Everyday, technology becomes a bigger and bigger part of our lives. In today’s business environment, technology is perhaps the most powerful tool we have to keep customers satisfied and coming back. E-mail and Web sites are two of the most …
In efforts to not only stay a step ahead of the competition but also reduce costs in the long run, many managing general agencies are utilizing the Internet at greater lengths these days. As the nation as a whole spends …
The California Department of Motor Vehicles (DMV) is attempting to create a way to raise the rates charged for motor vehicle reports through Assembly Bill 2996. Earlier this year, the DMV attempted to raise the rates from $2 to $4 …
The California Workers’ Compensation Insurance Rating Bureau (WCIRB) recently released an updated evaluation of the cost impact due to benefit changes included in Assembly Bill 749. The bill, which was signed into law of Feb. 15, 2002, and scheduled to …
As wholesalers and managing general agents (MGA’s), we often serve our insurance retailers by offering contract programs where we have been “given the pen” and are allowed to underwrite and bind business on behalf of a carrier. We also serve …
A.M. Best Company has affirmed an “A+” (Superior) rating of Houston-based HCC Insurance Holdings Inc. group of companies, consisting of Houston Casualty Company, U.S. Specialty Insurance Company and Avemco Insurance Company. In addition, the rating for HCC Life Insurance Company …
S&P assigned its preliminary “BBB+” senior debt, “BBB” subordinated debt, and “BBB-” preferred stock ratings to Seattle-based SAFECO Corp.’s $900 million universal shelf registration, which was filed in May 2002. S&P also affirmed its ratings on the property/casualty and life …
S&P raised its counterparty credit rating on Willis Group Holdings Ltd. (Willis) to “BB+” from “BB” due to the company’s continued debt reduction and improved operating fundamentals. It also said it raised related ratings and revised the outlook to stable …
Standard & Poor’s said the outlook for Hartford Fire Insurance Co. and related property/casualty entities remains negative despite the trend toward improved earnings throughout the remainder of 2002. The negative outlook was established after the World Trade Center disaster. It …
A.M. Best Co. placed the “B+” (Very Good) financial strength ratings of two separately rated subsidiaries of State Farm Mutual Automobile Insurance Company—State Farm General Insurance Company (Bloomington, Ill.) and State Farm Lloyds (Dallas, Texas)—under review with negative implications. Weakened …
