U.S. Secretary of Labor Elaine Chao has affirmed the Bush administration’s support for legislation permitting small employers, working through trade associations, to jointly acquire health insurance for their employees. According to Chao, association health plans, exempt from state insurance company …
ACE Tempest Re appointed Matthew Shaw as Managing Director of ACE Tempest Re Europe, based in London. Shaw joins the company from St Paul, where he served as a director of the board of the Managing Agent and Active underwriter …
Standard & Poor’s has assigned its ‘AA-‘ insurer financial strength rating to MS Frontier Reinsurance Ltd. (MSFR), based on its superior capitalization, its strategic importance to its parent, Mitsui Sumitomo Insurance Co. Ltd. (MSI; AA-/Negative/A-1+), and the explicit support it …
A.M. Best reported that one of Lloyd’s managing agencys, Hardy Underwriting Group plc, has been approved to increase the underwriting capacity of its syndicate 382 to 100 million pounds ($1 = 0.64 pounds) for the 2003 year of account. It …
Global insurance technology solutions specialist Sherwood International, based in the U.K., announced it has bucked the industry trend by posting encouraging half-year interim results, despite universally difficult market conditions. At mid-year the company reported 125 percent new license growth compared …
A judge in Fargo, N.D. dismissed a lawsuit against the U.S. Department of Agriculture over the agency’s cancellation of a type of federal crop insurance for durum wheat last year. According to the Associated Press, the judge found that the …
Westfield Group and American Agrisurance, Inc. (AmAg®) have formed a marketing alliance for the sale of crop insurance to agricultural producers throughout the northeastern and mid-Atlantic United States. According to Scott Orndorff, Westfield senior executive, and Dennis Daggett, AmAg chief …
Fitch Ratings has affirmed its ‘A-‘ insurer financial strength rating (IFS) of Merchants Mutual Insurance Company (Merchants Mutual) and Merchants Insurance Company of New Hampshire, Inc. (Merchants New Hampshire). The Rating Outlook for each rating is Stable. The ratings are …
OneBeacon Insurance, a wholly owned subsidiary of White Mountains Insurance Group, Ltd. announced the formation of New Jersey Skylands Insurance Group as part of a restructuring of its New Jersey Personal Lines operation. The Skylands Group will offer automobile insurance …
In an unusual move, Pennsylvania Insurance Commissioner M. Diane Koken has sued two of her predecessors for private-sector work they reportedly did after leaving office for two insurance companies that later failed, according to the Philadelphia Inquirer. But Koken’s attempts …
