Oklahoma Insurance Commissioner Carroll Fisher suspended Pegasus Insurance Co. for failing to file required paperwork in a timely manner and violating laws requiring diverse investment portfolios. Fisher noted that Pegasus has not filed its 2001 audited financial statement, which was …
Standard & Poor’s Ratings Services said that it removed from CreditWatch its counterparty credit and financial strength ratings on the members of Kemper Insurance Cos. Intercompany Pool (Kemper) and lowered them to ‘BBB-‘ from ‘A’ based on the good business …
The Texas Department of Insurance (TDI) sent letters to the top 10 companies writing homeowners insurance in Texas asking them to voluntarily file their rates by January 2, 2003. TDI also requested that the companies to include supporting information to …
Miami-based Golden Apple Holding Company (GAHC), a wholly owned subsidiary of Navigator Ventures Inc. appointed Ballantyne McKean & Sullivan Ltd. (BMS) as lead broker of record to secure reinsurance for Golden Apple’s planned insurance company operations in the London Market …
ProAssurance Corporation of Birmingham Ala., announced that Drayton Nabers, Jr. will resign from the company’s Board of Directors on December 31, 2002. Nabers is resigning to become the Finance Director for the State of Alabama in January 2003, in the …
The American Insurance Association (AIA) today urged the U.S. Supreme Court to overturn a lower court ruling that would allow settlements of class action lawsuits to be challenged even after appeals courts upheld the settlements. “A class action settlement has …
SAFECO Corp. announced that its board of directors has approved capital contributions from the corporation to its operating subsidiaries. A contribution of $150 million was made to SAFECO’s property & casualty subsidiaries, and $100 million to SAFECO life insurance companies. …
Jim Shea has joined Acordia of California as vice president of its Construction Industry Division. Shea is a surety specialist with 16 years of insurance brokerage experience. He began his insurance career as a Surety Underwriter at Chubb (San Francisco), …
An El Dorado Hills, Calif. resident was arrested as a result of an investigation by the California Department of Insurance Criminal Investigations Branch’s Fraud Division. Charles David Littlejohn, 46, AKA Charles Brewer, was arrested at his El Dorado Hills home …
Wash.-based Mutual of Enumclaw announced an online rating and application service for agents selling its Business Owners Policy(BOP) product. The company’s agents can now get quotes in real-time for BOP policies and can also complete an application online. Mutual of …
