Louisiana and Texas legislators opted to overhaul their insurance regulatory systems this year with competition-based solutions that should help to address the insurance availability and affordability crises that have gripped consumers in both states, the National Association of Independent Insurers …
Laws mandating that consumers buy auto insurance do not reduce the number of uninsured motorists, are virtually impossible to enforce and a bill to implement such a program in Wisconsin will not help the insurance market, according to a major …
Frontenac Co., a Chicago-based private equity firm, announced that they have entered into a binding agreement with Near North National Group by which Near North will sell certain assets of its insurance brokerage operations to Frontenac. The sale was rumored …
Vulcan Excess and Surplus Insurance Service Inc. of Riverside, Calif. announced the addition of Brenda Smotherman to it’s underwritng staff. Smotherman has 13 years in the surplus lines business with a major surplus line broker in Orange County. Prior to …
Hawaii Governor Linda Lingle announced the recent licensing of the newest Hawaii captive insurance company that will be used to insure the national and international risks of its Japanese-based parent company. Mitsui & Co. Ltd. has formed its captive insurance …
New York Superintendent of Insurance Gregory Serio announced that David W. Jones of Liverpool, New York, was arrested and charged with Arson in the third degree and Insurance fraud in the second degree. It is alleged that Jones, owner of …
The Alabama Department of Insurance reported that Gov. Bob Riley has been sent a bill for his signature that will regulate indoor pyrotechnic displays in hopes of preventing a disaster like the one at a night club in Rhode Island …
Standard & Poor’s has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. (SFMA) and five other interactively rated members of the State Farm Insurance Group (State Farm). Standard & Poor’s also affirmed …
Harleysville Group Inc. announced that, based on loss activity through May 31, 2003, it expects 2003 second quarter earnings to be lower than in the same period of 2002. It expects diluted operating earnings per share to be in the …
Boston-based Plymouth Rock Assurance Corporation announced that it would offer five-year contracts to independent agents who represent Holyoke Mutual for Massachusetts private passenger auto insurance. Holyoke, based in Salem, will no longer write Massachusetts private-passenger auto insurance effective January 1, …
