With three weeks remaining before the end of the 2005 sessions of the Florida Legislature, it appears that only a few insurance-related proposals have made it through the process of elimination. Remaining proposals would: • Prohibit insurance companies from canceling …
The risk management community and the world’s largest insurance brokers sent mixed signals on the future of contingent commissions for insurance brokers and other potential areas of conflict of interest at this week’s Risk and Insurance Management Society annual conference. …
Old Mutual, South Africa’s largest insurer, whose shares are traded both in Johannesburg and London, will transfer approximately 12.5 percent ownership in the company to its employees and selected investment groups, as part of the country’s plans to increase black …
ACE Europe announced the launch of a brand new Commercial Motor Third Party Property Damage Excess product. The company said the coverage is “believed to be unique in the UK insurance market.” It provides stand-alone top-up cover for damage to …
Dublin-based Research and Markets announced the addition of a report on “Credit Monitoring and Identity Fraud Insurance: What Do Consumers Need, and How Should It Be Offered?” to their offering. “This report analyzes the security, marketing, and relationship implications for …
A.M. Best Co. announced that it has assigned a financial strength rating of “B++ “(Very Good) and an issuer credit rating of “bbb” to Rutland Insurance Ltd., a single parent captive of AWG Plc, based on the Island of Guernsey. …
Bermuda Dunes, Calif.-based Trinity E&S Insurance Services has hired Michael A. Stith as executive vice president. He will be responsible for growing the California General Agency located in Bermuda Dunes, and for supervising all binding contract and brokerage underwriting and …
Providence Insurance Managers LLC, an investor group whose shareholders include insurance and investment professionals, has been chosen as the successful bidder to acquire Pawtucket Mutual Insurance Company and its subsidiary, Narragansett Bay Insurance Company, subject to regulatory approval and final …
The National Association of Professional Insurance Agents has reiterated its support of contingent commissions being a part of the compensation received by Main Street professional insurance agents. The PIA statement was issued in response to an assertion made by Joseph …
Fitch Ratings has revised the Rating Outlook to Negative from Stable on the ‘AAA’ long-term issuer and unsecured senior debt ratings of Berkshire Hathaway Inc. (Berkshire) and its wholly-owned subsidiary GEICO Corporation (GEICO). GEICO’s debt ratings are based on the …
