Standard & Poor’s Ratings Services announced that it has affirmed its ‘BBB’ counterparty credit and financial strength ratings on Atlantic Specialty Insurance Co. (Atlantic Specialty) and removed these ratings from CreditWatch. It subsequently withdrew the ratings at the company’s request. …
The American Insurance Association (AIA) said it supports reform of the Massachusetts auto insurance system to provide consumers with more choices and increase competition in the market. Gov. Mitt Romney’s (R) call for reform of the system is reportedly welcome …
The North Carolina Supreme Court has reaffirmed the constitutionality of the state’s law capping punitive damages, a decision that maintains the certainty and predictability of North Carolina’s judicial system, according to the American Insurance Association (AIA). AIA joined with the …
The Insurance Council of Texas presented $15,000 in scholarships this month to students at Baylor, the University of Texas at Austin and the University of North Texas. All of the students had excelled in insurance and risk management courses. “Every …
Cocky and overconfident motorists are posing a real danger on Britain’s roads, a new report reveals. The Norwich Union Insurance Crash Index reportedly shows the country to be a nation of arrogant drivers – with 93 percent claiming to be …
Insurance Australia Group Ltd. (IAG) chief executive Michael Hawker warned that global warming seems to be leading to an increased incidence of high-cost storms and floods in Australia and New Zealand. Hawker made the remarks in a speech to the …
While other insurers had a good year in 2003, Lloyd’s had a great one. The 300 year old insurance market projected 2003 profits on an annualized basis of $3.387 billion. On the old three-year system the 2003 underwriting year profit …
eAutoclaims has secured a two-year contract with Michigan Millers Mutual Insurance Co., the claims management services firm announced. eAutoclaims said it will provide its national network of body shops and independent appraisers to process Michigan Millers’ automobile and commercial heavy …
New Jersey Governor James E. McGreevey and Commissioner Holly C. Bakke are celebrating what they say are two milestones on the road to a consumer-directed auto insurance marketplace – more than $100 million returned to policyholders and the opening of …
California-based Risk Management Solutions (RMS), a leading provider of products and services for the management of catastrophe risk, announced that final values for its regional weather indexes show that temperatures in the winter of 2003 were near the 10-year average …