American International Group, Inc. (AIG) has named Anthony J. Galioto to the position of AIG Companie’ senior executive – East. Based in Atlanta, Galioto succeeds David M. Hupp, who was recently elected president and chief executive officer of AIG Aviation, …
A.M. Best Co. has placed the financial strength rating of “B++” (Very Good) and issuer credit rating of “bbb” (ICR) for Ireland’s Primary Insurance Company Limited (PICL) under review with negative implications. “These rating actions follow worse than anticipated financial …
A.M. Best Co. has placed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-“of Swiss reinsurer Glacier Reinsurance AG under review with negative implications. “The rating action is due to Glacier Re’s 2005 year-end net …
A.M. Best Co. has affirmed the financial strength rating of “B++” (Very Good) and assigned an issuer credit rating of “bbb” to Germany’s SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG (Sovag) with a stable outlook. Best noted that “Sovag is a specialist …
ACE European Group announced that it is offering an extensive and affordable environmental liability cover specifically for smaller and mid-sized private and corporate businesses, as part of its existing liability and commercial package insurance programs. The bulletin described ACE’s new …
A suburban tavern owner was promised he would receive only “a slap on the wrist” for citations against his business because the agency he bought his insurance through was owned by a friend of the longtime mayor of suburban Niles, …
The Indiana Economic Development Corporation (IEDC) today announced the roll-out of a new incentive aimed at encouraging growth in the insurance industry by establishing a $2 million fund to help companies defray the costs associated with numerous training and certification …
The PMA Insurance Group announced that William G. Carney has joined the company as vice president of product development and management. Carney is responsible for the corporate underwriting management of PMA’s lines of business and product development initiatives. Carney was …
A Bush administration proposal to dismantle an Energy Department agency that oversees nuclear and worker safety has run into opposition from a former energy secretary and others. New Mexico Gov. Bill Richardson, who was energy secretary under the Clinton administration, …
Legislation, sponsored by California Insurance Commissioner John Garamendi is unnecessary, will increase costs and will further complicate data collection, said the American Insurance Association (AIA). AB 925, authored by Assemblyman Mark Ridley-Thomas, D, requires insurers to report California community-related investments …