The Kemper Insurance Companies announced plans to sell certain lines of its existing businesses to a new company being capitalized by private equity funds managed by Securitas Capital, LLC, a private equity investment firm affiliated with Swiss Re; The Cypress …
The Poe Financial Group announced that it’s Florida Preferred Property Insurance Company has received regulatory approval in Florida. Company president Bill Poe Jr. said, “We are pleased to be in a position to offer this alternative within the Florida residential …
The Oklahoma House recently approved a bill prohibiting insurers from using credit information as the sole basis for denial of homeowners or auto insurance coverage, according to the American Insurance Association (AIA). “While AIA believes the use of credit information …
Calif. Insurance Commissioner John Garamendi held a press conference March 3 addressing the workers’ compensation crisis in California. Specifically, Garamendi proposed a seven point plan to return State Compensation Insurance Fund to a state of financial stability. Below is the …
An Ohio Civil Rights Commission (OCRC) housing conference will host several panel discussions about the impact of insurance scoring on access to homeownership in the state. Three sessions dealing with different issues regarding housing and scoring will be held during …
A.M. Best Co. has affirmed the financial strength rating of “A+” (superior) for the Mayfield Village, Ohio-based Progressive Casualty Pool. At the same time, A.M. Best has affirmed the “a+” senior debt rating for Progressive Corp.’s existing debt securities and …
A.M. Best Co. has lowered the financial strength rating of Long Grove, Ill.-based Kemper Insurance Cos. to “B” (fair) from “B+” (very good). The rating remains under review with negative implications. Additionally, A.M. Best has lowered the debt rating of …
The American Association of Insurance Services (AAIS) is asking the U.S. Department of the Treasury to clarify recently issued terrorism reinsurance regulations as they apply to certain rental dwellings and farm exposures. Larris Larsen, AAIS director of compliance and state …
Springfield, Ill.-based Horace Mann Educators Corp. has selected the SunGard PlanningStation Web-based financial planning workstation for its financial advisors. SunGard PlanningStation is designed to offer single-issue goal-based planning as well as cash flow planning, covering more than twenty financial concepts …
Gov. Rod Blagojevich, a Democrat, has appointed a former life insurance company lawyer the state’s new director of the Illinois Department of Insurance. J. Anthony Clark, 50, worked for 10 years as counsel for Montgomery Ward Life Insurance before opening …
