Standard & Poor’s Ratings Services announced that it has affirmed its ‘AA+’ long-term counterparty credit and insurer financial strength ratings on Jupiter Insurance Ltd., the Guernsey-based captive insurer of U.K.-based oil major BP PLC, with a stable outlook. “The ratings …
French bank Credit Lyonnais (CL), the Consortium de Réalisation (CDR), a French government agency established to take over the bank’s debt mountain in 1995, and other defendants officially plead guilty yesterday in federal court in Los Angeles to charges stemming …
Lloyd’s announced the election of five members to its governing council, the body that has ultimate responsibility for directing and controlling the Lloyd’s market. All the appointments are for a term of three years, commencing on February 1, 2004. New …
Toronto-based Meloche Monnex, a subsidiary of Toronto-Dominion Bank, has agreed to acquire Liberty Mutual Group’s Canadian automobile and homeowner insurance operations for an undisclosed price. When the acquisition is completed, Meloche Monnex will become Canada’s largest direct-response P/C insurer and …
The small business unit of Schaumburg, Ill.-based Zurich North America has elevated the position of its 175 account executives to the position of state agent, the company said in a statement. The transition recognizes the role, responsibility and level of …
Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, announced the opening of a new greenfield facility in Tucson, Ariz. This new 16-acre facility will provide needed coverage in the southern part …
Acordia,Inc., the fifth largest insurance brokerage in the U.S., and a subsidiary of Wells Fargo & Company, acquired Feeney Durler West Insurance Services, LLC. The agency’s professional staff will continue serving clients from the same location at 187 Concourse Boulevard, …
California workers’ compensation costs per claim in California continue to grow rapidly, increasing 15 percent from 2000 through 2001 (as of 2002) and are accelerating, according to a new study from the Cambridge, Mass.-based Workers Compensation Research Institute. California has …
Alabama Independent Insurance Agents (AIIA) member agencies now have access to a new E&O Umbrella. In response to member requests IIABA through Big “I” Advantage programs is making a commercial umbrella available to AIIA member agencies. The umbrella is written …
The Hartford Financial Services Group, Inc. has opened its street cleaners insurance program to all independent agents doing business with The Hartford. Hartford-affiliated agents can place their clients’ business directly with the company. The Hartford’s Clean Streets Insurance Program, launched …
