Monthly Archives: <span>June 2010</span>

Documents Show Possible Violations at New Hampshire Gun Plant

Court documents regarding a deadly explosion at a New Hampshire gun and ammunition plant indicate evidence of possible violations concerning the storage, manufacturing and handling of explosive materials. The Caledonian-Record reports the state fire marshal’s office received two search warrants …

Judge: Policy Didn’t Cover Chinese Drywall Damage

An insurance company doesn’t have to pay for damages at a Virginia man’s home ruined by Chinese-made, sulfur-emitting drywall, a decision by a federal judge Thursday that could affect how lawsuits by thousands of U.S. homeowners are settled. Judge Robert …

Ratings Recap: Builders Group, FMH Group, MAG Mutual, Nationwide (Fla.)

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Builders Insurance Group and its three pooled members: Builders Insurance (A Mutual Captive …

Ratings Roundup: Wentworth, Gulf Re

A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Barbados-based Wentworth Insurance Company Limited, an indirect, wholly owned subsidiary of Fairfax Financial Holdings Limited, and has assigned a stable …

Best Affirms Horace Mann and Subsidiaries ‘A-‘ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the P/C group, Horace Mann Insurance Group, its members and the life/health insurance company, Horace Mann Life Insurance Company. …

S&P: AIG Ratings Unchanged after AIA Deal Fails; Outlook Negative

Standard & Poor’s Ratings Services announced that its on American International Group Inc. , currently ‘A-‘ – Negative – debt ‘/A-1,’ and its insurance subsidiaries (most of which are rated A+/Negative/–) are not affected by the company’s announcement that it …

Infinity Insurance Selects Leads360 to Provide Lead Management for Independent Agents

Infinity Auto Insurance has announced the addition of Leads360 to its Infinity Perks Web site, where Infinity’s appointed independent agents will now have access to Leads360’s lead management software and expertise at a reduced price. Leads360 was selected as a …

After Child Fatality, Ohio Lawmakers Push for School Bus Seat Belts

State lawmakers say a school bus crash that killed an eastern Ohio kindergarten student has given new urgency to a proposal requiring seat belts on school buses. Six-year-old Kasey King of Frazeysburg died June 2 when a bus went off …

Recent Colorado Storm Caused Estimated $70M in Insured Damage

The first major Colorado hail and wind storm of 2010 carries an estimated insurance price tag of $70 million, according to the Rocky Mountain Insurance Information Association (RMIIA). Approximately 13,600 auto and homeowners insurance claims have been filed since baseball-sized …

County Justices in Arkansas Vote Against FEMA-Mandated Program

Mississippi County, Ark., justices have rejected a measure that would create a flood-damage prevention program that the Federal Emergency Management Agency says the county needs. The justices voted 8-2, with one abstention, against the proposal during a special meeting held …