Lloyd’s of London announced that it has completed the transfer of over $5 billion to its trust funds in the United States since September 2001, and has fulfilled the arrangement made with the National Association of Insurance Commissioners to fully …
A.M. Best Co. announced that it has lowered the financial strength rating to B+ (Very Good) from B++ (Very Good) for AF&L Insurance Company of Warrington, Pennsylvania with a stable outlook. Best explained that its action “reflects the significant operating …
A.M. Best Co. has lowered the financial strength rating to A- (Excellent) from A (Excellent) for California-based Crusader Insurance Co., Woodland Hills, Calif., and assigned it a negative outlook. The rating action follows A.M. Best’s review of the company’s fourth-quarter …
Standard & Poor’s has assigned its ‘R’ financial strength rating to National Automobile & Casualty Insurance Co. after learning that California Insurance Commissioner Harry W. Low put the company into conservation because of its insolvency. National Auto’s Dec. 31, 2001, …
CalFarm Nationwide Insurance has been ordered to pay $2.6 million to a former Sacramento resident after a jury found the company guilty of allegedly deceiving the man into relocating to California to take on a position, only to fire him …
Docucorp® International, a provider of enterprise information solutions, announced a marketing agreement with AscendantOne(TM) Inc., architects of next generation front office insurance technology. Through this marketing partnership and lead referral relationship, the companies will provide property and casualty providers with …
Travelers’ Property Casualty Corp. announced the $5 billion earnings as a result of its record-breaking IPO and bond sales offered last week, the largest of any U.S. insurer, according to Reuters Securities. The Citigroup Inc. spin-off said IPO underwriters exercised …
Fitch Ratings has assigned various ratings to Marsh & McLennan Companies, Inc. (MMC), including a ‘A+’ senior debt rating and an ‘F1’ commercial paper rating. The Rating Outlook is Stable. The ratings reflect MMC’s strong business profile that includes leading …
A bill approved by a Missouri House committee that would impose a surcharge on auto insurance policies to finance a police chiefs and officers retirement fund is discriminatory, according to the National Association of Independent Insurers (NAII). NAII counsel Ann …
The Michigan Catastrophic Claims Association (MCCA) Board of Directors announced it has lowered the assessment that the state’s motorists pay for their unique auto insurance unlimited medical benefits. Beginning July 1, motorists will pay $69.00 for the twelve-month period ending …
