Contrary to the position taken by A.M. Best and Moody’s Investors Service, Fitch Ratings has revised CNA Financial Corporation’s rating outlook to negative from stable. However, Fitch affirmed the Issuer Default Rating (IDR) at ‘BBB+’; the Senior debt at ‘BBB’, …
Louisiana experienced a loss of 17,500 jobs in the seasonally adjusted number of nonfarm jobs from August to September 2008, the Louisiana Workforce Commission announced recently. However, the September nonfarm job total of 1,939,300 people working represents an increase of …
Managing expectations, showing empathy, ensuring convenient service and effective communication are key themes in enhancing overall insurance customer satisfaction with the claims process, according to the J.D. Power and Associates 2008 Auto Claims Satisfaction Study. The study measures the experiences …
A total of 252,784 nonfatal injuries and illnesses were reported by private industry workplaces in Texas during 2007, the Texas Department of Insurance reported. The resulting rate of 3.4 cases per 100 equivalent full-time employees marks a five-year low. The …
The U.S. Department of Housing and Urban Development is giving monies to several Midwestern states in the aftermath of flooding earlier in the year. Missouri received $11 million to help recover from flooding damage earlier this year. Flooding in May …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of the Delaware-based Darwin Group and its members. Best also removed the ratings from under …
Zurich Financial Services Group announced that, based on preliminary estimates, it expects aggregate claims payments related to hurricanes Gustav and Ike of approximately $600 million before tax. Zurich said the figure is “net of reinsurance recoverables and includes reinsurance reinstatement …
American International Group, the insurance giant rescued by $85 billion in federal loans last month, has agreed to an $18 million settlement with the father of a disabled former Raleigh man. AIG’s decision to conclude the settlement with accident victim …
A Mississippi man and a Missouri woman have been found guilty in federal court on charges of Hurricane Katrina-related fraud. A jury found William C. Breland Jr. of Pass Christian guilty of six counts of fraud against the Federal Emergency …
Bermuda’s RenaissanceRe Holdings reported an operating loss attributable to common shareholders of $143.4 million for the third quarter of 2008, compared to operating income available to common shareholders of $167.8 million in the third quarter of 2007. RenRe noted that …