Michigan Office of Financial and Insurance Services (OFIS) Commissioner Frank Fitzgerald announced that insurance company and health maintenance organization (HMO) financial statements are now available on the OFIS Web site. “From the OFIS Web site, consumers can access complaint, financial …
A three-and-a-half year lawsuit pitting two former State Farm agents against giant conglomerate State Farm Automobile Insurance Company has finally come to an end, with the jury’s verdict ruling for the defendants. Richard Pyorre of Fort Bragg, Calif. and John …
Workers’ compensation costs for some Colorado employers may decrease on average about 10.2 percent later this year. Insurance Commissioner William J. Kirven III announced that the National Council on Compensation Insurance (NCCI) has filed an average decrease of 10.2 percent …
Children and spouses of workers who died in industrial accidents covered by Workers Compensation Fund (WCF) will receive $78,000 in college scholarships at an awards luncheon Aug. 12 at the Little America Hotel. In its 13th year, WCF’s Legacy of …
Swiss insurer Zurich Financial Services AG reports it has a realized capital loss of approximately $100 million on investments related to WorldCom Inc., according to a Dow Jones report. A Zurich spokesperson said the losses were not related to insurance …
Bermuda-based Arch Capital Group Ltd. reported that net premiums written for the 2002 second quarter were $223.0 million, of which the company’s reinsurance and insurance operations contributed net premiums written of $176.6 million and $46.4 million, respectively. For the six …
Standard & Poor’s Ragtings Services has revised its outlook on Taiwan-based Shinkong Insurance Co. Ltd.’s single “A-” counterparty credit rating from stable to negative. The counterparty credit rating as well as the single-‘A’-minus insurer financial strength rating on the company …
The National Association of Insurance Commissioners (NAIC) preliminary determination that 35 states are in compliance with Gramm-Leach-Bliley Act (GLBA) licensing provisions is very positive news, although agents and brokers still need every state to be reciprocal in their licensing, according …
Royal & Sun Alliance Insurance Group, the parent of Royal & SunAlliance USA, reported a Group operating result of $458 million for the first half of 2002. The company also announced an underlying operating result of $558 million that excludes …
The Independent Insurance Agents & Brokers of America (IIABA) Diversity Task Force will begin implementation of a strategic plan to increase opportunities for multicultural agents and brokers during the New Orleans InfoXchange, according to Chairman Joe Hernandez. “Multicultural insurance agents …
