Standard & Poor’s revised its outlook on American Fire & Casualty Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co., and West American Insurance Co., which make up the Ohio Casualty Insurance Co. Intercompany Pool (OCIP), to stable from negative. …
A.M. Best Co. has commented that the financial strength rating of A (Excellent) of Navigators Insurance Group (New York, N.Y.) remains unchanged following Navigators’ announcement that it will strengthen loss reserves for asbestos exposures in the fourth-quarter of 2003 by …
New Jersey Attorney General Peter Harvey announced that an insurance fraud investigation by the Division of Criminal Justice – Office of Insurance Fraud Prosecutor and the Division of Taxation has resulted in the indictment of a California chiropractor and his …
Oklahoma Insurance Commissioner Carrol Fisher has been indicted, his lawyer told the Associated Press. What the indictment alleges is still unclear, though a grand jury has been investigating a Fisher-organized charity’s fundraising activities. Fisher will be arraigned in Oklahoma County …
The Georgia legislature is reportedly considering almost a dozen House bills dealing with civil justice reform and medical malpractice insurance reform. “We commend the sponsors of these bills for taking on this politically charged issue,” said Robert Herlong, Southeast regional …
The Property Casualty Insurers Association of America (PCI) issued a stern response to a Wednesday, Feb. 11 CBS Evening News story that reportedly contained unfair allegations from the auto body industry that insurer-owned auto body shops are a “colossal conflict …
Arkansas Insurance Commissioner Mike Pickens announced the disbursement of $.8 million to certified fire departments in Arkansas. The funds are distributed pursuant to Act 1326 and Act1583 of 2003. More than 900 fire departments will share in the funds. “We …
At a state Senate hearing earlier this week, the California Chiropractic Association (CCA) outlined a series of fundamental weaknesses in pending workers’ compensation reform bills SBX4 3 and ABX4 1. In short, CCA testified that last year’s legislation will cut …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Misr Insurance Company (Egypt). The outlook remains stable. The rating reflects the company’s excellent risk-adjusted capitalization, operating performance and business profile in the Egyptian market. Excellent risk-based …
A.M. Best Co. has assigned an initial financial strength rating of B++ (Very Good) to Jamaica International Insurance Company Ltd. (JIIC) (Kingston, Jamaica). The rating outlook is stable. The rating is based on JIIC’s strong capitalization, excellent operating results, liquid …