A.M. Best Co. has downgraded the financial strength rating to E (Under Regulatory Supervision) from B (Fair) for Legion Insurance Company and Villanova Insurance Company, Pa. The downgrade is tied in to the March 29 announcement by their ultimate parent …
A study by the National Association of Insurance Commissioners (NAIC) found that Wisconsin has the lowest prices for homeowners insurance in the U.S. Wisconsin insurance commissioner Connie O’Connell expects these results to be part of a long-term trend: “Insurance for …
Michigan has an opportunity to continue streamlining its rate and form filing process by adopting legislation recently introduced by Senator Bill Bullard (R-Highland), according to the National Association of Independent Insurers (NAII). This legislation (SB1213) is another step forward in …
Bermuda’s AXIS Specialty Limited announced that it has entered into a credit agreement with a syndicate of lenders for an unsecured 364 day revolving facility that allows the Company to issue up to $375 million of letters of credit and …
Spanish reinsurer Mapfre Re has joined inreon, the on-line reinsurance risk trading platform founded by Swiss Re and Munich Re in December 2000, as a new member of its panel of capacity providers. “The move further enhances the scope and …
The ongoing battle between Poland’s new government and the Netherlands-based Eureko consortium over its plan to obtain majority control of Powszechny Zaklad Ubezpieczen (PZU), the country’s largest insurer, took a new turn yesterday when Wieslaw Kaczmarek, state treasury minister, announced …
In a recent discussion of the state of the p/c insurance and reinsurance market Kenneth J. LeStrange, Chairman, CEO and President of Bermuda-based Endurance Specialty Insurance, Ltd. saw continuing challenges, but also increased opportunities for growth, especially by newer insurers, …
As part of its program of conducting forums around the state to assess the impact of Sept. 11 on the insurance marketplace, the New York State Insurance Department announced that its next forum is scheduled for Friday, April 12th in …
NY Insurance Superintendent Gregory V. Serio announced the arrest of Kevin Palmer, 25, of Rochester, on automobile insurance fraud charges. Palmer allegedly “reported on December 1, 2001 that his car had been stolen while he was visiting friends in Massachusetts …
An insurance company licensing proposal being considered by the Colorado Department of Insurance will make the process more uniform with other states, making it easier for insurers to enter the Colorado market, according to the Alliance of American Insurers. The …
