Monthly Archives: <span>May 2003</span>

Fair Isaac Releases XML Manager For Insurance Version 2.1

Fair Isaac Corporation announced availability of XML Manager For Insurance version 2.1, based on Fair Isaac Blaze Advisor rules management technology. The new release supports the 1.2 release of the ACORD SPX standard and helps carriers and agents more easily …

Fair Isaac, Software AG Partner For XML Integration

San Rafael, Calif.-based Fair Isaac Corporation and Software AG Inc. announced a marketing partnership in the area of XML data integration and processing. By working together, the companies make it easier for insurers to integrate and use ACORD SPX standards …

Zurich NA Makes Customer Billing Information Available Online

Zurich North America Small Business announced a new Direct Bill Web site on zurichna.com. The new site gives agents and brokers direct online access to their customers’ billing information, including the status, current balance, last payment, current amount due, next …

Former Farmers Agent Charged with Grand Theft and Elder Abuse

Patrick James Murphy, 45, of Norco, pled no contest in Los Angeles Superior Court, on May 15, to 39 felony counts, including grand theft and elder abuse. Superior Court Judge David Horwitz sentenced Murphy to four years in state prison …

Group Says Cap on Non-Economic Damages Needed to Combat Fla. Healthcare Crisis

Floridians for Quality Affordable Healthcare released a report concluding that $250,000 cap on non-economic damages in medical malpractice cases would have saved 25 percent of nearly $1.2 billion in malpractice settlements and awards paid in Florida in just three years. …

S&P Assigns ‘A’ Rating to Stein Insurance Co. “Jersey”

Standard & Poor’s Ratings Services announced that it has assigned its ‘A’ insurer financial strength and counterparty credit ratings to Stein Insurance Co. (Jersey) Ltd., a Channel Islands-based captive insurer of Australia’s BHP Billiton Ltd. group, with a “positive” outlook …

Canadian April Storm Losses Reach $14.3 Million

The Insurance Bureau of Canada has released estimates that the rain storms that swept across the country’s Atlantic region on April 1st caused $14.3 million in insured damage to cars, homes and other properties. “It was a devastating week,” stated …

The Hartford’s Capital Offerings Raise $1.95 Billion

The Hartford Financial Services Group, Inc. has released a bulletin indicating that the public offerings, announced on May 14, have been completed, raising gross proceeds of approximately $1.95 billion. “About $1.1 billion of the funds were raised from 24.2 million …

Best Places Prudential’s NJ P/C Group Rating Under Review

A.M. Best Co. announced that it “has placed the financial strength rating of A- (Excellent) of the Prudential Property and Casualty New Jersey Group (PruPac New Jersey Group) (Newark, NJ) and its affiliated companies under review with negative implications.” The …

New York Central Mutual Tells PIANY Education and Technology are Essential

The Professional Insurance Agents of New York State Inc. met with representatives of New York Central Mutual Insurance Co. on May 22, as part of its continuing “Company Outreach Program.” The discussion topics included the need to get tougher on …