North Dakota’s workers’ compensation agency has promised to address the management shortcomings highlighted in a recent state audit by next month, its legislative defenders say. The North Dakota House this week staved off a second attempt to restore the governor’s …
Pennsylvania Governor Edward G. Rendell today accepted the resignation of Insurance Commissioner Diane Koken, effective Feb. 19. Rendell appointed Randolph Rohrbaugh, currently a deputy commissioner, to serve as acting insurance commissioner during the formal search for a permanent successor to …
Violators of the state’s cell phone ban ponied up about $700,000 last year by mailing in the $100 fine and not contesting the citation, but the state potentially missed out on more money by not prosecuting the thousands of drivers …
Zurich Financial Services Group announced that “based on preliminary estimates it expects aggregate claims payments related to winter storm Kyrill not to exceed $150 million before tax.” Zurich noted that the “estimate is well within the Group’s net retention for …
Bermuda’s Allied World Assurance Company Holdings, Ltd. reported net income of $128.4 million, or $2.04 per diluted share, for the fourth quarter 2006 compared to a net loss of $12.3 million, or $0.24 per diluted share, for the fourth quarter …
The Bermuda-based Arch Capital Group Ltd. has reported net income available to common shareholders for the 2006 fourth quarter of $239.3 million, or $3.12 per share, compared to $100.9 million, or $1.34 per share, for the 2005 fourth quarter. For …
Standard & Poor’s Ratings Services announced that it has withdrawn its “AA-” long-term counterparty credit and insurer financial strength ratings on U.S.-based GE Reinsurance Corp. S&P said it took the rating action following “the company’s merger with Swiss Reinsurance America …
Standard & Poor’s Ratings Services announced that it has affirmed its “AA-” long-term counterparty credit and insurer financial strength ratings on Italy’s Toro Assicurazioni SpA with a stable outlook. S&P also lowered its long-term counterparty credit and insurer financial strength …
Florida Chief Financial Officer Alex Sink issued an emergency rule prohibiting public insurance adjusters from collecting fees on contracts with policyholders whose homes were destroyed earlier this month by tornadoes if there is no dispute with the insurance company that …
Insurance companies are seeking to invalidate an emergency rule adopted last month by the Florida Financial Services Commission that restricts their right to price and drop homeowners policies. The rule, 690ER07-01, prohibits all insurance company rate increases, even if lawfully …