The California Department of Insurance (CDI) issued an Order of Immediate Suspension against the license of Chicago-based non-resident agent Michael Segal. The suspension was effective August 14, 2002 and is against Segal’s Non-Resident Life Agent and Non-Resident Fire and Casualty …
Iowa-based Principal Financial Group announced that it has reached a definitive agreement for the sale of its BT Financial Group businesses to Australia’s Westpac Banking Corporation for an initial payment of A$900 million ($488 million) and a future contingent payment, …
Holland’s ING Group announced Friday that Peter Gloystein, a member of the Executive Committee of ING Europe, has decided to leave the Group at the end of August. The company stated that he was leaving “by mutual agreement,” due to …
Robert V. James has been promoted to CNA insurance companies’ executive vice president of U.S. Insurance Operations for CNA Property & Casualty Operations. The announcement came from James R. Lewis who precedes Mr. James in this position and will become …
The 107th annual convention of the National Association of Mutual Insurance Companies (NAMIC) will take place Sept. 15-18, 2002, at the San Diego Marriott Hotel & Marina in San Diego, Calif. This year’s convention will celebrate the 250th anniversary of …
Zurich North America is offering group legal expense insurance benefits to companies with 500 or more employees. Offered in partnership with Advisory Communications Systems Inc. (ACS), a provider of legal expense policies. The Zurich program includes coverage for housing and …
A.M. Best Co. has downgraded the financial strength rating to “A” (Excellent) from “A+” (Superior) of The St. Paul Companies Inc.’s, St. Paul, Minn., p/c subsidiaries and its senior debt rating to “a-” from “a”, subordinated debt to “bbb+” from …
A federal judge reportedly may order a pair of trials to decide how much in insurance proceeds World Trade Center leaseholder Larry Silverstein should receive to rebuild the destroyed site, according to an Associated Press report. The dispute involving Silverstein …
Pennsylvania-based Harleysville Group Inc. M. Lee Patkus as its new president and chief operating officer. Patkus joined Harleysville in 1999 and has 25 years of industry experience. In addition, the company announced the promotions of Douglas Gaudet, who was named …
The Pennsylvania-based PMA Insurance Group appointed Barbara Sutherland as vice president and General Counsel. Sutherland has more than 20 years of legal and regulatory compliance experience in the industry. She had spent 18 years with Northland Insurance Companies, in positions …
