Editor’s Note: This article was written by Standard & Poor’s analyst Darin Feldman, and is printed with permission. In its 1998 annual report “Survival of the Fittest,” Superior National Insurance Group vividly depicts a treacherous, competitive workers’ compensation market that …
The Hub Group Ltd., based in Toronto, has signed a letter of intent to acquire C.J. McCarthy Insurance Agency of Boston, Mass. The agency was founded by the McCarthy family in 1867 and has annual commission revenue of roughly $12 …
A Massachusetts insurance agent was sentenced to three years probation and a fine of $40,000 Wednesday for his role in a in a plan to reduce workers’ comp insurance premiums for a rubbish collection company owned by a favored customer. …
In its campaign to attract more consumers to its site, YouZoom.com is offering California consumers a chance an all expense paid trip to Hawaii. Consumers that go their site and follow the 1-2-3 prompt to a local agent/broker’s web site, …
Duff & Phelps Credit Rating Co. has made several ratings changes for Fremont General Corp. Fremont’s senior debt rating were lowered from BBB to BBB- while the preferred securities of Fremont’s subsidiary Fremont General Financing I were raised from BBB- …
Vesta Capital Insurance Syndicate Inc., a wholly owned subsidiary of Vesta Insurance Group of Birmingham, Alabama, was approved by the INEX Board of Trustees and Illinois Department of Insurance prior to year-end. Vesta Capital Insurance Syndicate was initially capitalized at …
Amid pressure from the banking industry to regulate insurance on the federal level, state insurance regulators are considering a move that would allow some insurers to be treated as if they have a federal charter. The plan would permit such …
California voters overwhelmingly rejected Propositions 30 and 31, referendum which were added to the March 7 ballot in response to last year’s passage of the California Fair Insurance Responsibility Act. By voting “No” on Prop. 30, voters rejected restoration of …
A Dallas couple has been awarded $11.2 million in damages on claims that Cincinnati-based insurer Great American Life Insurance Company was guilty of fraud and misrepresentation. Jack and Kathran Martin, who worked as managing general agents for Great American Life, …
A recent decision from the Oregon Supreme Court expands coverage for most Oregon homeowners policies to include pollution liability exposure. The original decision in November 1999, in the case of Fleming v. USAA, ruled that a policyholder whose tenants were …
