Two months after the worst bushfires in 80 years caused extensive damage around Sydney, Australia’s largest city, the worst fires in 50 years have been ravaging the country’s capital, Canberra and its suburbs. Four deaths have been reported and at …
The Calif. Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee authorized the WCIRB to pursue developing estimates of potential terrorism losses for California. The estimates will be based upon the model developed for NCCI by EQECAT, a nationally recognized catastrophe …
Illinois-based Applied Systems, Inc., an automation solutions provider for the property and casualty insurance industry, has reached an agreement to sell its Rating Division to MI-Assistant. “Economies of scale and carrier relationships are the two ingredients needed to make a …
According to the National Association of Independent Insurers (NAII), The Rhode Island Department of Business Regulation (RIDBR)’s Regulation 101 should be rewritten to specifically exclude surplus lines insurers, which are not included in the state’s Lead Hazard Mitigation Act. “Although …
Madoline Corporation, a subsidiary of Brown & Brown Inc. announced it has acquired the remaining 25 percent interest in Florida Intracoastal Underwriters, Limited Company (FIU), held by Trenwick America Reinsurance Corporation. As a result of this transaction, FIU will now …
Standard & Poor’s Ratings Services announced it placed its ‘A’ counterparty credit and financial strength ratings on the members of San Antonio-based property/casualty insurer Argonaut Insurance Cos. (Argonaut) on CreditWatch with negative implications based on an anticipated year-end 2002 contribution …
Workers’ compensation insurer Texas Mutual Insurance Company announced the initiation of a new Pharmacy Benefit Manager program. The program should help offset the rising costs of health care in the Texas workers’ compensation system, according to company officials. Recent studies …
State National Companies, headquartered in Fort Worth, Texas, announced it raised $17 million of capital through the issuance of floating rate trust preferred securities by T.B.A. Statutory Trust I. The company also established a $6 million revolving line of credit …
The AMVISTA Group, a unit of American Workers Assurance, made its Michigan debut recently by opening an operation in Grand Rapids. The AMVISTA Group offers a high value workers’ compensation insurance product through independent agencies in the greater Grand Rapids …
The National Association of Mutual Insurance Companies (NAMIC) named Ken Marshall, NAMIC’s Industry Knowledge Manager, to the Board of Directors of the Society of Insurance Research (SIR). His term will expire at the end of 2004. “Our industry’s ability to …
