The Insurance Bureau of Canada announced that Lee Stem has been appointed as Vice-President, Information Technology, effective immediately. “Following a comprehensive search and the consideration of several candidates, Lee Stem has emerged as the best choice for IBC’s Vice-President, Information …
Standard & Poor’s Ratings Services announced that it has revised the outlooks to stable from negative on its long-term counterparty credit and financial strength ratings on NIPPONKOA Insurance Co. Ltd. (A+/Stable/–) and Aioi Insurance Co. Ltd. (A-/Stable/–), “reflecting the companies’ …
Bermuda’s XL Capital Ltd. announced that to the extent the holders of XL’s Zero-Coupon Convertible Debentures due 2021 are tendered for repurchase by XL on May 23, 2004 (the “Purchase Date”), XL has elected to pay all of the purchase …
CIGNA Corporation said that it will maintain its corporate headquarters at Liberty Place in Philadelphia through 2016. The company had been pursued by officials from New Jersey to relocated to the Camden area. Approximately 1,500 people currently work in CIGNA’s …
Union and safety leaders reported a dramatic surge in deaths due to workplace illnesses and injuries in Massachusetts last year. The number of deaths in 2003 reached 81, up from the 49 deaths in 2002 and the highest number of …
Jess Chappell, President and CEO of Savannah, GA based CIS, Inc., announced that CIS will enter into the South Carolina non-standard auto market by taking over the administration of an already existing program. “We are very excited about the opportunity …
Insurance companies in New Mexico may no longer exclude family members from coverage under so-called umbrella policies, the state Supreme Court has ruled in two cases involving auto accidents. Such exclusions “are unenforceable as a violation of New Mexico public …
The Council of Insurance Agents & Brokers commented that Placement Service Agreements (PSAs) between commercial insurance brokers and the insurance carriers with which they do business are not an issue of concern in the industry. New York Attorney General Eliot …
The California Workers’ Compensation Institute will hold a 1-day seminar in early June in San Francisco, Irvine and Universal City to educate industry professionals on the provisions and practical implementation issues related to SB 899, the landmark workers’ compensation reform …
The Utah Supreme Court on Friday lowered by $136 million the amount of punitive damages State Farm Insurance should pay in a decades-old lawsuit alleging it underpaid insurance claims, cheated customers and destroyed documents. In an April 2003 ruling, the …
