A.M. Best has lowered the financial strength rating of the Progressive Casualty Pool to A + from A++, reflecting the group’s downturn in its operating earnings, intense price competition in its predominant personal automobile line, increase loss reserve risk and …
Insurance Services Office Inc. has acquired IMR Corp., a leading provider of marketing information, consulting and strategic analyses to insurers, risk managers, brokers and large insurance agents. IMR provides customers with an array of products and services – as complete …
SageMaker Inc., the e-business portal solutions company, introduced the launch of the first business portal designed exclusively for the insurance industry at the Insurance Accounting and Systems Association Annual Conference and Business show in Washington, D.C. The SageWave Insurance Portal …
SAFECO entered into an agreement with Administration Associates Inc. (AAI), a wholly owned subsidiary of Association Group Insurance Administrators Inc. (AGIA), to provide malpractice insurance for attorneys in Maryland, Virginia and Washington, D.C. On July 12, AAI will begin its …
Standard & Poor’s announced several changes in ratings and outlook for insurers over the past week. Those concerning non-U.S. companies were as follows: SCOR Re: S & P took the company off the “credit watch” announced April 14. Despite disappointing …
CIGNA Corp. President and CEO H. Edward Hanway urged the U.S. Senate to approve the bill passed by the House giving China permanent normal trade relations status (PNTR). While approval by the Senate is widely expected, as there is much …
Unseasonably heavy rains over the weekend caused extensive flood damage in northeast England. “Almost 30 hours of continuous rain caused the river Calder to burst its banks, flooding the town of Todmorden. Water was eight feet deep in some places,” …
Lloyd’s Chairman Max Taylor in a speech at the annual conference of the Physician Insurer Association of America (PIAA) said that the crisis in health coverage was becoming more serious, and that insurers and health care providers must work more …
The New York State Senate Insurance Committee has given its approval to a bill that would exempt certain purchasers of commercial insurance from rate and policy form filing requirements. The bill, supported by the American Insurance Association, would create a …
Gov. Paul Cellucci has signed legislation to repeal Massachusetts’ countersignature requirement, eliminating the requirement for the countersignature of a resident agent on policies placed by nonresident agents. The American Insurance Association is leading a national effort to repeal these requirements …
