California Insurance Commissioner Harry W. Low recently issued an order to revoke the fire and casualty broker-agent license of George Alfred Bivins, Jr. Low also ordered that Bivins cease and desist from participating in the insurance industry in any capacity. …
Benjamin Barnes, 35, surrendered and was booked into the Sacramento County Jail on charges of insurance fraud and attempted perjury. An investigation by CDI Criminal Investigations Branch’s Fraud Division revealed that Barnes reportedly experienced leg and back pain while working …
In its largest bust to date, the Los Angeles County Organized Auto Fraud Interdiction Task Force and 120 law enforcement officers and investigators executed arrest warrants July 16 for 28 individuals charged with insurance fraud and conspiracy in conjunction with …
Fitch Ratings has lowered its insurer financial strength rating on Attorneys’ Liability Assurance Society (Bermuda) Ltd. (ALAS) to ‘AA-‘ from ‘AA’. The Rating Outlook is Stable. Fitch’s rating action reflects its belief that due primarily to intense competition and cyclical …
A.M. Best has given Lloyd’s syndicates 1003 and 2003—known as syndicate 1003/2003 (the syndicate)—a syndicate rating of “A.” The ratings of syndicate 1003/2003 are based on excellent operating performance, strict management control of underwriting, capital flexibility, carefully managed growth and …
Fitch Ratings assigned a “B-” Long-Term issuer rating to Acceptance Insurance Companies Inc. (Acceptance) and a “CCC+” rating to Acceptance’s $94.875 million 9.00 percent Trust Preferred Securities, due 2027. Acceptance is the parent company of Nebraska-based American Growers Insurance Company. …
S&P’s revised its financial strength rating on American Horizon Insurance Co. to “R” from double-“Bpi” after learning that the Cook County Circuit Court issued a liquidation order with a finding of insolvency against the company on July 11, 2002. Before …
Standard & Poor’s removed St. Paul Cos. Inc. and its subsidiaries from CreditWatch and lowered various ratings for the group’s members due to the companies’ challenges executing certain strategic actions, as well as capital adequacy for St. Paul’s combined operating …
Welcome to our 10th annual Program Directory issue, Volume I. The Insurance Journal has provided this guide for retail agents since 1992 in print and since 1998 online. The print edition is regional and published twice a year. The online …
Munich Re, the world’s largest reinsurer, announced several measures to strengthen its reserves in order to anticipate possible additional claims related to the WTC attacks, and to bolster the capitalization of its U.S. subsidiary, American Re, and both the stock …
