Standard & Poor’s lowered its counterparty credit and financial strength ratings on Boston-based Liberty Mutual Insurance Co. and related entities to “A” from “A+” and removed them from credit watch. In addition, the rating on Liberty Mutual’s surplus notes was …
Recently, Insurance Journal sat down with Alan Kaufman, chairman, president, and CEO of the H.W. Kaufman Financial Group and its subsidiary, Burns & Wilcox Ltd. As chairman, Kaufman has played an active role through a number of mergers and acquisitions …
Oklahoma Insurance Commissioner Carroll Fisher revoked the license of a Bartlesville agent accused of both lying to clients to cover up the fact that he was unable to find coverage for them and taking cash from his employer. The insurance …
Texas insurance companies paid out around $4 billion for mold claims in the past three years. According to the Insurance Council of Texas, an insurance trade association, mold claims have represented a larger monetary loss for Texas insurers than any …
A tort reform measure aimed at addressing the state’s medical malpractice liability insurance crisis passed the Oklahoma House of Representatives by a wide margin, according to the American Insurance Association (AIA), and was sent to Gov. Brad Henry for his …
State District Judge Scott Jenkins gave preliminary approval to the $117.5 million settlement between the State of Texas and Farmers Insurance. The record settlement is the result of action taken by the Texas Office of Attorney General and the Texas …
Insurance Commissioner Carroll Fisher warned Oklahomans that Eastern Shores Casualty and Indemnity Co. and Continental Surety Company Ltd. are unlicensed to sell bonds in Oklahoma and are possibly shams. Allegedly, an Arizona agent has been operating the companies, claiming they …
In the waning hours of the 78th Legislature Texas lawmakers passed Senate Bill 14, the long-awaited insurance reform bill, giving additional power to the Insurance Commissioner to control residential and automobile insurance rates and holding out the promise of lower …
A series of severe thunderstorms and tornadoes that ravaged the country’s mid-section in early May is not likely to send property insurance rates soaring again, but the surprising weather pattern has caused insurers to take a second look at their …
The fireworks, bright lights and loud noises emanating from Nevada is not the Las Vegas strip, it is actually the final weeks of legislative debate in the state capital in Carson City. Once again the Nevada legislature has debated thousands …
