A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A+” (Superior) and the issuer credit ratings (ICR) of “aa-” of the Toronto-based ING Canada Group. The group includes Belair Insurance Company Inc. (Montreal, Quebec), ING Insurance Company of …
A.M. Best Co. has affirmed the public data (pd) financial strength ratings of 35 Canadian property/casualty companies, assigned one pd rating and downgraded one pd rating. Best stressed that the “pd ratings are based solely upon public information and present …
A.M. Best Co. has taken note of the increase in the use of sidecars as a way to offer rated debt to investors seeking exposure to various layers of catastrophic risks. “The tightening of reinsurance capacity in the property/casualty market …
Albuquerque residents were allowed to return to their southwestern New Mexico homes briefly Saturday as fire crews continued to battle a wildfire that had forced an evacuation two days earlier. Pinon, juniper and ponderosa pine trees are fueling the lightning-caused …
Firefighters battling two large wildfires in eastern Arizona and a third on the Utah-Arizona border reported good progress on all three of them Saturday. The largest blaze, burning in the Apache-Sitgreaves National Forest about 10 miles north of the mountain …
Republican U.S. Senate candidate Mike McGavick collected more than $28 million upon leaving his post as an insurance executive earlier this year, financial disclosures show. Most of that 2006 compensation from Safeco Insurance Co. was stock and options, his campaign …
Insurance and building safety groups are calling for Florida to end the exemption granted communities in the Panhandle Gulf Coast area from stricter building codes that are being enforced elsewhere in the state. The Tallahassee, Fla.-based Florida Insurance Council has …
Mississippi Insurance Commissioner George Dale has approved Nationwide Mutual Fire Insurance Co.’s request to raise rates for homeowner insurance by an average 16.4 percent statewide. The rate increases, sought after Hurricane Katrina ripped Mississippi’s coastal counties and left damage well …
Despite promises that rising medical malpractice insurance rates would be suppressed under new state laws, many of Georgia’s insurers have hiked their premiums since the sweeping reforms took effect last year, according to an Associated Press analysis of state insurance …
Connecticut Governor M. Jodi Rell announced that $50,000 is being released to the Department of Economic and Community Development’s Insurance and Financial Services (IFS) “cluster” to help underwrite a career fair, a resource directory and a new member recruitment effort. …