Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Atlantic Mutual Insurance Co., Centennial Insurance Co., and Atlantic Lloyds Insurance Co. of Texas (collectively referred to as Atlantic Mutual) to ‘BB+’ from ‘BBB’. Standard …
New York Superintendent of Insurance Gregory V. Serio, New York City Police Commissioner Raymond W. Kelly, Queens District Attorney Richard A. Brown, State Taxation and Finance Department Commissioner Andrew S. Eristoff and State Banking Department Superintendent Diana Taylor announced the …
InsurBanc, the independent agents’ bank backed by W.R. Berkley Corp. and also owned in part by the Independent Insurance Agents and Brokers of America (IIABA), expects to break even in the second quarter of this year, its third year in …
The Professional Insurance Agents of New York State Inc. announced David Delaney, president and chief executive officer of Lancer Insurance Group, will receive the 2004 Long Island RAP Executive of the Year award. The formal presentation will take place April …
The Professional Insurance Agents of New York State Inc. announced that Daniel Maher Jr., Esq., executive director, Excess Line Association of New York, will receive the 2004 Louis A. Morelli Memorial Award. The formal presentation will take place April 22 …
Steve D’Amato, the former director of the State Rating Bureau in the Massachusetts Division of Insurance, who has emerged the past few years as an unofficial consumer advocate on insurance issues in Massachusetts, is questioning whether competition will bring much …
The reason independent agencies struggle to attract customer service representatives (CSRs) is that agencies just do not pay them enough. Instead,agencies overpay their producers. Consultant Virginia Bates thought she would be jeered after expressing this opinion at a recent meeting …
Mississippi-based First M&F Corp.’s net income for the quarter ended March 31, 2004 was $2,600,914, or $.57 basic and diluted earnings per share, compared to $2,653,589, or $.57 basic and diluted earnings per share for the first quarter of 2003. …
The Massachusetts auto insurance industry is streamlining the way it handles high risk commercial auto risks by reducing the number of servicing carriers involved in handling them and equalizing access to the residual market for all agents. Under yesterday’s vote …
Legislation that could have significantly increased automobile insurance premiums by forcing consumers to buy $35,000 in medical payments coverage was defeated in the Colorado House. “This legislation (HB 1287) could have cost consumers, on average, an extra $200 a year …
