The four property/casualty insurance trade associations, joined by a workers’ compensation and a reinsurance association, have joined together to ask the National Association of Insurance Commissioners (NAIC) to reject any reduction of collateral requirements for alien reinsurers doing business in …
Lloyd’s Chairman, Lord Peter Levene, told Members attending its Annual General Meeting yesterday, that “Lloyd’s has been a beacon of light. We have defied the doomsayers. And we have done more than that: we have flourished. At a time when …
Standard & Poor’s has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. (SFMA) and five other interactively rated members of the State Farm Insurance Group (State Farm). Standard & Poor’s also affirmed …
Louisiana and Texas legislators opted to overhaul their insurance regulatory systems this year with competition-based solutions that should reportedly help to address the insurance availability and affordability crises that have gripped consumers in both states. Louisiana recently adopted a flex-rating …
With Holyoke Mutual Insurance Co. entering into an arrangement to transfer all of its Massachusetts auto insurance business to Plymouth Rock Assurance Corp., the Commonwealth has one less insurer writing auto coverage, reportedly further contributing to an already troubled insurance …
Insurance Commissioner John Garamendi announced that the California Department of Insurance (CDI) served a Cease and Desist Order on Insurance Company of the Americas (ICA) based in Bradenton, Fla. and Oriskany, N.Y., following an investigation that revealed the company illegally …
Florida’s largest medical liability insurer said that the Legislature’s failure to adopt Governor Jeb Bush’s reform package will reportedly prohibit the company from reducing premium rates for doctors and hospitals by an average 20 percent, as it had earlier pledged. …
Standard & Poor’s Ratings Services issued an announcement indicating that Munich Re’s first quarter results and those of its subsidiary companies are “broadly in line” with its expectations. S&P currently rates the group ‘AA-‘ with a “negative” outlook. It does, …
California-based Document Sciences Corporation (www.docscience.com), a provider in automating creation and delivery of enterprise business communications, recently unveiled a comprehensive solution for generating property and casualty proposals, policies and claims correspondence. The solution combines Document Sciences’ award-winning xPression architecture with …
Pennsylvania Governor Edward Rendell on Wednesday commended the Pennsylvania Senate for confirming M. Diane Koken as Commissioner of the Insurance Department. The confirmation marks the third consecutive confirmation of Koken to the position since first being appointed in 1997. “Commissioner …