The RAND Institute for Civil Justice (ICJ) began analyzing asbestos litigation in the early 1980s in a study that was the first to examine the costs and compensation paid for asbestos personal injury claims. Other reports followed, tracking what is …
Standard & Poor’s took rating actions on Acceptance Insurance Companies Inc. (AICI) and its insurance operating subsidiaries. S&P downgraded American Growers Insurance Co. (AGIC) because of declining earnings and uncertain prospects for recovery in the near term. Acceptance Insurance Co. …
An Illinois company was declared insolvent and placed into liquidation by the Circuit Court of Cook County, Ill. Associated Physicians Insurance Co. (APIC) of Oak Brook has been in runoff since 1995, and has not written new business since January …
The U.K.’s Financial Services Authority, which regulates Britain’s insurance industry, took further steps recently to assure the viability of travel insurance policies issued by U.K. companies and brokers. Following the announcement last May by Lloyd’s that policies issued by The …
Aquila, Inc., the Kansas City-based energy and risk management company, announced that it has entered into a partnership agreement with Australia’s Macquarie Bank to begin marketing weather derivative products there and in New Zealand. The company, a division of UtiliCorp …
The decision on August 10th by the 7th Circuit Court of Appeals in favor of Lloyd’s and other London-based underwriters found them not liable for an additional $100 million in settlement payments arising from flooding in downtown Chicago in April …
The fight for control of the assets of Reliance Insurance Co.(RIC) between the Pennsylvania Department of Insurance, which took over administration of the company last June, and the other creditors and investors of its parent company, Reliance Group Holdings (RGH), …
Pennsylvania Insurance Commissioner Diane Koken announced that the State’s Commonwealth Court granted the Department’s petition to place PHICO Insurance Company of Mechanicsburg under rehabilitation. The move was triggered when PHICO, which specializes in medical malpractice coverage, filed a late quarterly …
A trial involving the Idaho State Insurance Fund has been put on hold until December, according to a report in the Spokesman Review. To be determined is whether 26,000 Idaho businesses will receive damages for how the fund managers bought …
A.M. Best Company reaffirmed Workers’ Compensation Fund’s “A-” rating. According to A.M. Best, the rating reflects the mutual insurance company’s excellent financial strength, strong reserving practices and dominant market position. Best reports that the rating also acknowledges WCF’s unparalleled local …
