The U.S. Small Business Administration (SBA) has extended application deadlines to Jan. 3 for residents and business owners in Florida and Alabama. A spokesman said it has approved more than $1 billion in loans in Florida and other areas affected …
A.M. Best Co. announced that it has downgraded the financial strength rating to “A” (Excellent) from “A+” (Superior) of New York-based Sompo Japan Insurance Company of America (SJA), and has maintained a negative outlook on the rating. Best explained that …
According to a study published today by Standard & Poor’s Ratings Services, the U.S. property/casualty insurance industry has experienced greater ratings stability in 2004, primarily due to improved earnings. The study, entitled “Industry Report Card: U.S. Property/Casualty Insurers,” indicates that …
As more details emerge from Britain’s biggest bank robbery, it’s become clear that the Northern Bank in Belfast, Northern Ireland, which is owned by The National Australia Bank, had no insurance coverage. A National Bank spokesman told the BBC that …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Canada’s Lindsey Morden Group Inc. (LMG) to stable from negative. S&P also said that it has affirmed its”‘B” counterparty credit rating on the company. “The revised outlook …
The Unum Life Insurance Company of America, Provident Life And Accident Insurance Company, and the Paul Revere Life Insurance Co., all subsidiaries of UnumProvident, have agreed to settle issues regarding claims handling and marketing of disability insurance policies sold to …
Another auto insurer has agreed to reduce its rates in New York State in response to Superintendent of Insurance Greg Serio’s call for rate reviews. MetLife Auto & Home is reducing its auto insurance rates by an average of nearly …
The Texas Workers’ Compensation Commission reported it has determined, pursuant to the authority and direction given under the Texas Workers’ Compensation Act (Texas Labor Code, Section 401.023), that beginning Jan. 1, 2005, any interest or discount provided for in the …
AIK Comp, a Kentucky workers’ compensation group self-insurance fund currently in rehabilitation following a $58.5 million shortfall, will suspend writing new or renewal business effective Jan. 1, 2005, Martin Koetters, the rehabilitator, announced today. In making the announcement, Koetters, who …
Engle Martin & Associates, Inc., a leading provider of independent loss adjusting services, announced that Mr. Michael E. Minasian has joined their staff in Chicago and Mr. Brian M. Fell in New York City. “As we continue to execute our …