SAFECO Corp. announced that wholly owned subsidiary SAFECO Select Insurance Services, based in Santa Ana, Calif., has changed its name to SAFECO Financial Institution Solutions to reflect the broader array of property and casualty insurance products and services it now …
California-based 21st Century Insurance Group reported a net loss for the year ended Dec. 31, 2001, of $27.6 million, or $0.32 diluted loss per share, compared to net income of $12.9 million, or $0.15 diluted earnings per share, for the …
The Applied Systems Client Network, Inc. (ASCnet), the user group for Applied Systems agency technology, has launched its 2002 member education effort with expanded training opportunities for agency support personnel. ASCnet’s educational opportunities include: “WinTAM Summits” – geared toward CSRs, …
New ACORD Awards will be given out at the ACORD Annual Conference this May 19-21 in Orlando, Fla. These awards will recognize companies who have either implemented ACORD standards for a particular business process to improve automation, redesigned a business …
The American Insurance Association (AIA) said it welcomes the Feb. 6 hearing on class action lawsuit reform as a positive step toward bringing balance and fairness to the American legal system. The hearing, convened by House Judiciary Chairman Jim Sensenbrenner …
The failure of energy-trading giant Enron Corp. has hit the portfolios of several insurers with investment exposures as of Sept. 30, 2001, totaling more than $3 billion, according to an A.M. Best statistical study. In total, the life/health insurance industry …
Indiana’s massive budget bill, which includes a provision that would freeze the state insurance premium tax phase-down, narrowly passed the House this week. Current law sets up a premium tax reduction schedule that provides incremental relief to insurance companies- from …
Credit scoring saves money for a majority of Minnesotans and is fair, Bob Johnson, executive vice president, of the Insurance Federation of Minnesota (IFM) testified Feb. 5 to a legislative panel considering a ban on insurers use of credit scoring. …
Standard & Poor’s announced that it has upgraded its insurer financial strength and counterparty credit ratings on New Zealand-based NRMA Insurance NZ Ltd., formerly State Insurance Ltd., to double-‘A’-plus from double-‘A’-minus and removed them from CreditWatch. S&P put the company …
Germany’s Allianz AG announced that it plans to acquire the minority interests of shareholders in its subsidiaries Dresdner Bank, Hermes and Vereinte Versicherung in a so-called “squeeze-out”. Paul Achleitner, a member of Allianz Board, who has been instrumental in rearranging …
