Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate guarantees,” explained credit analyst Rodney Clark. “The guarantees had provided the basis for …
A.M. Best Co. has commented that the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of ING Canada Group (the Group) are unchanged following the announcement by ING Canada Inc. that its major shareholder, The …
In a report entitled “A Testing 2009 For The Irish Non-Life Insurance Market, Despite Fundamental Strengths,” Standard & Poor’s Ratings Services forecast a “difficult year ahead for the Irish non-life insurance market as a result of rising claims and continuing …
Beginning Jan. 28, 2009, the California Department of Insurance’s Fraud Division (CDI) and investigators from the district attorney offices of El Dorado, Placer, Sacramento, San Joaquin, Stanislaus, and Yolo counties executed nearly 40 arrest warrants during Operation Cover Me. This …
California Insurance Commissioner Steve Poizner, local, state and federal oficials, as well as insurance industry representatives recently hosted a town hall-style Insurance Recovery Forum for Triangle Fire survivors in Yorba Linda, Calif. According to the Department of Insurance, 1,965 claims …
The accidental deaths of two teenage boys at an excavation site in 1997 were separate occurrences under the liability insurance policy of the property owner, the Illinois Supreme Court has ruled in reinstating a $2 million judgment against the insurer. …
Catastrophe bonds withstood the impact of onerous market forces in 2008, brought on by turmoil in the global capital markets, according to a new briefing on catastrophe bond market activity. The cat bond market update, published by Guy Carpenter & …
Texas Mutual Insurance Company announced an $85,112 dividend to the Texas Petroleum Marketers and Convenience Store Association (TPCA) purchasing group. The group has earned more than $214,000 in workers’ compensation dividends during the past two years, largely by controlling its …
The state of Texas has accrued $134 million in unpaid bills from emergency response to Hurricane Ike – and vendors want their money. Jack Colley, the state’s director of emergency management, told the Senate Finance Committee on Tuesday that he’s …
For the third time in less than a week a small earthquake has been recorded in Oklahoma, but geological experts say these occurrences are not uncommon or cause for alarm. The U.S. Geological Survey reported a magnitude 3.2 earthquake occurred …