Los Angeles will soon join other cities, located throughout a dozen U.S. states, that have installed red light cameras at dangerous intersections. It was announced that the first four of these cameras will be installed in Los Angeles city limits …
The Hartford Financial Services Group and Sears, Roebuck & Co., have signed an agreement to market home and auto insurance to Sears’ 60 million customers. The insurance products will be marketed under the Sears name, but the policies will be …
A racketeering lawsuit has been filed by a former New York Life Insurance Co. president on behalf of thousands of employees, alleging their pension and 401(k) plans were used as seed money for the company’s mutual fund business. James A. …
The House passed a bill Wednesday that would allow consumers and businesses to authorize contractual deals with the click of a button. The proposed E-SIGN Act, approved 426-4, provides for making digital signatures as legally binding as written ones. The …
Travelers Insurance has begun airing its new television advertising campaign as part of the company’s continued focus on the importance of its relationship with customers and independent agents. The five spots each focus on the breadth of insurance product available …
A.M. Best Co. has lowered the financial strength rating of Admiral Insurance Co. and its reinsured subsidiary Admiral Indemnity Co. Together, these companies are the flagship operation of W.R. Berkley Corp.’s specialty insurance segment. The rating reflects the reduced stand-alone …
International financial rating agency Standard & Poor’s reaffirmed Lloyd’s overall A- insurer financial strength rating, and also ranked 95 of the 123 Lloyd’s syndicates, giving 11 of them it’s highest “five bell” status. Syndicate No. 1176, managed by L.G. Cox, …
Assurances Generales de France (AGF), a majority owned subsidiary of Germany’s Allianz, has signed an agreement with leading French Web service technology provider Fi SYSTEM to work on the insurer’s web site, OKassurance.com. Fi SYSTEM will be responsible for setting …
Travelers Insurance, a unit of Citigroup, announced that it was setting up an “International Insurance Division and the appointment of Robert J. Price (49) as its president and CEO.” Commenting on the news, Travelers Chairman and CEO Jay S. Fishman …
Reaffirming its market strategy, CGNU, the company formed by CGU’s merger with Norwich Union, announced that it plans to leave the Canadian Life market in order to focus resources elsewhere. According to a Reuters report, CGNU is dedicated to being …
