A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Intact Insurance Group and its members: Belair Insurance Company Inc. (Montreal, Quebec), Intact Insurance Company, Novex Insurance Company, The Nordic …
Industry representatives say insurance companies likely will pay out more than $1 billion for property damage sustained during a stormy month of May in Oklahoma. An estimate by ISO’s Property Claims Services unit, which tracks catastrophic insured losses, is that …
The Arkansas Supreme Court has affirmed a lower court order certifying class action status in a case involving an insurer’s depreciation practices in property claims against “actual cash value” homeowners policies. In Farmers Union Mutual Insurance Company v. Randall and …
Final insurance damage estimates for Colorado’s 2009 summer storm season has been tallied at $1.4 billion, making it the most expensive in state history, according to the Rocky Mountain Insurance Information Association. According to the association’s figures, one July storm …
The Hartford marks 200 years in business today, a commemoration recognized at the New York Stock Exchange this morning as CEO Liam E. McGee and CFO Christopher J. Swift rang the opening bell. “The company has played a critical role …
Just one after storms swept through South Carolina, insurance companies were reporting an estimated $4.4 million in damages as a result of hail and wind. Insurance companies reported receiving 1,768 claims as of Tuesday afternoon. A total of 491 homeowner/property …
Homeowners insurance customers who file a property claim are much less satisfied with their claims experience than auto claimants, according to a new study. The satisfaction level of homeowners claimants is significantly lower than that of auto claimants, says J.D. …
LOS ANGELES – City of Hope’s National Insurance Industry Council (NIIC) will honor James L. Weidner, chief executive officer of Cooperative of American Physicians Inc. (CAP), with The Spirit of Life® Award, City of Hope’s most prestigious philanthropic honor. Weidner …
Unless you live in Florida or Louisiana, or regularly read the Insurance Journal, you may only now being hearing about the latest mass tort craze: Chinese-Manufactured Drywall (often simply referred to as “Chinese Drywall”). The property damage and personal injury …
LOS ANGELES – City of Hope’s National Insurance Industry Council (NIIC) will honor James L. Weidner, chief executive officer of Cooperative of American Physicians Inc. (CAP), with The Spirit of Life® Award, City of Hope’s most prestigious philanthropic honor. Weidner …