Bermuda’s PXRE Group Ltd. announced that it has filed a shelf registration statement with the Securities and Exchange Commission for the proposed offering of up to $150 million of securities. “This shelf registration statement provides the Company with the flexibility …
A.M. Best Co. also announced that it has upgraded the financial strength rating to A (Excellent) from A- (Excellent) of another Bermuda insurer, Endurance Specialty Insurance Ltd. and its operating affiliates, and assigned them a stable outlook. The company was …
A.M. Best Co. announced that it has upgraded the financial strength rating to A (Excellent) from A- (Excellent) of Bermuda-based Montpelier Reinsurance Ltd. with a stable outlook. White Mountains Insurance Group and international broker Benfield originally formed the company after …
The Hawaii Insurance Division has levied a $150,000 fine against Terry T. Seguritan and revoked his insurance producer’s license for reportedly defrauding the public by collecting money and issuing identification cards for motor vehicle policies that did not exist, Hawaii …
The Wash. Department of Labor and Industries (L&I) has ordered an Arlington man to repay $27,814 after an investigation showed he reportedly collected workers’ compensation benefits illegally. The state agency ordered Stewart Hutchens, 28, to repay $18,542.70 in time-loss and …
The Texas insurance market may continue to experience serious affordability and availability issues if lawmakers cannot find an answer to the state’s insurance crisis that encourages competition and more choices for consumer, according to the National Association of Independent Insurers. …
Oklahoma Insurance Commissioner Carroll Fisher announced he revoked the license of a Bartlesville agent accused of lying clients to cover up the fact that he was unable to find coverage for them, as well as taking cash from his employer. …
The City of Apalachicola, Fla., received 300 smoke detectors that local firefighters will be able to install for free in at-risk homes. The smoke alarm give-away is being coordinated by the Department of Financial Services and the State Fire Marshal’s …
The National Association of Independent Insurers reported that the special session of the Florida Legislature has ended with the passage of both personal injury protection (PIP) reform and workers’ compensation reform bills. “Although the PIP reform bill includes some decent …
California’s State Compensation Insurance Fund filed a lawsuit May 28 against the California Insurance Commissioner John Garamendi and the California Department of Insurance (CDI) requesting a court-ordered injunction that would prevent the CDI from exercising authority under Risk Based Capital …
