The National Association of Independent Insurers testified Feb. 14 in favor of Senate Bill 4 before the Nevada Senate Committee on Commerce and Labor. Under SB 4, an auto or homeowners insurer must file its rates with the insurance commissioner, …
Search warrants were executed at more than 10 locations in California in the past two weeks, according to the California Department of Insurance Criminal Investigations Branch. Investigators were hunting for evidence of unlicensed insurance products being sold in California, specifically …
The property/casualty industry could return capital to its stakeholders without risking rating downgrades or insolvency, according to A.M. Best Company, which is conducting an ongoing analysis of risk-adjusted capitalization in the industry. However, this “decapitalization” would do little to boost …
Hurricane forecaster William Gray predicted Wednesday during the Windstorm Insurance Conference in Orlando, that the nation’s East Coast, particularly Florida, was at the beginning of a period of more frequent hurricane strikes. Gray, a professor of atmospheric science at Colorado …
French life insurer CNP Assurances has entered Brazil’s fast-growing insurance market with a deal to buy a controlling share of Sasse for $535 million. CNP agreed to buy a 50.75 percent stake in Caixa Seguros (Sasse) from Funcef, the pension …
XL Capital Ltd has agreed to purchase Winterthur International from Winterthur Insurance, a subsidiary of the Credit Suisse Group. The all-cash transaction is valued at approximately $600 million and will be funded by XL out of current resources. Winterthur International …
New Jersey bank, YNB Financial Services has signed marketing agreements with three independently-owned insurance agencies, Borden-Perlman Insurance Agency, Nottingham Insurance Agency and Princeton Assurance Corporation have agreed. All three agencies are family owned, and each one will have a separate …
ABD Insurance and Financial Services, a provider of global risk management and employee benefits solutions, has promoted Jennifer Milstein to vice president of its Association Services Division. Milstein oversees the company’s Redwood City-based association practice, a division providing specialized insurance …
Sherwood Insurance Services formed an alliance with TruSecure Corporation to provide both Sherwood’s e-insurance solution and TruSecure’s Internet security assurance solutions to brokers and insureds. The partnership will combine the benefits of e-insurance services through the proprietary Sherwood facility, e-Sher …
Insurance Management Solutions Group, a provider of business process outsourcing solutions serving insurance companies and financial institutions, announced that it has cut 53 jobs, constituting approximately 10 percent of its total workforce. The reductions will represent savings of approximately $1.7 …
