Standard & Poor’s Ratings Services has upgraded Florida’s general obligation debt rating from “AA+” to “AAA.” The state says the financial ratings service based its decision on Florida’s conservative financial and budget management practices, coupled with substantial budget reserves and …
The N.C. Rate Bureau has filed a request with Insurance Commissioner Jim Long for an average increase statewide of 12.1 percent in homeowners’ insurance rates. Some proposed increases would hit 50 percent in coastal regions. “We are reviewing the filing …
Oregon Governor Ted Kulongoski said he has asked the Legislature to look into adding a surcharge on vehicle insurance to raise money for Oregon State Police patrols. “I think it is a perfect fit,” the governor said. Kulongoski had proposed …
Lexington Insurance Company, a member company of American International Group Inc. (AIG), has launched Tax Interruption Insurance, a new product that responds to the financial losses a municipality suffers when sales, property, or other scheduled tax revenue streams are disrupted …
Michael Heagerty, president and CEO of The Harry W. Gorst Co. and Compass Insurance Group of Agencies Inc., recently announced that the San Diego office of Compass is expanding. Rochelle D. Cordova, has joined the group as senior commercial lines …
The Cincinnati Financial Corp. reported record net income of $584 million, or $3.44 per diluted share, for 2004. Net income was $374 million, or $2.21 per share, in 2003. Net income per share included net realized investment gains of 36 …
