After nearly nine weeks of being suspended, operations at the New York property insurance residual market are back. The suspension of the New York Property Insurance Underwriting Association, also known as the Fair Plan, left thousands of home and business …
New Jersey Director of Division of Criminal Justice Vaughn McKoy announced that the Division of Criminal Justice – Office of Insurance Fraud Prosecutor has obtained an indictment charging four individuals with conspiracy, theft, tampering with public records, and false swearing …
Maryland medical malpractice insurer, GE Medical Protective Co., has obtained approval for a 59.6 percent rate increase on its medical professional liability policies, slightly less than it had requested. GE Medical had filed for a 67.9 percent hike effective August …
Rhode Island insurer Pawtucket Mutual Insurance Co., and its subsidiary Narragansett Bay Insurance Co., which are under state control but still solvent, is canceling in midterm all remaining policies, a decision forced by the high cost of reinsurance. According to …
The Property Casualty Insurers Association of America, in conjunction with other industry trade groups, commercial insurance buyers and business organizations, announced that it has launched “a national public affairs campaign designed to raise awareness of the impending expiration of the …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Markel North America Insurance Group and its debt ratings of “bbb” and “bb+” on Markel Corporation’s existing senior unsecured notes and preferred securities. The …
The National Association of Professional Insurance Agents has issued a call for nominations for two prestigious national awards. “Both the 2004 PIA National Company Award of Excellence and Company Representative of the Year Award will be presented during a luncheon …
Zurich North American announced from its Illinois headquarters that its political risk unit, which provides insurance solutions for emerging markets, has been voted “Best Private Insurer” by the readers of Trade Finance magazine for the third year in a row. …
A.M. Best Co. announced that it has downgraded the financial strength rating of Gulf Insurance Group (Gulf) to “A-” (Excellent) from “A” (Excellent). At the same time Best upgraded the financial strength rating to “A+” (Superior) from “A” (Excellent) of …
Fitch Ratings has issued a report on the new Bermuda Insurers (companies formed after Sept.11), which asks the rhetorical question that although they may “shine in the sun, can they handle rain? The report, The Bermuda Class of 2001: Still …
