S&P lowered its counterparty and financial strength ratings on Fireman’s Fund Insurance Co. (FFIC) and some of its rated subsidiaries, as well as its financial strength ratings on other units to “A” from “A+.” The rating outlook remains negative. The …
S&P lowered its counterparty credit rating on Aon Corp. to “BBB+/A-2” from “A-/A-2.” S&P also lowered its preferred stock rating on Aon to “BBB-” from “BBB.” In addition, S&P placed all these ratings on ‘credit watch’ with negative implications. The …
S&P placed its “BBB-” counterparty credit rating on Willis Group Holdings Inc. on credit watch with negative implications following recent developments in the ongoing investigation by the New York attorney general into the payment of contingent commissions, which has led …
Standard & Poor’s Rating Services lowered its counterparty credit rating on Marsh & McLennan Cos. (MMC) to “BBB+/A-2” from “A+/A-1.” The rating remains on credit watch with negative implications, where it was placed after New York State Attorney General Elliott …
Every business insurance prospect yearns to be treated as an individual. No serious executive, regardless of their firm’s size, wants their company’s insurance problems to be solved by some prewritten, fill-in-the-blank solution. This is understandable. Yet, on the flip side, …
An insurance agency’s main function is to serve as the conduit to collect and transmit information between insurance companies and their clients. In other words, communication is what an agency produces and sells. So having great communications skills will help …
An unlicensed, uninsured contractor was arrested Monday after Florida insurance fraud investigators made a surprise inspection at a St. Lucie County subdivision. Vicente Parra Martinez, 34, owner and sole officer of P.M.V. Enterprises Inc. in Pompano Beach, is charged with …
Marsh & McLennan Companies Inc. (MMC) reported on Monday that Roger Egan, president and COO of Marsh Inc., its risk and insurance services subsidiary, and Christopher Treanor, Marsh Inc.’s chairman and CEO of Global Placement, have been asked to step …
Regulatory modernization, restrictions on cost-based underwriting, and extension of the Terrorism Risk Insurance Act (TRIA) are the three of the most significant public policy issues facing insurers in 2005, according to the Property Casualty Insurance Association of America (PCI). Approximately …
Hurricane season may be coming to a close, but it is open season on insurance companies. The aftermath of Ivan and other hurricanes has created a completely new kind of storm surge — hurricane claim litigation. And one Pensacola, Fla. …
