ‘BBB+’ counterparty credit and financial strength ratings on Employee Benefits Insurance Co., Design Professional Insurance Co., and EBI Indemnity Co., which are affiliates of Royal Indemnity Co. (BBB+/Developing /–). “These ratings are being removed …
Chicago-based CNA Financial Corporation noted that as of Dec. 31, 2002, its property and casualty insurance subsidiaries have approximately $600 million of reinsurance receivables due from Gerling-Konzern Allgemeine Versicherungs AG and its property and casualty insurance subsidiaries (collectively, the Gerling …