Standard & Poor’s has revised its outlook on U.K.-based insurer Sunderland Marine Mutual Insurance Co. Ltd. (SMMI) to positive from stable. At the same time, Standard & Poor’s affirmed its ‘BBB’ long-term counterparty credit and insurer financial strength ratings on …
Galveston, Texas-based American National Insurance Co. announced second quarter 2003 net income of $25.7 million (97 cents per share) compared to $6 million (23 cents per share) for the same period in 2002. The second quarter of 2002 included a …
The WCIRB Governing Committee recently approved the filing of an average 12 percent increase in advisory pure premium rates to be effective on policies incepting on or after Jan. 1, 2004. The recommended increase was based on an analysis of …
Standard & Poor’s has affirmed its ‘AA’ financial strength and long-term counterparty credit ratings on Assicurazioni Generali SpA, the parent and main property-casualty company of the pan-European insurance group Generali. The outlook is negative. At the same time, Standard & …
In a legislative session reportedly dominated by budget issues, Delaware lawmakers rejected a ban on the use of credit-based insurance scores and took a compromise approach toward medical liability reform. The Legislature also passed a bill affecting insurers’ investment in …
Pennsylvania-based Harleysville Group Inc. reported diluted operating income of $0.33 per share for the second quarter ended June 30, 2003, compared to $0.46 per share in the same period of 2002. For the six months ended June 30, 2003 and …
Grand theft charges were filed against a licensed agent and owner of California-based SAAB Insurance Services. Irma Hernandez, 33, of Downey, was arrested and charged with two felony counts of grand theft and booked into Los Angeles County Jail. Bail …
The California Office of Administrative Law (OAL) last week approved the insurance department’s emergency regulation on homeowners insurance underwriting and rating. The regulation restricts insurers’ consideration of past losses. The Association of California Insurance Companies (ACIC) sought a “stay” on …
The Texas Independent Insurance Adjusters Association will hold its Fall Seminar on Thursday, Nov. 6 in Dallas For further information, contact Roy Bohrer, (512) 454-8626, tiiaa@assnmgmt.com, www.tiiaa.org
ADESA Kansas City named Rob Reed as its new fleet/lease manager. ADESA Kansas City is one of 53 wholesale vehicle remarketing auctions owned by Indianapolis-based ADESA Corp., an ALLETE company. Reed, the former national account manager at ADESA Dallas, will …