Monthly Archives: <span>May 2004</span>

Fla. CFO Warns of Hurricane Preparedness

With explosive state population growth and experts predicting the formation of more than 12 named Atlantic storms, Florida’s Chief Financial Officer Tom Gallagher is issuing a warning to consumers: Prepare now. “Hurricane season is just days away,” said Gallagher. The …

Keenan Names Clute to Advisory Board

California-based brokerage firm Keenan announced the appointment of Pamela Clute, Ph.D., to their Advisory Board.Clute last week was lauded with the National Science Foundation Presidential Award for Excellence in Science, Mathematics and Engineering Mentoring at the White House. Keenan provides …

New Insurance Protects Against Gaps for Auto, Medical Policies During Travels

According to a recent 2004 Roper survey, 56 percent of American families will drive to their summer vacation this year, continuing a long-held American tradition. With that in mind, Access America has introduced a new type of travel insurance designed …

Former N.J. Insurance Company Employee, Boyfriend Plead Guilty in Fraud Scheme

New Jersey Attorney General Peter Harvey announced that a former Middlesex County-based insurance company employee and her boyfriend pleaded guilty in Morris County Superior Court to charges they concocted an insurance fraud scheme that netted more than $25,000 in stolen …

Best Expands E-Fusion Award to Six Categories

A.M. Best Co. announced that the 2004 E-Fusion Insurance & Technology Awards have been expanded to six categories. “Interest in our awards program has snowballed, so we need to better reflect the widespread business and technology innovation that’s taking place …

Allstate Study Warns on Coastal Floods

Allstate Insurance Company announced that a study it conducted in 2003 identified more than 750,000 homes in coastal hurricane states that may not have flood insurance. The study looked at current Allstate homeowners insurance customers living in or near “Special …

Union Pacific Announces Derailment Settlement

The Union Pacific Corporation announced that a settlement agreement has been reached in a class action lawsuit related to the May 27, 2000 train derailment near Eunice, Louisiana. Terms of the settlement, which is subject to court approval, provide for …

Arch Insurance Announces $25 Million in New Capacity for Railroad Industry

Arch Insurance Group, a division of Bermuda-based Arch Capital Group Ltd., announced its entrance into the railroad arena with up to $25 million in new capacity, which it said will provide “an additional market for a wide assortment of rail-related …

Munich Re Posts $641 Million Q1 Profit

Munich Re announced excellent first quarter results, posting a profit of 534 million euros ($641.3 million) and a combined ration of 96.3 percent. The brief announcement was made prior to the company’s 117th Annual General Meeting, which will take place …

Best Affirms Montpelier Re ‘A’ Rating; ‘bbb’ Debt

A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Bermuda-based Montpelier Reinsurance Ltd. and its debt rating of “bbb” on $250 million 6.125 percent senior unsecured notes due 2013 for Montpelier Re Holdings …