Standard & Poor’s Ratings Services announced that it has assigned its “A-” long-term counterparty credit and insurer financial strength ratings to Belgium-based insurer Aviabel Cie. Belge d’Assurance Aviation S.A. (Aviabel) with a stable outlook. S&P noted: “Aviabel specializes in Benelux …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Tunisia’s B.E.S.T. Reinsurance (BEST Re). It also assigned an issuer credit rating (ICR) of “bbb” to the company. The outlook on all ratings …
Aon Re Services Global Accident, Health and Life announced that Eduardo Jean-Mairet has joined the Life practice group as Director – Structured and Traditional Life Reinsurance (Europe). “He will use his expertise and the resources provided by Aon Re Global …
The Texas Workers’ Compensation Commission has approved a first-time application for a Certificate of Authority to Self-Insure for one company and also approved the renewal of certificates for six other companies during a recent public meeting. Texas law allows certain …
The American Insurance Association (AIA) on Tuesday said that it has a full agenda for the upcoming National Association of Insurance Commissioners’ (NAIC) Winter Meeting. Issues of concern to AIA include the NAIC’s draft “broker compensation” model law language, a …
Standard & Poor’s Ratings Services lowered its counterparty credit and senior debt ratings on Marsh & McLennan Cos. Inc. (MMC) to ‘BBB/A-2’ from ‘BBB+/A-2’. The ratings remain on CreditWatch with negative implications. “The rating action reflects Standard & Poor’s belief …
After years of industry complaints and months of wrangling among regulators, carriers, voluntary agents, involuntary agents, consumers and lawmakers, Massachusetts has overhauled its system of insuring high risk drivers. Massachusetts Insurance Commissioner Julianne M. Bowler on Nov. 23 issued an …
Chad Croner, 30, of Meridian, Idaho was sentenced to one to five years in prison for insurance fraud, Attorney General Lawrence Wasden said. Fourth District Judge Joel Horton suspended the sentence and ordered Croner to serve 180 days in the …
The Washington Department of Labor and Industries finalized an average 3.7 percent rate increase for workers’ compensation insurance in 2005. The increase takes effect Jan. 1 and will raise an additional $52 million to cover cost-of-living increases required by law …
A dozen individuals suspected of organizing or participating in staged crashes and filing false insurance claims were arrested today in Miami by insurance fraud investigators with the Department of Financial Services on insurance fraud charges. These individuals were charged under …
