Bermuda-based XL Capital Ltd. has announced changes and enhancements to the financial reporting presentation of its Financial Products and Services (FP&S) segment. “The purpose of these changes is to provide a clearer, more comprehensive presentation of the results of operations …
Fitch Ratings announced that it has assigned an insurer financial strength (IFS) rating of ‘AAA’ to Assured Guaranty Corp. (AGC). Along with its affiliate company Assured Guaranty Re International (AGR), whose ‘AA’ IFS rating is affirmed. AGC is a wholly …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A “(Excellent) and the issuer credit rating of “a” of Bermuda-based Montpelier Reinsurance Ltd. Best also assigned the company an issuer credit rating of “bbb” and affirmed …
MBA Holdings announced that its subsidiary, National Motorcycle Dealers Association (NMDA) has entered into an agreement with Universal Underwriters Group to underwrite insurance products to franchised motorcycle dealers. Universal Underwriters Group product offerings include; auto inventory physical damage, property, garage …
Los Angeles-based Topa Insurance Company announced the promotion of Al Ridge to underwriting manager, commercial lines. He will be responsible for managing the commercial lines package department and Topa’s property division. Ridge joined the company in 1994 as a package …
Farmington Hills, Mich.-based national specialty insurance wholesaler Burns & Wilcox appointed Alicia Bailey as a commercial underwriter in their Chicago office. Bailey serves as liaison with Burns & Wilcox’s network of agents, quoting new business, retaining renewal business and marketing …
In a decision that could affect auto insurance policies for millions of New Jersey drivers, a state appeals court ruled Wednesday that a drunken driver can still collect medical expenses from her carrier. A provision in an Allstate policy excluding …
The Connecticut House passed legislation Wednesday that would make Connecticut the second state to establish same-sex civil unions, and the first to do it without a court order. Addressing concerns raised by Gov. M. Jodi Rell, the House amended the …
Acting New York Superintendent of Insurance Howard Mills testified before a U.S. Senate committee and urged Congress to extend this year the Terrorism Risk Insurance Act at least through 2007 because he said the private sector currently has neither the …
California Insurance Commissioner John Garamendi on April 14 announced new regulations to protect homeowners from unfair “use it and lose it” practices in the homeowners insurance market. “We all pay insurance companies to cover losses in case our homes are …
