A.M. Best Co. has the financial strength ratings of “A” (Excellent) of Harleysville Insurance’s pool members (Harleysville) (Harleysville, Pa.). Concurrently, A.M. Best has affirmed the “a-” debt rating of Harleysville Group Inc.’s (HGIC) existing senior notes. A positive rating outlook …
Erie Insurance Group announced that its property and casualty companies would increase loss and loss adjustment expense reserves by approximately $184 million in the fourth quarter of 2002. The company also reported its expected losses due to recent storms. The …
On Dec. 19, 2002, a Lathrop, Calif. woman was arrested on insurance fraud charges as a result of an investigation conducted by the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division. Kathryn Marie Corso, 53, was arrested at …
The National Association of Independent Insurers announced that it has filed an amicus brief with the Michigan Supreme Court in the case of Sprague V. Farmers “to clarify the cost savings function of the state’s coordination of benefits provision.” “Michigan’s …
The following press bulletin was received from Mark Armstrong of North Dakota Workers Compensation. Due to the timely nature of the dispatch, and the hope that regulators in other states will take notice, we are taking the unusual step of …
Bermuda-based ESG Re Limited announced today that Deloitte & Touche has withdrawn its audit reports related to “the year ended December 31, 2001 and review reports related to the quarters ended September 30, 2001, March 31, 2002 and June 30, …
Bermuda-based PXRE Group Ltd. announced that it has entered into a quota share reinsurance agreement with P-1 Re Ltd. which will provide the company with $194 million in funded reinsurance protection against property catastrophe, marine, aviation, satellite and per-risk losses …
A.M. Best Co. has affirmed its “Superior” ratings on two of France’s largest general insurers. Yesterday it confirmed the A++ (Superior) rating of Assurances Generales de France (AGF), but kept it under review with “negative implications,” and also affirmed Groupama’s …
A new edition of the Growth and Performance Standards (GPS) study by the Academy of Producer Insurance Studies shows growth in revenues, commissions and productivity for independent insurance agencies since 1999. The GPS tracks trends in independent agency performance and …
A jury will apparently decide whether the terrorist destruction of the World Trade Center’s twin towers was one event or two and will determine how much insurers must pay to rebuild the site. According to BestWire and Comtex, a federal …
