On Aug. 28, 2000, the financial strength rating of Amwest Group was downgraded from “A-” (Excellent) to “B” (Fair) by A.M. Best Co. The downgrade, applicable to Amwest Surety Insurance Company and its wholly owned subsidiary, Far West Insurance Group, …
The “BBBpi” financial strength rating on Philadelphia-based Pennsylvania Lumbermens Mutual Insurance Company was affirmed by S&P. The company, which writes mainly fire, commercial, multiple peril, allied lines and commercial auto for the lumber and woodworking industries, is licensed in 35 …
The “Api” financial strength rating on San Diego-based Wawanesa Mutual Insurance Co. (U.S. branch) was affirmed by S&P. Key factors in the rating action include the company’s strong capital position and excellent profitability, which were partially offset by volatility in …
The financial strength rating of Unitrin Property and Casualty Insurance Group, a wholly owned subsidiary of Unitrin Inc., was lowered from “A++” to “A+” by A.M. Best Co., reflecting a downturn in the group’s operating earnings as well as Best’s …
“AA-” counterparty credit and financial strength ratings were assigned to the property/casualty carrier, American Family (AFMIG) by S&P. Also affirmed was the “A-1+” commercial paper rating on American Family Financial Services Inc., which is guaranteed by AFMIG. The outlook is …
The “Bpi” financial strength rating on Corpa Reinsurance Company was affirmed by S&P. The company wrote property and casualty treaty reinsurance on fire and commercial multiple lines peril. However, effective, Sept. 1, 1987, it ceased writing new and renewal business. …
The outlook of Zurich Financial Services (ZFS), the Switzerland-based holding company of the ZFS Group, was revised to stable from negative by S&P. Key factors in the rating action included the group’s improved nonlife operating performance and successful reduction of …
Paul Franklin Ostrove, the Hermosa Beach resident who crash-landed his plane at Daniel Webster Junior High School in Los Angeles on Aug. 16, 1998, has been convicted and sentenced to five years of felony probation and ordered to pay more …
On Aug. 29, former attorney Manny Lee Kreitenberg of Beverly Hills was sentenced to 10 years in state prison on one felony count of conspiracy to commit insurance fraud and 13 counts of insurance fraud. In addition, the 45-year-old man …
Following a two-month investigation by the CDI Fraud Division, Mohammad Asif Atebar was arrested for insurance fraud. According to investigators, the 23-year-old filed a total loss claim for his 1989 Honda Prelude, which was allegedly stolen and burned. He claimed …
