While pressure on risk-adjusted capital adequacy has reportedly been the prime source of lower reinsurer ratings, a crucial additional component has been the posting of only modest underwriting profits in property/casualty to date in 2003. Expectations for the full year …
At the recent Texas Department of Insurance (TDI) hearing on insurance scoring and territorial rating rules, insurers expressed their support for proposals they believe will ensure consumers are charged premiums that reflect their risk characteristics, according to the National Association …
Moody’s Investors Services announced that it has confirmed the insurance financial strength rating at Baa2 of the Royal & Sun Alliance Group and its European operations, but has downgraded the ratings of Royal & Sun Alliance USA to Ba3. All …
Focusing the spotlight on solutions to California’s economic problems, State Insurance Commissioner John Garamendi urged Governor-elect Arnold Schwarzenegger to convene a special session of the legislature on workers’ compensation when he takes office in November. Garamendi met with Schwarzenegger Thursday …
New Jersey Banking and Insurance Commissioner Holly Bakke this week joined officials from across the health care system to highlight the need for medical providers to immediately move to follow a federal law for health care claims. Failure to comply …
The Commerce Group, Inc. reported 2003 third quarter results. Net earnings were $22.9 million, or $0.71 per diluted share, compared to net earnings of $12.6 million or $0.38 per diluted share for 2002 (as restated). During the third quarter of …
The Seibels Bruce Group, Inc. has received approval from the Tennessee Department of Insurance allowing subsidiary Catawba Insurance Company (CIC) to resume writing new risk-bearing commercial lines business in Tennessee. CIC had discontinued writing this business in Tennessee in August …
By a count of 59-39 – one short of the 60 votes necessary – members of the Senate this week blocked efforts to end a filibuster on S. 1751, “The Class Action Fairness Act of 2003.” As written, the act …
RealLegal, LLC, which provides litigation and practice management software for insurance companies and legal organizations, announced the upcoming release of RealLegal Practice Manager 9.0, adding new functionality to reduce duplicate data entry, collaborate with outside counsel, meet compliance standards and …
In overturning a lower court ruling, the Texas Supreme Court has ruled that insurance contracts do not require an insurer to pay a policyholder for the vehicle’s so-called diminished value. In the case of American Manufacturers Mutual Insurance Co., et …