Gary Mendoza, Republican nominee for California Insurance Commissioner, expressed concern over State Farm General Insurance Co.’s announcement that it will no longer accept new homeowners business in the state. “The strength of the homeowners insurance market in California impacts all …
Insurance professionals who have passed exams administered by the American Institute for CPCU and the Insurance Institute of America (AICPCU/IIA) can now gain credit for those exams in the University of Phoenix’s undergraduate business and management degree programs. Students must …
Standard & Poor’s has affirmed its single-‘A’-minus long-term counterparty credit rating on St Paul Cos. Inc. following the company’s announcement of first-quarter 2002 pretax operating earnings of $233.8 million and net income of $139.3 million. Standard & Poor’s also has …
Frank Coyne, president and CEO of New Jersey-based Insurance Services Office (ISO), feels that independent agents’ biggest challenge in 2002 is sending the message to policyholders that the market is stable despite the catastrophic events of 9/11. “We learned from …
Chicago-based InsuranceNoodle, a distributor of small business insurance through independent insurance agencies, has been selected by Brown & Brown Inc. to distribute that company’s Lawyer’s Protector Plan® professional liability insurance product for attorneys. Brown & Brown has been offering the …
Cincinnati Financial Corporation, a holding company whose primary business is property and casualty insurance, reported increases in both net operating income and revenues for the three months ended March 31, 2002, over the same period last year. Net operating income …
The Chubb Group announced that it has opened a new office in Melbourne, Australia, “to further support the growing demand for political risk insurance in the Asia/Pacific region.” The office is the third specializing in political risk that Chubb has …
W.R. Berkley will up its share in Lloyd’s insurer Kiln to 20 percent by acquiring 32.8 million newly offered shares in the company at 47 pence (68 cents) and the acceptance of a two-for-three rights issue at the same price. …
The St. Paul Companies announced plans to transfer its ongoing reinsurance operations to a newly-formed Bermuda-based reinsurer, Platinum Underwriters Holdings, Ltd. which intends to make a public offering of 75.1 percent of its common shares in order to raise approximately …
Germany’s Allianz announced the launch of “a new product addressing the need of airlines for a solution regarding their exposure to terrorism and war third-party legal liability.” The policy, which will be available through Allianz “together with a panel of …
