The Commerce Insurance Company has filed an action in Massachusetts Superior Court, Suffolk County, in response to the rules published by the Division of Insurance for a new automobile residual market system. Commerce is asking the court to determine whether …
The Massachusetts Property Insurance Underwriting Association, or FAIR Plan, has been granted the ability to file for higher rates for properties in coastal areas thanks to a new law signed by Gov. Mitt Romney. The FAIR Plan, which was created …
There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the story of a broker inputting …
Dec. 16, 1773, was a sad day for Lloyd’s of London. On that day, angry colonists threw 340 crates into Boston harbor in the revolutionary Boston Tea Party. Turns out, Lloyd’s insured those crates of tea. Appearing in Cambridge, Mass., …
VW Seeks a Sales Charge Out of No-Charge Insurance to Car Buyers Volkswagen of America, looking for ways to attract younger buyers, is going beyond sporty designs, cash rebates and zero percent financing incentives to offer car buyers, regardless of …
Where are all the buyers? Regulators and other officials note that the voices of insurance buyers are conspicuously absent from the current controversy over brokerage compensation. They say that few if any risk managers or buyers of insurance have come …
Name May Be Changing but Company’s Service, Business Practices Stay the Same At the corner of Cole and Monticello Avenues near the Highland Park area of Dallas, an excess and surplus insurance brokerage was born–twice, it could be argued. The …
Certain events mark each generation, but as the scope of the disaster that struck 12 countries around the Indian Ocean on Dec. 26 emerges, it has become evident that it will haunt not just the present generation, but many future …
A.M. Best affirmed the financial strength rating of “A-” (Excellent) Quanta Capital Holdings Ltd., a specialty insurance, reinsurance and risk consulting services provider. Best also affirmed the stable ratings outlook for all companies. According to Best, the ratings take into …
S&P lowered its counterparty credit and financial strength ratings on Best Meridian Ins. Co. and its subsidiary, Best Meridian International Ins. Co. to “BB+” from “BBB-” and assigned a stable outlook. At the same time, S&P withdrew the ratings, as …
