Standard & Poor’s Ratings Services lowered its public information (pi) rating on the largest Philippine reinsurer, Universal Reinsurance Corp. Ltd. (Universal Re) to single-“Bpi” from double-“Bpi”. The downgrade reflects the company’s diminished financial profile against the backdrop of a tougher …
Bermuda-based insurer XL Capital Ltd announced it has posted to its Web site, http://www.xlcapital.com, responses to certain questions asked by analysts on its regular quarterly conference call following the announcement of second quarter results on July 31. The responses can …
SIAA announced that Haughn and Associates Insurance Agency Inc., of Dublin, Ohio, has established SIAA of Central Ohio as a Strategic Master Agency. Michael W. Haughn is the president. The agency was founded in 1986 and specializes in construction and …
Presidion Solutions Inc., a privately held Professional Employer Organization (PEO) based in Troy Mich., announced that it has renewed its workers’ compensation insurance program with First Commercial Mutual Insurance Company. The policy, which renews August 1, is insured through First …
Ohio-based State Auto Financial Corporation announced a net reported loss per share of $0.04 (basic and diluted) for the quarter ending June 30, 2002, compared with net reported earnings per share of $0.24 for the same period last year. The …
The Independent Insurance Agents Association of New York Inc. has commended the state Insurance Department and Nassau County District Attorney’s Office for their roles in filing charges against nine individuals recently accused of workers’ compensation fraud. The Syracuse-based trade association …
Wachovia Corporation announced it is acquiring Cameron M. Harris & Company (CMH), a Charlotte, N.C.-based insurance broker that specializes in commercial and personal risk management and employee benefits. Wachovia noted that with $27 million in revenues, Cameron M. Harris & …
Florida Treasurer and Insurance Commissioner Tom Gallagher announced that Citizens Property Insurance Corporation (Citizens) has take over as the state’s insurer of last resort for consumers unable to obtain property insurance coverage from the private market. Citizens, which was created …
Water intrusion/mold prevention and credit scoring are two of the topics to be examined at the 2002 Annual Insurance Symposium, sponsored by the NeighborWorks® National Insurance Task Force (NITF). The symposium will take place Aug. 7 at 9 a.m. at …
On July 31, 2002, Lori Lee Koerth, AKA Lori Lee Carbone, owner of Koerth Insurance Services was convicted of two misdemeanor counts of transacting insurance without a license. The Ventura County District Attorney’s Office prosecuted the case. Koerth was sentenced …
