Odyssey Re Holdings Corp. announced that its subsidiary, Odyssey America Reinsurance Corporation, had closed on its purchase of the shell company, General Security Indemnity Company, from SCOR Reinsurance Company. The acquired company will be re-named Hudson Specialty Insurance Company (“Hudson …
Woodland Hills, Calif.-based Zenith National Insurance Corp. reported net income of $16.1 million, or $0.85 per share, for the third quarter of 2003 compared to net income of $8.7 million, or $0.46 per share, for the third quarter of 2002. …
Las Vegas-based Sierra Health Services Inc. announced that its Board of Directors has authorized the company to purchase up to an additional 3 million shares of its common stock. On Jan. 7, 2003, the company announced that the Board authorized …
Most of the damage from the rash of wildfires ravaging Southern California will be covered under property owners’ homeowners and fire insurance policies, according to the Association of California Insurance Companies (ACIC). However, the extent of coverage to rebuild homes, …
Two Jasper, Alabama residents died in a house fire Monday night. Walker County 911 received a call reporting the fire at 11:38 p.m. at which time Jasper Fire Department was dispatched to the scene. Guynell Kennedy Bray, age 77, and …
A Tennessee attorney has been sentenced on Mississippi charges in the Martin Frankel scam. Attorney General Mike Moore announced the sentencing of John Jordan for his reported role in the Frankel insurance scam. In April 2001, Jordan pleaded guilty to …
Computer Sciences Corporation announced that The Hartford Financial Services Group has signed a multi-year license for CSC’s Exceed, a comprehensive software system for the property and casualty industry. Under the new agreement, CSC will implement Exceed for use in The …
A Wisconsin Assembly bill that would prohibit insurers from using credit information in rating or underwriting auto or homeowners insurance would undermine the state’s stable insurance market and could increase premiums for consumers. “The supporters of Assembly Bill 278 aren’t …
Chicago-based Acordia Inc., the world’s sixth largest insurance brokerage and a subsidiary of Wells Fargo & Co., has acquired the assets and business of Malenas Insurance Agency, headquartered in Cleveland, Ohio. The acquisition closed Oct. 1, 2003, and terms of …
The Alliance of American Insurers has urged the Missouri Department of Insurance not to issue a proposed bulletin that would require insurers to provide coverage for mold damage in personal lines policies. “The Department of Insurance currently permits insurers to …
