A.M. Best Co. announced that it has assigned an initial issuer credit rating of “bbb-” to Tower Limited and an “A-” (Excellent) financial strength rating to Tower Insurance Limited. It said the outlook for both of the New Zealand-based companies …
A conservative legal group has called for insurance regulators and attorneys general in California and New York to investigate conflicts of interest they say are caused by placement service agreements (PSAs) and the practice of “leveraging.” The use of PSAs …
The Washington, D.C.-based Council of Insurance Agents and Brokers (CIAB) has filed suit in South Dakota, West Virginia and the U.S. Virgin Islands challenging statutes that preclude out-of-state insurance brokers from conducting business in their jurisdictions without the countersignature of …
Illinois Insurance Director J. Anthony Clark has announced he will step down from his post effective Feb. 13, according to the Associated Press. The constraints forced upon the insurance department by the state’s budget and the bother of commuting between …
The use of loss history reports on individual dwellings is an important and necessary tool that insurers need to help them underwrite homeowners’ policies in Nevada. That’s the message delivered by the Property Casualty Insurers Association of America (PCI) at …
California Insurance Commissioner John Garamendi unveiled his new workers’ compensation reform package Feb. 10. His proposal aims to bridge the gap between labor and business interests and provide a solid framework for Democrats and Republicans to address the system’s serious …
Tennessee Insurance Commissioner Paula Flowers, acting as liquidator for three failed malpractice insurance firms, has filed suit in U.S. District Court seeking to recover damages on behalf of the companies’ more than 50,000 former policyholders. The 62-page lawsuit, filed in …
Georgia Insurance and Safety Fire Commissioner John Oxendine said a fire that destroyed a business and a church in downtown Cordele last week was arson. The fire at the Exchange Mart building, 132 W. 11th Avenue, started in Dennard’s Used …
Kansas Insurance Commissioner Sandy Praeger is warning consumers to beware of companies soliciting discount health cards. Solicitations in Wichita appear to target the Hispanic Community. These so-called health care plans offer family benefits and coverage for as little as $40 …
Accordis Inc., a business office outsourcing company serving healthcare and ambulance transport providers, announced it has signed St. Luke’s Roosevelt Hospital and Long Island College Hospital in New York as new clients. With the addition of these Continuum hospitals, Accordis …