Standard & Poor’s assigned its “R” financial strength rating to Frontier Insurance Co. after the New York State Insurance Department and Frontier reached an agreement for Frontier to enter into voluntary rehabilitation. By a vote of the Board of Directors, …
A.M. Best Co. downgraded the financial strength rating of CNA Reinsurance Co. Ltd., London, to “B+ ” (Very Good) from “A-” (Excellent). The company remains under review with developing implications. According to A.M. Best, the action follows uncertainty surrounding the …
Standard & Poor’s announced that it had raised the counterparty credit and financial strength ratings on Latin American Reinsurance Co.,Ltd. (LARe) to double-‘A’ from single -‘A’-minus and removed them from CreditWatch, where they were place on January 24, 2001, with …
The provisional liquidators at PricewaterhouseCoopers, Mark Batten and Daniel Schwartzmann, announced that they have established Aurora Corporate Services as a wholly-owned subsidiary of Independent Insurance to act as a run-off company to marshall the assets and pay the outstanding claims …
The latest “sigma” report from Swiss Re, “Insurance markets in Asia: sanguine outlook despite short-term uncertainties,” outlines current and future trends in Asia’s $600 billion insurance market. It notes that life insurance prospects are particularly good in the region. The …
Selective Insurance Group, Inc. of Branchville New Jersey announced the appointment of Michael L. Williams, CPCU as Senior VP of its personal lines insurance operations. Williams most recently served in senior level positions at AIG’s international operation and at Harleysville …
Representatives of the insurance industry, state regulators and the general public met yesterday at the first of two scheduled public hearings to consider a 7.8 percent increase in Massachusetts auto rates insurers are seeking. The industry had sought a 2.5 …
The California Assembly Judiciary Committee approved a controversial financial privacy bill on a partisan vote of 7 to 3. The measure, SB 773 sponsored by Senator Jackie Speier (D-Hillsborough), would create an “opt-in” system for information sharing with third parties, …
Positive aspects of how the use of credit scores in insurance underwriting benefits consumers were demonstrated to Colorado state legislators this week. Among the points presented at a financial responsibility forum sponsored by the National Association of Independent Insurers (NAII) …
In seven western fire-prone states, just eight large property and casualty insurers are exposed to 74.5 percent of the home insurance risk, according to a recent analysis by Weiss Ratings Inc., a provider of independent insurance company ratings and analyses. …
