U.S. property/casualty insurers are expected to pay policyholders an estimated $4.9 billion for insured property-loss claims from four catastrophic events in the second quarter ― the second-highest second quarter in losses since 1994 ― according to estimates by Insurance Services …
Standard & Poor’s 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 outlook is stable. “The …
Cincinnati-based American Modern Insurance Group, a provider of specialty insurance products and the primary subsidiary of The Midland Company, announced the addition of three senior executives and the promotion of a fourth to lead its property, casualty, sales and financial …
Tennessee Commissioner of Commerce and Insurance Paula Flowers has created a Fire Mortality Prevention Task Force to help reduce the reported high rate of fire-related fatalities in the state. According to the National Fire Prevention Association, Tennessee ranks second in …
A Russellville, Alabama man surrendered his license to sell insurance, including pre-need policies, as a part of a guilty plea recently on theft by deception charges. Mark Spry, 48, reportedly admitted that he pocketed $4,000 in premiums collected from an …
New York Superintendent Gregory Serio announced that Dawn M. Hogue, a former customer service representative for Excellus Blue Cross Blue Shield in Rochester, was charged with two counts insurance fraud in the third degree and two counts grand larceny in …
Bermuda-based Allied World Assurance Holdings, Ltd reported net income of $73.8 million for the second quarter 2003, compared to $26.2 million for the second quarter last year. Net income for the six months ended June 30, 2003 was $129.6 million, …
ClaimIQ (www.ClaimIQ.com), a San Francisco-based provider of decision support solutions for Property/Casualty carriers, announced the Version 2.0 release of InjuryIQ(TM), LiabilityIQ(TM), and VerityIQ(TM). ClaimIQ’s integrated claim-handling platform helps insurance companies control costs by improving the discipline, consistency and effectiveness of …
The St. Paul Cos. advised that the second-quarter 2003 earnings impact related to a surety exposure, with a total aggregate face amount of $120 million as previously described in a Report on Form 8-K filed on April 30, 2003, will …
Profitable performance of its Auto and Group stop-loss medical insurance lines drove Safeco’s second-quarter results as the company reported net income of $111.9 million, or $0.81 per diluted share. This compares with net income of $105.2 million, or $0.82 per …