Massey Energy Company announced that its property and business interruption insurance carriers agreed to pay $21 million on Massey’s claim related to the October 2000 slurry spill at its Martin County Coal subsidiary, for property damage, business interruption and related …
Insurance Bureau of Canada (IBC) is strongly cautioning Transport Canada that its proposed regulatory approach to electronic immobilization will reportedly cause a disservice to consumers and could set back the fight against vehicle theft. Electronic immobilizers are systems that prevent …
Springfield, Ill.-based Horace Mann Educators Corp., which provides insurance and annuities to educators, announced that its net income for the second quarter and six months ended June 30 was negatively affected by about 15 cents per share due to an …
eAutoclaims announced that Standard Mutual Insurance of Springfield, Ill. will be using eAutoclaims “Accurate Loss” First Response Unit to document First Notice of Loss and electronically transmit that information simultaneously to agents and the home office using proprietary technology created …
Los Angeles-based Mercury General Corporation reported that net income was $43.4 million, or $0.80 per share (diluted), in the second quarter 2003 compared with $1.3 million, or $0.02 per share (diluted), in the same period for 2002. Net operating earnings, …
Tim Donney has joined Fireman’s Fund McGee Marine Underwriters at the company’s New York City headquarters as Marine Loss Control Director. A 25-year veteran of marine loss control, Donney will manage the loss control services provided by this leading marine …
The dramatically mixed results of the most recent U.S. Department of Transportation’s National Highway Traffic Safety Administration (USDOT) survey showing historic lows in crash-related injuries and historic highs in highway fatalities reportedly testifies to the need for more stringent methods …
Standard & Poor’s Ratings Services said it lowered its long-term counterparty credit and insurer financial strength ratings on Zurich-based global reinsurer Swiss Reinsurance Co. and related core subsidiaries of the Swiss Re group (Swiss Re) to ‘AA’ from ‘AA+’. The …
According to Texas Attorney General Greg Abbott, the state has reached a settlement with Farmers Insurance Group that requires the company to refund an estimated $2.4 million to about 13,000 Texas motorists who may have paid more for vehicle repairs …
The Seibels Bruce Group Inc., based in Columbia, S.C., announced that subsidiary Universal Insurance Company (UIC) received a 2003 Financial Stability Rating® of “A” (Exceptional) from Columbus, Ohio-based Demotech Inc. This level of financial stability rating indicates that the balance …