After the largest fire the San Jose Fire Department had seen in 27 years ripped through Santana Row, an upscale retail development in the area, Disaster Kleenup International network member Four Star Cleaning and Restoration of Fremont, Ca., was called …
Milliman USA, a consulting and actuarial firm, has acquired the Insurance Actuarial Software (IAS) practice from IBM Business Consulting Services. The IAS unit is a provider of loss reserve analysis tools to the property and casualty market. IAS designs and …
Bermuda-based AXIS Capital Holdings Limited announced its results for the quarter ended March 31, 2003. Gross premiums written for the quarter were $608.6 million compared to $265.7 million for the quarter ended March 31, 2002. Of the premiums written during …
Standard & Poor’s has assigned its ‘A+’ long-term counterparty credit and insurer financial strength ratings to U.K.-based legal expenses insurance (LEI) underwriter D.A.S. Legal Expenses Insurance Co. Ltd. (DASUK). The outlook is negative. “The ratings reflect the company’s strategic importance …
Virginia’s State Corporation Commission announced that it has temporarily stopped the payment of certain claims by Reciprocal of America (ROA) – a Virginia-domiciled reciprocal that was placed into receivership on January 29, 2003. The company has not been writing new …
The Florida Department of Financial Services filed administrative complaints this week against 15 Florida agents accusing them of selling insurance policies for unlicensed entities. The department announced it is continuing to conduct conducting unannounced compliance examinations at agent offices in …
Alabama Insurance Commissioner Walter A. Bell ordered an unlicensed Oregon company marketing medical malpractice insurance to physicians and hospitals in his state to terminate all activities there. The formal cease and desist order was filed against First Actual American Insurance, …
The Chubb Corporation reported that net income in the first quarter of 2003 was a record $224.6 million, a 13.3 percent increase over net income of $198.2 million in the first quarter of 2002. Net income per share increased 13.9 …
An Ohio Municipal Judge, Don McAuliffe, has withdrawn from a November election after being indicted on arson, fraud and money laundering charges. The U.S. Attorney’s Office claims McAuliffe burned his Buckeye Lake home to get more money from his insurance …
Bermuda-based Montpelier Re Holdings Ltd. reported net income of $103.8 million, or $1.56 diluted earnings per share, for the three months to March 31, 2003. Comprehensive income was $103.0 million for the quarter, or $1.55 diluted comprehensive income per share. …