When six insurers,* led by Swiss Re, agreed to back Lloyd’s Central Fund with £500 million, with a maximum for any one year of £350 million (around $500 million at the time – $650 million currently) it seemed unlikely that …
A.M. Best Co. has affirmed the financial strength rating of B++ (Very Good) of Al Mohandes Insurance Company (Mohandes) (Egypt). The outlook remains stable. Mohandes’ prospective risk-adjusted capitalization is likely to remain solid. The company’s recently announced share issue (one …
Looking to capitalize on their industry experience, Vertafore Inc. announced the official launch of Vertafore Benefits, a new division that will provide software and automation services to employee benefits agencies and brokerage firms across the country. Vertafore Benefits becomes the …
Drivers 75 years old and older would have to take a road test to renew their licenses, under a bill introduced by Rep. Jerry Chang. Statistics from the Insurance Institute for Highway Safety showed drivers over 75 had the highest …
The Association of California Insurance Companies (ACIC) is fighting on two fronts against a proposed Dept. of Insurance regulation that would unfairly force many Californians to pay more than they should for homeowners insurance. “The regulation, now before the courts …
The consumer services staff of the West Virginia Insurance Commission will remain open from 5 p.m. to 8 p.m. on Thursday Jan. 27 to answer telephone callers’ insurance questions. Insurance Commissioner Jane L. Cline extended the department’s hours to give …
In anticipation of revenue problems and in order to meet predicted budget shortfalls the Kenton County Commission in Northern Kentucky wants to levy a county-wide 8 percent insurance premium tax on homeowners and auto casualty insurance policies. If the proposal …
The owners of a Florida auto repair shop were arrested this week on insurance fraud charges stemming from an investigation that reportedly showed they underreported payroll to avoid paying thousands of dollars in workers’ compensation premiums. Edward and Mary Thibeault, …
Floridian homeowners with policies issued by Nationwide Insurance Company of Florida, the state’s fourth-largest insurer has asked the Office of Insurance Regulation to approve a 28.3 percent rate increase. Nationwide submitted a request this week to OIR asking to increase …
A.M. Best Co. has commented that the financial strength rating of A+ (Superior) (with a stable outlook) and the issuer credit rating of “aa” (with a negative outlook) of Muenchener Rueckversicherungs (Munich Re) (Germany) remains unaffected following the company’s revised …
