The Tennessee Department of Commerce and Insurance announced that in December 2002, Exchange Insurance Company was placed into confidential supervision because of the company’s financial difficulties. The department is now going public with the order because of the need to …
Property/casualty insurers that write homeowners insurance in Texas can now use policy forms developed by the American Association of Insurance Services (AAIS). AAIS is a national advisory organization that develops forms and rating information used by more than 600 insurers …
The Alliance of American Insurers (AAI) is applauding the appointment of Jeffrey Bragg as executive director of the Terrorism Risk Insurance Program. “Jeffrey Bragg brings a wealth of expertise to his new position,” said David Farmer, Alliance senior vice president. …
Standard & Poor’s Ratings Services said today that it assigned its ‘BB+’ rating to Zenith National Insurance Corp.’s (Zenith) $110 million 5.75 percent convertible senior notes due 2023, expected to be issued on March 21, 2003. In addition, S&P’s also …
State Compensation Insurance Fund president Dianne Oki told Calif. Insurance Commissioner John Garamendi and the Calif. State Assembly Insurance committee that State Fund may stop accepting high-risk accounts in efforts to defend it’s already precarious financial situation, according to the …
Mississippi Attorney General Mike Moore and Insurance Commissioner George Dale announced that Gary L. Atnip, the former chief financial officer for Martin Frankel, pleaded guilty to one count of conspiracy to commit mail fraud and one count of issuing false …
Infinity Property and Casualty Corporation of Birmingham, Ala. today reported earnings of its operations for the 2002 fourth quarter and full year as well as pro forma earnings as though Infinity had been a public company for all of 2001 …
The New York State Insurance Department has adopted, on an emergency basis, amendments to Regulations 41 and 57, the effect of which is to limit fully-earned premium policy provisions with respect to terrorism coverage as defined under the federal Terrorism …
The American Insurance Association commended the New Jersey Senate Commerce Committee “for its leadership and bipartisan action in passing historic legislation (Senate Committee Substitute/Senate 63) aimed at bringing competition back into the state’s auto insurance market.” “By passing this legislation, …
Queens District Attorney Richard A. Brown, New York State Insurance Department Superintendent Gregory V. Serio, New York State Workers’ Compensation Fraud Inspector General John H. Burgher, Jr. and New York City Transit President Lawrence G. Reuter, jointly announced that four …
