Standard & Poor’s affirmed its ‘BBB+’ counterparty credit rating on W. R. Berkley Corp. At the same time, Standard & Poor’s affirmed its ‘A+’ counterparty credit and financial strength ratings on BER’s operating companies (collectively referred to as Berkley). The …
Florida’s Office of Insurance Regulation has ordered a Fort Worth, Texas company to immediately cease operations in Florida. Global Bonding has reportedly been soliciting customers for the purchase of contractor surety bonds and has been issuing construction performance bonds and …
A.M. Best Co. has downgraded the financial strength rating to B (Fair) from A- (Excellent) of Medical Assurance of West Virginia, Inc., (Charleston, WV) a wholly-owned subsidiary of Medical Assurance Company Inc. (MAI), which, in turn, is a wholly-owned subsidiary …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to Dublin-based New Technology Insurance (NTI), with a stable outlook. “The rating reflects NTI’s excellent current and prospective capitalisation and operating performance,” said Best. “Offsetting …
GEICO and New York Governor George Pataki’s office announced that the auto insurer has selected Buffalo as the site of its second major operations center in New York. GEICO plans to develop a 250,000-square-foot facility in the CrossPoint Business Park …
Halliburton Company’s plan to send several of its subsidiaries into bankruptcy as part of a $4.17 billion settlement of all current and future asbestos claims won’t happen if a lawsuit by more than 20 insurance companies is successful. Halliburton filed …
The Texas Workers’ Compensation Commission announced it has determined, pursuant to the authority and direction given under the Texas Workers’ Compensation Act (Texas Labor Code, Section 401.023), that any interest or discount provided for in the Act shall be at …
Peoria, Ill.-based RLI Corp. reported that it expects minimal losses from the Dec. 22 earthquake along the central California coast. RLI specializes in the writing of earthquake coverages, but has limited commercial property exposure in the immediate vicinity of the …
American Physicians Capital Inc., headquartered in East Lansing, Mich., announced that its board of directors has appointed R. Kevin Clinton as president and CEO, effective Jan. 1, 2004. Clinton is currently president and CEO of American Physicians Assurance Corporation, APCapital’s …
Harold S. Fischer, CEO of Fort Lauderdale, Fla.-based North American Liability Group (NALG), announced it has become aware that an unauthorized spam e-mail was sent out about the company by an unknown third party. NALG noted that someone who identified …