New Jersey’s Banking and Insurance Commissioner, Holly C. Bakke, issued a bulletin indicating that Allstate’s marketing and agent compensation practices in the state do not violate a 1990 law requiring the state’s auto insurance companies to cover all but the …
Transamerica Reinsurance announced that Jung-Hui (Jeffrey) Huang has been hired as Country Manager for Taiwan. He is responsible for business development in the country and oversees operations in the Reinsurance Service Center in Taipei. The bulletin described Huang as a …
A.M. Best Co. announced that it has assigned an initial financial strength rating of B++ (Very Good) to Swiss-based Infrassure Ltd., formerly Alstom Power Insurance Ltd., with a “stable” outlook. Best said the rating “action reflects Infrassure’s excellent capitalisation, very …
Lloyd’s announced that Nick Gammage, 44, has been named as the new Head of Communications. He joins Lloyd’s from his former post as Director of Communications of the London Stock Exchange. Gammage previously spent three years as Director of Communications …
Standard & Poor’s has issued a report on Japan’s non-life insurance industry, which concludes that although underwriting performance has improved, they remain “under severe pressure” due to the continued weakness of the world’s equity markets. S&P said that the results …
Samantha M. Dean, 37, and Artemus M. Steele, 27, both of Sacramento, were arrested and booked into the Sacramento County Jail on three felony counts each of insurance fraud. Bail for each was set at $5,000. If convicted, they each …
California’s Workers’ Compensation Insurance Rating Bureau (WCIRB) has released its annual report on 2002 losses and expenses for the California workers’ compensation insurance industry. The report shows that total medical costs paid by insurers during 2002 totaled $4.1 billion, up …
A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to James River Insurance Company (James River) (Wilmington, Del.). The rating outlook is stable. The company is the insurance subsidiary of James River Group, Inc., a Delaware …
As the summer storm season marches on, Minnesotans continue to deal with the damage that goes along with severe weather. The Insurance Federation of Minnesota is urging homeowners to take caution regarding tree removal services. A number of homeowners have …
A.M. Best Co. has placed the financial strength rating of “B” (Fair) of Dewitt-based Iowa Mutual Group under review with positive implications. This rating action acknowledges the agreement between Iowa Mutual Group and Motorists Insurance Group to form a strategic …
