The New York State Insurance Department announced that it has scheduled a public hearing on July 3, to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation insurance increase of 11 percent, to …
A.M. Best Co. announced that it has affirmed the ‘A’ (Excellent) financial strength rating of Caisse Centrale de Reassurance (CCR), a Paris based reinsurer, with a “positive” outlook. “The rating reflects the company’s superior risk-based capitalisation, its leading position in …
Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings on the primary operating subsidiaries of Toronto, Ontario-based Aviva Canada Inc. (formerly CGU Group Canada Ltd.) to ‘A’ from ‘A+.’ The bulletin …
Employers Insurance Company of Nevada, A Mutual Company (EICN) announced that it has received an “A- (Excellent)” rating from A.M. Best Company. “Today is an historic day in the continuing evolution of Employers Insurance Company and its subsidiaries,” said EICN …
California Insurance Commissioner John Garamendi released the following statement regarding the United States Supreme Court’s decision to defeat a California law required insurance companies to provide information about all of their Holocaust-era policies. “For more than 60 years insurance companies …
The National Association of Independent Insurers (NAII) is seeking to ensure that a Nebraska Supreme Court proposed rule regarding the unauthorized practice of law does not adversely affect the insurance industry. The issue of unauthorized practice of law has been …
In testimony over the weekend during the National Association of Insurance Commissioner’s (NAIC) summer meeting, the American Insurance Association (AIA) supported the continued availability of mandatory pre-dispute arbitration instead of litigation. “AIA strongly believes that arbitration plays an important role …
The Maine legislature tackled several important issues this session such as credit-based insurance scores and workers’ compensation, however it deferred action on establishing building codes and creating a joint underwriting authority to address affordability issues with coastal property. Maine joined …
Insurance Auto Auctions, Inc., a provider of automotive salvage and claims processing services in the United States, announced the acquisition of Wilmington Salvage Disposal Company in Castle Hayne, North Carolina, which is located just north of Wilmington. The 23-acre facility …
The National Insurance Crime Bureau (NICB) reported that nine of the top 10 metropolitan areas for vehicle theft are in or near ports and Canadian and Mexican borders or within easy reach of them. The 10 metropolitan areas (MSAs) with …