XL Capital Ltd announced that Rich Banas will become the new CEO of XL Environmental and XL Programs, succeeding William Kronenberg III, who is taking early retirement from the Company to pursue personal interests. Banas is the current Executive VP …
A report from the Associated Press highlights the significant rise in the number of fires that have struck factories on Taiwan and mainland China, many of which have been of suspicious origin. The article discusses the connection between rapidly increasing …
A.M. Best Co. assigned initial debt ratings to the existing debt of Cincinnati-Ohio-based American Financial Group Inc. Included is the assignment of a “bbb” to American Financial Group Inc.’s senior debentures and the extension of indicative ratings of “bbb” senior …
Royal & SunAlliance USA of Charlotte, N.C. has promoted Vince Pugliese to president and chief operating officer of its commercial insurance division. Prior to his promotion, Pugliese served as executive vice president of that same division. He succeeds Steve Mulready, …
Georgia Insurance Commissioner John Oxendine has revoked the licenses of two Savannah insurance agents convicted of fraud. William Knight III and Varnedoe Hancock were indicted on fraud charges after Hancock allegedly sold a $2.5 million policy to the Savannah-Chatham County …
Houston-based HCC Insurance Holdings, Inc. announced a strategic alliance between its subsidiary, U. S. Specialty Insurance Company (USSIC) and SureTec Financial Corp. (SureTec), a Houston based property and casualty insurance holding company whose subsidiaries specialize in underwriting contract and commercial …
State Farm Insurance Co. announced it would stop writing new auto policies in Louisiana, and would also request a 16 percent rate increase to generate more than $150 million to offset losses. According to A.M. Best and The Times-Picayune, the …
California-based King Insurance recently forwarded a notice to all of its producers, informing them that the company’s homeowners, renters and condo policies showing renewal effective dates of Aug. 8, 2002 and later would not be renewed The company said it …
Warrantech Corporation, a provider in administering service contracts and extended warranties, has signed a five-year agreement with Royal & SunAlliance USA, the U.S. operation of London-based Royal & SunAlliance Insurance Group. Under the terms of the agreement, Warrantech will administer …
Michael Boutot, director of Litigation Management at Crawford & Company, was recently named president of the National Association of Insurance Litigation Management (NAILM). Boutot was nominated by outgoing NAILM President, Quintin King, and will take office effective immediately. Boutot has …
