A.M. Best announced that it has downgraded the financial strength ratings to A (Excellent) from A++ (Superior) for Allianz Insurance Company of Canada and its affiliated company, Trafalgar Insurance Company of Canada, collectively referred to as Allianz Canada. “These rating …
Cox Insurance, a leading Lloyd’s underwriter and retail insurer, announced that additional claims from the WTC disaster have raised its loss estimates from £67 million ($96.5 million) to between £85 million and £125 million ($122.5 million and ($180 million). The …
In a move that reverses the “bancassurance” model Independent Insurance Agents in Massachusetts, New Hampshire and Rhode Island can now offer customers an array of automobile, home improvement and other consumer loans from Boston-based Eastern Bank. Through the Independent Advantage(R) …
Penn-America Group, Inc. (PAG) reported operating income of $2.1 million or $0.27 per share (basic and diluted) for the fourth quarter of 2001, the fifth consecutive quarter with positive results, giving it a total net operating income for the year …
Investigators from the California Department of Insurance (CDI) Criminal Investigation Branch’s Fraud Division arrested a San Bernardino man on seven counts of workers’ compensation insurance fraud. According to the CDI, Juan Carlos Garcia, 33, was booked into the San Bernardino …
Fair, Isaac and Company, Inc. a global provider of customer analytics and decision technology, announced that Mutual of Enumclaw Insurance Company, a Seattle-area based insurer with operations in Washington, Oregon and Idaho, has purchased Fair, Isaac Decision System ™ software …
Automatic Data Processing, Inc. Claims Solutions Group (ADP) has announced a web-based version of its ADP Database Reference Manual available for free at www.ADPClaims.com/DatabaseManual.html. ADP Claims Services Group is a subsidiary of Automatic Data Processing, Inc., and is a provider …
According to Business Wire, A.M. Best Co. is making available Best’s State Rate Filings — Express Delivery, a new downloadable Portable Document Format (PDF) version of the print edition of Best’s State Rate Filings™. Included in the program are searchable …
A report in P.R. Newswire said the U.S. property & casualty insurance industry — suffering from declining investment returns and unprecedented claims from the Sept. 11 terrorist attacks — could retain $30 billion annually through aggressive transformation of the way …
Proposed laws that severely limit or ban the use of credit-based insurance scoring-which could result in higher rates for most consumers — are gaining momentum in the Indiana Legislature. Senate Bill 409, which would severely limit insurance companies’ use of …
