Nuts & Bolts: Cascade/Amstar has available a program for miscellaneous E&O including service and technical professional liability. Available are many custom forms designed specifically for particular businesses. E&O form with GLÑclaims made/occurrence available. Service and technical professional application and policy …
Does your firm sell insurance or is it a firm that provides professional insurance services? That is not a trick question, it is a mater of focus and approach. Sure, we all say that we are professionals in what we …
A.M. Best Co. has assigned a “B++” financial strength rating to Louisiana Retailers Mutual Insurance Co. (LRMIC), a Baton Rouge, La.-based workers’ compensation insurance provider. The outlook is stable. LRMIC’s solid capitalization, operating performance, investment portfolio, and policyholder retention were …
Standard & Poor’s cut to double-“Bpi” from triple-“Bpi” its counterparty credit and financial strength ratings on Casualty Reciprocal Exchange’s interaffiliate pool members Equity Mutual Insurance Co. (EMI) and Casualty Reciprocal Exchange. The action was taken because of a decline in …
A.M. Best raised Dallas-based American Contractors Insurance Group’s (ACIG) financial strength rating from “A-” to “A.” The rating was based on the financial condition and performance of all of ACIG’s operating units, including American Contractors Insurance Group Ltd. in Bermuda, …
Homeowners insurance rates have risen by average of 8 percent nationwide in 2002 due to an extraordinary number of catastrophes, the high cost of home repairs and excessive jury awards in mold cases, according to a new report by the …
A federal bankruptcy court ruled that Dallas businessman Aharon Chen and A.C. Painting Inc., his now-bankrupt company, defrauded more than $3 million from Texas Mutual Insurance Co., a workers’ compensation provider. Chen was ordered to pay $1.3 million and attorney’s …
Indicating it is seeking a 16 percent rate increase for auto policies in Louisiana, State Farm Insurance Co. has stopped writing new auto policies in that state. The company estimates that the rate increase would generate over $150 million to …
District Court Judge Lee H. Rosenthal sentenced Houston attorney Bernardo Eureste to three years probation for workers’ compensation fraud-related charges, according to Texas Mutual Insurance Company. Eureste, a former member of the San Antonio City Council, must also pay $108,486 …
Professionals seeking to attain Certified Insurance Counselor (CIC) designation now have a new option. A Certified Risk Managers (CRM) course will now be accepted in place of one of the five CIC institutes and examinations that are currently required. The …
