As insurers are confronted with increased pressures from claims involving asbestos, mold, and directors and officers’ policies, little attention is paid to the decreasing number of traditional environmental claims. In fact, many states have clearly delineated the parameters of available …
Florida-based First Advantage Corporation, a national provider of enterprise and consumer screening solutions, announced its acquisition of Omega Insurance Services, also headquartered in St. Petersburg, Fla. Omega conducts fraud investigations for insurers, third-party administrators and self-insured employers nationwide. Omega’s investigative …
Aviva Plc., the U.K.’s largest insurer, announced plans to raise £1.2 billion ($1.91 billion) in new capital through the issuance of junior subordinated bonds. Plans call for the issue to be completed by the end of the month. With interest …
A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of France’s SCOR Group and its guaranteed subsidiaries. The company reacted quickly with an announcement that it regrets the decision “at …
Pennsylvania’s PMA Insurance Group announced that Kurt L. Schuhl has joined the company as Senior Vice President and Chief Claims Officer, reporting directly to PMA’s President and COO, Vincent T. Donnelly. He assumes responsibility for leading PMA’s Insurance Claims Operations, …
New Jersey Insurance Commissioner Holly C. Bakke has issued a bulletin to all NJ P/C Insurers giving guidelines on Mold/Fungus Exclusions for personal and Commercial lines. The bulletin, No. 03-24, replaces a previous set of guidelines contained in bulletin 02-14, …
Calif. Insurance Commissioner John Garamendi said that legislation crafted by the Workers’ Compensation Conference Committee will bring stability to the market and is an “outstanding” first step toward bringing lower premiums to employers struggling under the burden of the broken …
Illinois consumers filed fewer complaints about their insurance companies and HMOs according to the 2002 consumer complaint statistics released today by Director of Insurance J. Anthony Clark. A major exception to this trend, however, was an increase in complaints against …
Chicago-based insurer CNA has filed suit against a former executive it says violated an exit agreement not to hire away any employees for at least three years by luring away 11 top company executives to a competing firm, according to …
Standard & Poor’s has lowered its counterparty credit and financial strength ratings on Royal & Sun Alliance Insurance PLC’s (R&SAIP; A-/Negative/A-2) U.S. insurance operations (RSA USA) to ‘BB+’ from ‘BBB-‘ and removed them from CreditWatch. Standard & Poor’s also said …