Poe Financial Group member company Atlantic Preferred Insurance Company has received regulatory approval to assume 5,258 property and casualty policies from Citizens Property Insurance Corp. under its depopulation program. Essentially, the depopulation program reduces the number of policies in Citizens …
New Mexico Gov. Bill Richardson recently signed an Executive Order declaring a disaster in Grant, Hidalgo, and Catron counties because of extensive damage caused by storms that occurred beginning on Feb. 10, 2005 and lasted approximately four days. The severe …
Liberty Mutual Group reported net income of $565 million and $1.245 billion for the three and 12 months ended Dec. 31, 2004, respectively, representing a $130 million and $394 million increase over the same periods in 2003. “In 2004, we …
Following an initial three-state product launch two months ago, the Chubb Group of Insurance Companies is now also offering Signature Passport in Arizona, Colorado, Delaware, the District of Columbia, Maine, Michigan, Minnesota, Ohio, Oklahoma, Rhode Island, Tennessee and West Virginia. …
Fitch Ratings has affirmed the ‘A-‘ insurer financial strength ratings of ProAssurance Corporation’s primary insurance operating companies — The Medical Assurance Company Inc., ProNational Insurance Company, and MEEMIC Insurance Company as well as the ‘BBB-‘ long-term issuer rating to ProAssurance …
Florida Lt. Governor Toni Jennings recently announced the final recommendations of the Hurricane Housing Work Group for the use of the one-time disaster funds to address housing needs resulting from last year’s hurricane season. Appointed by Gov. Bush, the Work …
Florida’s Chief Financial Officer Tom Gallagher is urging residents in Palm Bay whose homes were damaged by this past Sunday’s tornado to call the Department of Financial Services’ storm hotline at 1-800-22-STORM if they need help checking the licensure of …
The St. Paul Travelers Companies Inc. announced that Doreen Spadorcia has been promoted to executive vice president, Claims, to lead the company’s claims organization. In her new role, which reports to co-Chief Operating Officer Brian MacLean, Spadorcia has also been …
California Insurance Commissioner John Garamendi issued the following statement in response to the recent Court of Appeal’s ruling on the state’s authority to regulate homeowners’ insurance: “The ‘use it and lose it’ insurance syndrome is a very real problem with …
MetLife Auto & Home has been appointed by the National Flood Insurance Program (NFIP) to offer flood insurance, becoming one of a select group of property and casualty insurance companies approved for the NFIP’s “Write Your Own” (WYO) program. “Most …