Dutch financial services and insurance group AEGON N.V, reported strong increases in its results for the first nine months of 2004 with net income up almost 62 percent for the period to 1.238 billion euros ($1.6 billion), compared to 764 …
A.M. Best Co. announced that it has downgraded the financial strength rating to “A+” (Superior) from “A++” (Superior) and assigned an issuer credit rating (ICR) of “aa” to the U.K.’s Legal & General Assurance Society Ltd. Best also noted that …
Following the issuance of $650 million in senior notes (See IJ Web site Nov. 9), Bermuda’s XL Capital Ltd. announced that it has called for redemption of all of its outstanding Zero-Coupon Convertible Debentures due 2021 (“CARZ”). XL said: “The …
New York Attorney General Eliot Spitzer’s style of attacking an industry and then settling for money doesn’t sit well with at least one of the country’s insurance commissioners. Lawrence Mirel, insurance commissioner for the District of Columbia, is critical of …
The rate of serious medical errors committed by first-year doctors in training in two intensive care units (ICUs) at a Boston hospital fell significantly when traditional 30-hour-in-a-row extended work shifts were eliminated and when interns’ continuous work schedule was limited …
Texas Gov. Rick Perry recently sent a message to State Farm and Farmers insurance companies, who have successfully fought state-ordered rate rollbacks for homeowners policies. “I’m not happy at all when companies come into the state of Texas and take …
No effort is planned in the upcoming Arkansas legislative session to gain approval for a measure that would limit damages that could be awarded in suits against nursing homes, a top industry official says. A measure to cap punitive damages …
San Antonio-based USAA announced that beginning in December it will reduce auto insurance rates by an average of 12 percent for its Texas members. The reduction follows a February 2004 rate cut of 4.5 percent. Henry Viccellio, president of USAA …
A handful of insurance companies doing business in Florida, including market leader State Farm, want to raise their average homeowners’ rates by as much as 25 percent. The requests filed with the Florida Office of Insurance Regulation come less then …
Marking the first formal congressional inquiry since allegations of abuse in the commercial insurance brokerage industry emerged last month, U.S. Senator Peter Fitzgerald (R-Ill.) will chair a Senate subcommittee oversight hearing of insurance brokerage practices on Tuesday, Nov. 16, at …
