Chicago-based CNA Financial Corporation reported net income for the first quarter of 2003 of $83 million, or $0.30 per share, as compared with net income of $20 million, or $0.09 per share, for the same period in 2002. Net operating …
Tornadoes that swept across Arkansas, Kansas, Missouri, Nebraska, South Dakota and Tennessee earlier this week could cost insurers at least $325 million — making it one of the top five costliest tornado events, according to the Insurance Information Institute (III). …
A.M. Best Co. announced that it would not change the A- (excellent) financial strength rating of Gerling-Konzern Allgemeine Versicherungs-AG (GKA) and its core subsidiary Gerling America Insurance Company, following yesterday’s announcement that Germany’s Deutsche Bank was transferring its 34.5 percent …
A bill that would allow surplus lines insurers to enter pleadings without posting a bond advanced from the Louisiana House Insurance Committee, according to the National Association of Independent Insurers. “House Bill 1476’s passage is critical for the survival of …
Copart, Inc. has opened a salvage facility in Richmond, Va. With the addition of this 12-acre greenfield location Copart now has 102 locations in 40 states. “The new Richmond location is strategically located midway between our Waldorf, Maryland and Danville, …
GAINSCO INC. said that securities litigation has been filed in United States District Court, Southern District of Florida against the company and two of its officers (one of whom is also a director). The plaintiffs seek class certification for the …
A recently conducted survey reportedly sheds light on how medical malpractice insurers view their industry’s future and what steps they are taking to meet it. Senior-level executives from nearly half of all U.S. medical malpractice/professional liability insurers participated in the …
The American Association of Insurance Services (AAIS) will hold a Web-based seminar Wednesday, May 28, concerning new endorsements to allow insurers to limit or exclude personal lines coverage for losses arising from mold and related causes. Endorsements limiting coverage for …
Illinois Director of Insurance J. Anthony Clark has revoked the business entity license of the Smagala Insurance, Inc. of Oak Lawn and the insurance producer licenses of Christine L. Smagala and Stanley A. Smagala of Burbank. Christine Smagala had been …
Legislation that would reportedly prohibit homeowners’ insurers from using credit history for underwriting, rating or payment plans in California will be considered Wednesday by the Senate Insurance Committee. “Senate Bill 691 ignores compelling evidence of the relationship between credit history …