Standard & Poor’s assigned its “R” financial strength rating to Associated Physicians Insurance Co. (APIC). APIC was declared insolvent and placed into liquidation on Aug. 16, 2001, by the Circuit Court of Cook County, Ill. The agreed order was granted …
Helped by recent acquisitions, QBE Insurance, Australia’s second largest general insurer after NRMA, posted a strong 56 percent gain in interim net profits to A$122 million (U.S.$64.4 million) for the first half of the year. QBE became one of the …
Lloyd’s of London yesterday confirmed previously published reports that it would have losses exceeding $3 billion for the years 1998-99 with a projected loss in 1999 of nearly $2 billion. 2000 figures are expected to show some improvement with losses …
While reports continue to come in that the investment group headed by American International Group and WL Ross are still talking with Hyundai Securities and Hyundai Merchant Marine, the Korean broker’s largest shareholder, no breakthrough has been announced. AIG’s proposal …
Judge Frederick J. Scullin, who presided over the trial of Albert W. Lawrence for fraud connected with several insurance companies he controlled in upper New York State, granted the convicted felon a two-week postponement before he must begin serving a …
Pennsylvania Insurance Commissioner Diane Koken announced that her Department has introduced a system to enable insurance companies to “submit filings for many lines of commercial insurance over the Internet through Pennsylvania’s award-winning PA PowerPort.” Called the “System for Electronic rate …
On Aug. 24, the American Insurance Association (AIA) testified before the Colorado Commission on Taxation, urging the group to consider a proposal that would provide insurers with a credit against premium taxes for salaries paid to Colorado-based insurance company employees. …
At its Board meeting in Atlanta, Ga., the National Auto Agents Alliance (NAAA) accepted an application for affiliation from the Latin American Agents Association (LAAA). The LAAA is a three-year-old organization headquartered in Los Angeles, Calif. LAAA President Andre Urena …
idNet announced that it has signed an integration agreement with AMS Services. The scope of the agreement allows for idNET and AMS to work cooperatively to develop integration between idNET’s 24/7 Internet-based CSR24 product and AMS’ strategic agency management systems. …
It doesn’t matter how much advance notice they get from the state motor vehicle departments — many insurance companies hold off until the last minute before considering how they will comply with automobile liability reporting requirements. About 20 states now …
