Columbus, Ohio-based insurer State Auto Financial Corp. (STFC) reported third-quarter net income increased to $15.5 million, or 38 cents per diluted share, versus $5.8 million, or 15 cents per diluted share for the same period 2002 — an increase of …
Texas Mutual Insurance Company reported that Texas Home Exteriors Inc. of Austin pleaded guilty in the 331st Travis County District Court to a third-degree felony in a workers’ compensation fraud case. The company was order to pay Texas Mutual $20,000. …
After pleading no contest to a charge of driving while intoxicated, Oklahoma Insurance Commissioner Carroll Fisher agreed to give up his official state car, according to Associated Press reports. He was driving his state car when he was pulled over …
Willis Group Holdings, the world’s third largest insurance broker, announced that it has agreed to acquire Ital Re SpA, a major Italian reinsurance broker. The bulletin described Ital Re as “a leader in providing reinsurance broking services.” Its main offices …
The Connecticut-based AMS Group announced that it has acquired Rackley Systems, Inc., a leading provider of Commercial Lines and Personal Lines rating products and services to the independent agent, insurance carrier and MGA markets. “The addition of Rackley to our …
After announcing plans to inform its members how to implement NY’s new Producer Licensing Act, (See IJ Website Oct. 24) the Professional Insurance Agents of New York State Inc. has issued a bulletin praising the adoption of the new statute. …
The United Services Automobile Association Group, which insures around 91,000 New Jersey drivers, will reportedly begin lowering rates as of the 1st of December. According to a report that appeared in the NJ Star-Ledger, USAA, which insures mainly military personnel …
A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of the U.K.’s Hiscox Insurance Company Limited, with a stable outlook. “The rating reflects the company’s excellent financial performance, capitalisation and its excellent business position …
Speaking to the New York Risk Insurance Management Society on Friday, Lloyd’s Chairman, Lord Peter Levene, stressed the role insurance plays in business, calling it “the oil in the engine of the economy, allowing entrepreneurs to take risks, helping businesses …
E.L.M. Insurance Brokers Inc., a specialist in professional liability, has markets for hard-to-place lawyers in California and for new lawyers, including plaintiff attorneys and sole practitioners. The hard-to-place program is for attorneys who have been declined by three carriers in …
