Both Standard & Poor’s Ratings Services and A.M. Best have reacted to the Trenwick Group Ltd.’s announcement that it was in default on its senior notes as of April 1. (See IJ Website April 2). S&P said it had removed …
If it were a sports story, it would be something like the Anaheim Angels winning the World Series last year, so when an insurance company, in this case an insurance market, goes from losing almost $5 billion to making $1.32 …
Burns & Wilcox Ltd. vice president and Dallas/Fort Worth branch manager Don Carson announced the addition of five new staff members to his branch. Sarah Roark joins Burns & Wilcox as receptionist and is responsible for handling agent contracts and …
Gov. Mike Johanns, a Republican, made Nebraska the second state to enact a law that changes the Standard Fire Policy Act related to commercial insurance policies. Virginia was the first state to take such action late last month, and Minnesota’s …
The National Association of Mutual Insurance Companies (NAMIC) submitted comments this week to the Department of Treasury on the first round of interim final regulations of the Terrorism Risk Insurance Act (TRIA). The predominant question surrounding implementation of TRIA for …
Risk Management Solutions (RMS), the world’s leading provider of products and services for the management of natural hazard risks, announced that final values for its regional weather indexes for the winter of 2002-2003 showed it to be extremely cold in …
Legislation to curb over-utilization of chiropractic care without physician oversight will help control the skyrocketing medical costs that are jeopardizing California’s workers’ compensation system, said the American Insurance Association (AIA). SB 354, authored by Senator Jackie Speier (D), would require …
The system that resolves workers’ compensation disputes in California is failing to provide the swift justice required by law and needs to be reformed, according to a study by RAND’s Institute for Civil Justice. The report found that the state’s …
Diane Colborn, vice president of the Personal Insurance Federation of California (PIFC), told the California Senate Insurance Committee recently that SB 64 (Speier), if passed, would have the unintended effect of reducing the availability of homeowners insurance in the state. …
A Merced County, Calif. sheriff’s detective and a deputy under investigation on suspicion of insurance fraud resigned and confessed to being involved in an off-duty felony criminal act, according to the Modesto Bee. Detective Armando Bravo, 27, and deputy David …