The Property and Casualty Insurers Association of America and two of its member companies are scheduled to testify at Tuesday’s legislative briefing in Maryland on insurance aspects related to Hurricane Isabel. PCI Assistant Vice President Don Griffin intends to explain …
A.M. Best Co. announced that it has assigned an issuer credit rating of “bbb” to Assurant, Inc. (currently Fortis, Inc.), the U.S. holding company of the Benelux-based Fortis Group. Fortis plans to sell 55 percent of its stake in its …
London-based Allianz Global Risks, a unit of Germany’s Allianz AG, announced that it will act as the lead insurer for the second Orinoco River Bridge Project. At 2,140 kilometers (1285 miles), the Orinoco is South America’s third largest river, running …
The St. Paul Companies announced that it will record a charge of $350 million pretax or $228 million after-tax charge for the last quarter of 2003 to increase reserves for its medical malpractice business, which is in runoff. The St. …
Alexander Morford & Woo Inc. announced that Doug C. Flake has become a partner of the firm, joining Paul Nowak, who became a partner this past October. As the manager of the firm’s California branch, Flake has helped AMW establish …
Attorney General Brian Sandoval today announced that the Nevada Department of Justice, Insurance Fraud Unit, obtained more convictions per capita than any other state. The statistics for insurance crimes were compiled by the Coalition Against Insurance Fraud late last year …
Arthur J. Gallagher announced its change to a predominantly independent board of directors. Gallagher’s board will now consist of six outside directors and two management directors, Robert E. Gallagher, chairman, and J. Patrick Gallagher, Jr., president and CEO. The change …
Insurance Journal has discovered that there is an ongoing investigation into Torrance, Calif.-based Manning Riddell Insurance Services Inc. (License #0827722) in connection with the issuance of more than 1,000 phony Errors & Omissions policies for life insurance agents in some …
Oklahoma Insurance Commissioner Carroll Fisher announced that his agency recovered more than $6 million in underpaid insurance claims for Oklahoma consumers during 2003. The Consumer Assistance/Claims Division of the Oklahoma Insurance Department is responsible for working with consumers to explain …
Republican Sen. James David Cain was appointed the new chairman of the Louisiana Senate Insurance Committee, and the National Association of Mutual Insurance Companies (NAMIC) praised his appointment. “Senate President Don Hines is to be commended for his selection of …
