A.M. Best Co. has revised the implications of its review of The St. Paul Cos. Inc.’s financial strength and debt ratings from positive to developing. This rating action follows St. Paul’s announcement today that it recorded a $350 million pretax …
Las Vegas-based Sierra Health Services Inc. reported that income from continuing operations for the quarter ended Dec. 31, 2003 was $24.0 million, or $0.80 per diluted share, compared to income from continuing operations of $12.2 million, or $0.39 per diluted …
On Jan. 30, the National Equipment Register (NER) will release its first annual report studying the problem of heavy equipment theft in the U.S. Based on NER’s database of more than 30,000 theft reports and statistics from the Insurance Services …
The U.S. Attorney’s Office in Boston announced that “Anthony Snow, age 43, of 1810 Dorchester Avenue, Dorchester, Massachusetts, pleaded guilty before U.S. District Judge Patti B. Saris to an Information charging him with six counts of mail fraud and three …
A.M. Best Co. announced that it has assigned initial financial strength ratings of “A-” (Excellent) to Quanta Specialty Lines Insurance Company of Indianapolis, Ind. and Quanta Indemnity Company of Denver, Colo., with a stable outlook. Best’s announcement noted that both …
Lloyd’s run-off vehicle, Equitas and Halliburton Company announced that they have reached a comprehensive agreement to settle Halliburton’s insurance claims against certain Underwriters at Lloyd’s for $575 million. Halliburton said in a statement that “The settlement will resolve all asbestos-related …
Steve Woods, MD, Overlake Hospital OBGYN and partner in a private medical practice, along with several of his Overlake Hospital and Evergreen Hospital colleagues, met in Olympia, Wash., recently to talk to King County Legislators about Washington’s medical malpractice crisis …
In reviewing the decisions rendered in the past year concerning reinsurance, a trial court decision caught my eye as highlighting an issue that frequently arises between reinsurers and cedents. Travelers Casualty and Surety Co. v. Constitution Reinsurance Corp., No. 01-71057, …
The Cincinnati Insurance Companies this month completed rollout of a new Claims Management System that streamlines file administration for property casualty insurance claims. “CMS supports our continued commitment to providing exemplary claims service with a personal touch,” said Gary Givler, …
The Texas Workers’ Compensation Commission (TWCC) announced that Gov. Rick Perry appointed Commissioner Mike Hachtman to serve as chairman of the agency. Hachtman’s term as chairman will expire Feb.1, 2005. He replaces Commissioner Richard Smith, who has served as chairman …