A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Bermuda-based Arch Reinsurance Ltd. and its reinsured affiliates. Best also upgraded the ICR to “bbb” …
Swiss Re’s Commercial Insurance group has introduced Errors and Omissions (E&O) agency umbrella coverage in all 50 states and the District of Columbia. “The insurance policy offering was developed in conjunction with the Independent Insurance Agents & Brokers of America …
Mississippi officials arrested four more people in Hurricane Katrina fraud cases. Auditor Stacey Pickering says James Hodge of Wiggins, 45, of Mississippi, is facing a felony charge of home repair fraud. Pickering says Hodge received $10,000 for work he never …
Insured losses from the strong winds and large hail that pummeled Austin, Texas, on the night of May 14 may rise to $50 million, the Insurance Council of Texas reported. Claims from damaged homes and automobiles continue to come in. …
Insured losses from severe storms on April 17 that hammered areas west of Fort Worth, Texas, with softball size hail now exceed $200 million, the Insurance Council of Texas reported. An estimated 33,000 homeowner claims and 21,000 automobile claims have …
Buying insurance is a critical part of being in business for a small company, but it’s often either overlooked or given short shrift. In the process, owners can leave their businesses vulnerable to huge payouts for something as mundane as …
New York-based Mutual Marine Office Inc. said it has acquired from Excel Underwriters Alliance Inc. a book of professional liability insurance covering insurance agents, brokers and related professionals. Excel is an underwriter specializing in errors and omissions insurance. Its founder, …
New York, NY- March 20, 2008: Pacific Underwriters announced that it has partnered with Darwin Professional Underwriters to place management liability insurance for private company and not-for-profit risks utilizing Darwin’s (i-bind)® technology system. Pacific Underwriters will offer directors and officers …
Illinois Insurance Director Michael McRaith recently announced a statewide effort to enforce Illinois’ statutes regarding certificates of insurance and warns producers and companies that violations can result in significant penalties. “The issue of amending or altering certificates of insurance that …
San Diego, CA, 03/06/2008 – ARROWHEAD General Insurance Agency, Inc. has announced its independent property and casualty insurance agents errors and omissions product will be underwritten with an “A” (XIII) rated carrier by A. M. Best Company. Offered nationwide, it …