Chicago Bankruptcy Judge Carol A. Doyle, who is supervising the Chapter 11 reorganization proceedings of Indiana-based Conseco, Inc., has give approval to a plan to auction off the company’s financial subsidiary, Conseco Finance Corp., to the highest bidder. Prior to …
Peoria-based RLI Corp. announced that it has completed its offering of 5,220,000 common shares, raising $125.2 million in net proceeds. “The number of shares sold includes the 4.8 million shares in the original offering, in addition to 420,000 shares sold …
Aon Corp. announced that longtime CFO Harvey N. Medvin, 66, will retire in April 2003, and will be succeeded by David P. Bolger. “For more than thirty years, Harvey has been a pillar of Aon’s executive management team and we …
Federal Judge John Grady has delivered stiff sentences on the convicted perpetrators of a $12 million insurance fraud scheme in Cicero. Reputed local mob boss Michael Spano Sr., whom prosecutors charged with masterminding the fraud, received the harshest sentence, more …
Bermuda-based AXIS Specialty Limited announced the formation of AXIS Capital Holdings Limited (AXIS Capital), which became the holding company for AXIS Specialty and its subsidiaries on December 31, 2002. “AXIS Specialty Limited continues to operate as a Bermuda domiciled Class …
A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of France’s SCOR and its guaranteed subsidiaries, removing them from “under review” status, and has assigned a “negative” outlook. Best also affirmed its ratings on …
Anderson & Murison Inc. has a program for general contractors doing commercial and apartments. No dwellings or condos. Blanket additional insured CG2010 11/85. Per project aggregate. Waver of subrogation. This is a brokerage business. Policy limits of $2 million; deductibles …
The Professional Insurance Agents of New Jersey Inc. (PIANJ) announced it and Palisades Safety and Insurance Association have developed an alternative contract option to former agents of Harleysville Garden State, Twin City Fire and Great American Spirit Insurance Co. The …
The Arizona Department of Insurance ordered State National Insurance Company to cease and desist from violating auto insurance laws on Dec. 10, 2002. The Department of Insurance conducted an examination of the automobile business of State National covering the period …
New York Gov. George Pataki announced that the state insurance department has secured comprehensive insurance coverage for New York’s snowmobile clubs through Northfield Insurance Company. The new agreement with Northfield Insurance Company will affect policies in-force, up for renewal and …
