A.M. Best Co. announced that it has assigned a financial strength rating of “A” (Excellent) to ACE INA UK Ltd. and at the same time has affirmed the financial strength rating of “A” (Excellent) of ACE Insurance S.A.-N.V. (Belgium). The …
A.M. Best Co. announced that it has placed the financial strength rating of “A-” (Excellent) of Ireland’s Carraig Insurance Limited under review with negative implications. Best said its decision follows “the announcement of the takeover of its parent, Aventis S.A., …
Swiss-based Converium reported its “best quarter operating income so far,” with $77.2 million, up 192.4 percent, and net earnings of $65.7 million, up 157.6 percent. Other highlights cited by the world’s 10th largest reinsurer included the following: — Return on …
The federal jury that has been deliberating the complex issue of how much Silverstein Properties, the master leaseholder of the World Trade Center, should recover from its insurers has reached a partial verdict. On Thursday the jurors told the court …
Chicago-based commercial lines insurer CNA announced that its chief financial officer, Robert V. Deutsch, will step down once a replacement is found. CNA reported a first-quarter loss of $125 million thanks to the sale of its life insurance benefits unit. …
The nation’s report on fatalities shows there were 43,220 deaths overall on the nation’s highways in 2003, up slightly from 42,815 in 2002. At the same time, injuries from motor vehicle crashes declined slightly in 2003, to the lowest levels …
The Property Casualty Insurers Association of America (PCI) welcomed Thursday’s announcement by Massachusetts Gov. Mitt Romney of the creation of a task force consisting of high-ranking members of the Attorney General’s office, the Legislature and the administration. This unprecedented bipartisan …
New York Superintendent of Insurance Gregory Serio announced that the Department has levied $212,300 in fines against 21 health insurers and HMOs for failing to process their claims on time. The violations represent the eighth round of fines since the …
A mother and son and the owner of a Stoughton, Massachusetts auto body repair shop have been indicted on charges they allegedly conspired to inflate damages to a BMW convertible and then attempted to defraud an insurance company of $50,000, …
Hailstorms that hit central Oklahoma a week ago caused more than $75 million in damage, according to preliminary estimates released by the Oklahoma Insurance Department. The Associated Press reported that an estimate of $75 million to $100 million represents the …