A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit ratings (ICR) of “a-” of New Zealand’s Farmers’ Mutual Insurance Association (FMIA) and its core subsidiary, FMG Insurance Limited (FMGIL), collectively known as …
Standard & Poor’s Ratings Services and A.M. Best Co.both published their respective reactions to the The Hanover Insurance Group’s acquisition of Professionals Direct Insurance Company. S&P affirmed its “BB+” counterparty credit and senior unsecured debt ratings and its “B+” preferred …
While 33 percent of auto insurance consumers who shop because of price ultimately switch carriers, nearly 75 percent of those who shop because they have experienced poor customer service switch carriers, according to the J.D. Power and Associates 2007 Insurance …
No pair of pants is worth $54 million. A judge rejected a lawsuit that sought that amount by taking a South Korean dry cleaner’s promise of “Satisfaction Guaranteed” to its most legalistic extreme. Roy L. Pearson became a worldwide symbol …
Come clean, one lawmaker demanded of ex-EPA chief Christie Whitman. Tell us the truth about the health dangers in the air around ground zero, said another. Yet for three hours at a congressional hearing Monday — and for nearly six …
U.S. safety officials have ordered a New Jersey tire importer to recall as many as 450,000 tires that it bought from a Chinese manufacturer and sold to U.S. distributors. Foreign Tire Sales Inc., of Union, New Jersey, said an unknown …
A.M. Best Co. has placed the financial strength rating (FSR) of “A-” (Excellent) and issuer credit ratings (ICR) of “a-” of New York-based CastlePoint Insurance Company (CPIC) and Bermuda’s CastlePoint Reinsurance Company, Limited (CPRe) under review with negative implications. Best …
The UK Treasury Department has officially handed over authority for regulating “travel insurance sold with a holiday or related travel” to the UK’s Financial Services Authority.’ The not unexpected decision (Discussions have been going on for some time – See …
A.M. Best Co. has downgraded the financial strength rating to “B+” (Good) from “B++” (Good) and the issuer credit rating (ICR) to “bbb-” from “bbb” of Western Isles Insurance Company Limited (WIICL), which is based on the Isle of Man. …
Although no official estimates have yet been made, the recent floods in the UK will be costly. Four persons perished as heavy rains caused rivers to overflow and stranded travelers across Northwestern England, Wales and Northern Ireland. Maurice Fitzpatrick, business …