A.M. Best Co. affirmed the financial strength rating of “A-” of the Lloyd’s market with a stable outlook. Lloyd’s has a financial size category of XV. Lloyd’s excellent business profile, excellent capitalization and high standards of regulation influence the affirmation. …
A.M. Best Co. downgraded the financial strength rating of Zurich Financial Services and its core operating subsidiaries to “A” from “A+.” A.M. Best has also downgraded the ratings on debt issued or guaranteed by Zurich Insurance Company to “A” and …
S&P’s assigned its “A” rating to Hartford Financial Services Group Inc.’s (HIG) $300 million senior unsecured notes offering. The proceeds are a drawdown on an existing shelf registration and are expected to be used to refinance $300 million of public …
A.M. Best Co. lowered the financial strength rating to “A-” from “A” of Royal & Sun Alliance Insurance Group plc (R&SA), U.K., and its core subsidiaries. Concurrently, it downgraded the “BBB+” and “BBB” ratings of the group’s subordinated debt and …
Standard & Poor’s affirmed its “B+” counterparty credit rating on Acceptance Insurance Cos. Inc. (Acceptance). It also affirmed its ratings on AICI Capital Trust I and American Growers Insurance Co. (AGIC) and revised all outlooks to positive from stable. At …
A 38 year-old San Bernardino, Calif. man was sentenced to four years in state prison for defrauding his insurance company. Terry McGee was arrested in July while on his way to class at San Bernardino Valley Community College. Investigators with …
Steven M. Smith, 24, of Woodlake, Calif., was charged with six counts of felony insurance fraud for allegedly staging the theft of his 2000 Dodge Neon. According to CDI investigators, Smith filed a claim with his insurance company, Permanent General …
An Oakland woman was arraigned as the result of an investigation by the CDI’s Criminal Investigations Branch’s Fraud Division. Jeanette Deran, 52, surrendered to a $70,000 arrest warrant charging her with committing workers’ comp insurance fraud. Deran is charged with …
Kim Lorene Lawrence, 41, of Stockton, Calif. was sentenced to six years in state prison. The sentencing is the result of a nolo contendere plea to one felony count of residential burglary, one felony count of theft from an elder …
Ricardo Ramirez, 25, and his wife Nicole Barlow, 23, both of Alta Loma, Calif., were recently arrested by CDI Investigators. Ramirez was arrested at a business location in Orange, Calif. and Barlow was arrested at her residence. The couple was …
