A.M. Best Co. announced that it has raised the financial strength rating to A (Excellent) from A- (Excellent) of U.K.-based Brit Insurance Limited (BIL), and has removed the ratings from under review status with a stable outlook. “These actions reflect …
Connecticut’s Webster Bank, a wholly owned subsidiary of Webster Financial Corporation, announced the acquisition of Budget Installment Corp., an insurance premium financing company based in Rockville Centre, New York. The terms of the acquisition were not disclosed. “Budget Installment Corp. …
The Professional Insurance Agents of New York State recognized the achievements of four insurance professionals at its recent Metropolitan Regional Awareness Program (MetroRAP), held last Thursday at the New York Marriot in Brooklyn. Janette Craven Drake received the Professional Insurance …
On Jan. 14, 2003, the WCIRB advised its members that several forms had been filed with the California Department of Insurance (CDI) related to the Terrorism Risk Insurance Act which became effective on Nov. 26, 2002. The CDI has acknowledged …
Insurance Services Office (ISO), has launched a new “Pay as You Go” pricing model for its Claims Outcome AdvisorTM (COATM) personal injury claims solution. The new pricing option enables insurance companies, for the first time, to use the new COA …
An opt-out privacy standard should be primary in all insurance jurisdictions because it respects consumer choice, according to the National Association of Mutual Insurance Companies (NAMIC) Board of Directors. “The opt-out standard respects consumer choice about the use of nonpublic …
Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch announced these recent developments in insurance fraud cases: CDI investigators in conjunction with the Citrus Heights Police Department served a search warrant on the residence of Joshua Allen Lund, …
The American Insurance Association (AIA) called upon Nevada Governor Kenny Guinn (R) to abandon his proposal to double tax insurers operating in the state. In order to tackle Nevada’s $1 billion budget deficit, Gov. Guinn’s appointed Task Force on Tax …
Gov. Rick Perry officially designated homeowners insurance and medical malpractice reform as emergency issues for the 78th Texas Legislature. The governor’s designation allows state lawmakers to begin work on these issues within the session’s first 60 days. Perry previously expressed …
Manny Varas, CEO of Professional Casualty Insurance, one of Florida’s largest homeowner insurance providers, was appointed by Republican Congressman Tom Delay of Texas to serve on the Presidential Business Commission. The Presidential Business Commission (PBC) is a group businessmen and …
