Standard & Poor’s has lowered its counterparty credit and financial strength ratings on Traders Insurance Co. (Traders) to ‘Bpi’ from ‘BBpi’. “The rating action is based on the company’s weak and volatile operating performance, limited operating scope, and decline in …
Fireman’s Fund McGee Marine Underwriters is making FOCUS(SM), its new e-solution for managing ocean cargo insurance, available to agents/brokers and their clients on a nationwide basis. The FOCUS Solution, which stands for Fireman’s Fund Online Cargo Underwriting System, is an …
Silverstein Properties Inc., along with the Port Authority and other insureds, has filed two briefs with the United States Court of Appeals for the Second Circuit establishing that the attacks on the World Trade Center constitute two occurrences for purposes …
Forgoing the use of independent agents, Employers Direct Insurance Company (EDIC), a new specialty California workers’ compensation insurance carrier with $50 million in capital, has been licensed by the California Department of Insurance. The new company, led by chairman and …
State District Judge Scott Jenkins placed Texas’ $100 million settlement with Farmers Insurance Group of Companies in limbo by ruling that top state officials and Farmers executives must testify in a policyholder lawsuit protesting the negotiated agreement. According to the …
Endurance Specialty Holdings announced that its Bermuda operating subsidiary, Endurance Specialty Insurance Ltd., has appointed William Fawcett as Senior VP, Head of Claims, responsible for managing the company’s global book of claims and claim personnel. Fawcett is both a claims …
American Life Insurance Company (ALICO), a subsidiary of American International Group, has received a license from the Ministry of Finance to operate a wholly owned life insurance company in Ukraine. The operation will be based in the capital, Kiev, and …
Risk Management Solutions (RMS), a leading provider of products and services for managing natural hazard risks, has expanded the weather databases in its Climetrix(tm) weather derivatives trading and risk management system to include new temperature data for France, Sweden, Norway, …
Bonnie LaGiglio, who was found guilty of tax fraud after other charges were dismissed for lack of evidence, was ordered to serve a 3 ½ year term in federal prison for her part in the insurance fraud that bilked Cicero …
Ann Womer Benjamin of Aurora became the 45th Director, and the first woman, to lead the Ohio Insurance Department when she took the oath of office from State Supreme Court Chief Justice Thomas Moyer on Friday. She assumed her official …
