The owners of the sagging, flood-stained home in New Orleans aren’t in. Above the front door, a banner explains their absence, and the lack of progress: “Allstate paid $10,113.34 on this house for storm damage.” Like the home next to …
Insurance industry analyst A.M. Best this affirmed the rating of the members of The MEMIC Group. According to Best, Maine Employers’ Mutual Insurance Company (MEMIC) and The MEMIC Group remain “A” (Excellent) while subsidiary MEMIC Indemnity Company remains “A-” (Excellent). …
The Progressive Corporation has appointed an internal candidate, John P. Sauerland, to be the new president of the Progressive Direct Group of Insurance Companies. He replaces Alan R. Bauer, who had been president of the direct operations since 2002. Bauer …
Insurance industry representatives urged New Jersey lawmakers not to restrict insurers’ use of certain rating variables including occupation and education in the pricing of auto insurance policies, insisting that the freedom to experiment with rating factors is an essential part …
Standard & Poor’s Ratings Services has affirmed its “BBB-” long-term counterparty credit and senior unsecured debt ratings on Toronto-based Kingsway Financial Services Inc. with a stable outlook. “As Kingsway is a holding company, the ratings reflect the structural subordination of …
A.M. Best Co. and Fitch Ratings have both issued statements concerning their ratings on the Swiss Re Group and its subsidiaries following the closure of the acquisition of GEIS and related entities (See IJ Website June 12). In contrast to …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. and its core entities to “AA-” from “AA” following the closure of its acquisition GE Insurance Solutions Corp. (GEIS) (See …
West Virginia Insurance Commissioner, Jane L. Cline has announced that the Offices of the Insurance Commissioner have approved an overall 10 percent decrease in loss costs for workers’ compensation rates. Loss cost is the portion of the workers’ compensation rate …
A list of individual company “hotline” numbers that policyholders would use if Tropical Storm Alberto becomes more than a rainmaker, has been updated by the Florida Insurance Council in Tallahassee, Fla. “We are also updating our list of media contacts …
National Hurricane Center forecasters were closely watching the season’s first tropical storm on Monday evening and were unsure if Alberto would strengthen into a hurricane overnight or maintain its speed just below Category One hurricane level as it moved toward …