Munich-American RiskPartners, a division of American Re-Insurance Company, and a member of the Munich Re Group, announced that is shifting the underwriting and marketing functions for its Canadian clients to the North American headquarters of American Re in Princeton, New …
A.M. Best announced that it has affirmed the financial strength rating of A- (Excellent) of the Lloyd’s market with a stable outlook. “The affirmation reflects Lloyd’s excellent business profile, excellent capitalisation and high standards of regulation,” said the bulletin. It …
The U.K.’s Financial Services Authority (FSA) levied fines totaling £1.35 million ($2.05 million) against Royal & Sun Alliance for failing to implement appropriate procedures to reimburse thousands of pension fund buyers who were “mis-sold” retirement plans in the 80’s and …
A news release on investment fraud scams issued by a state securities regulator group grossly misidentifies the perpetrators as independent insurance agents, said Independent Insurance Agents & Brokers of America (IIABA) CEO Robert A. Rusbuldt. Rusbuldt is responding to a …
A.M. Best Co. has assigned an “a+” rating to the $300 million 4.7% senior notes due 2007 issued by Hartford Financial Services Group, Inc. Proceeds from the notes will be used to retire the $300 million of 6.375% senior notes …
IVANS Inc. announced that 20 insurance carriers have now chosen its IVANS Transformation StationT data exchange platform. Those companies that have licensed the platform include Cincinnati Equitable Insurance Co., Donegal Mutual Insurance Co., EMC, Encompass Insurance, FCCI, First Insurance Company …
ebix.com Inc., an international supplier of software and e-commerce solutions to the property and casualty insurance industry, announced that its Board of Directors has approved and recommended to its stockholders a 1-for-8 reverse stock split of its outstanding shares of …
MIIX AdvantageT Insurance Company of New Jersey announced the New Jersey Department of Banking and Insurance has granted it a certificate of authority, effectively allowing the company to sell medical professional liability insurance coverages in the state. This action was …
Benefit Partners LLC of Bethesda, Md. announced it has partnered with 33 other benefit planning firms to create United Benefit Advisors (UBA), a national coalition formed to more effectively serve more than 4 million employees across the country. UBA, based …
The Seibels Bruce Group Inc., announced that the North Carolina Department of Insurance (NCDOI) is placing restrictions on Seibels Bruce subsidiary South Carolina Insurance Company (SCIC). The NCDOI notified the company of the restrictions in response to the recent South …
