Citing “people familiar with the matter,” the The Wall Street Journal reported that insurance giant American International Group Inc. fired two of its executives because they indicated they would invoke their Fifth Amendment rights against self-incrimination in the midst of …
Although three major proposals to revamp insurance regulation are before legislators in some form, it appears that the industry’s ultimate goal of optional federal charters is nowhere close to fruition. Only the National Association of Insurance Commissioners’ interstate compact is …
Interviewed by Kevin B. O’Reilly When Insurance Journal last spoke with Sandy Praeger, she was only months into the job. Kansans elected the Republican as insurance commissioner in November 2002. Back then she was tackling insurers’ use of credit scores …
Michael D. Pierce Cincinnati-based Great American Insurance Group recently announced three promotions in its Schaumburg, Ill.-based executive liability division. Bruce R. Smith Jr. Michael D. Pierce was promoted to corporate senior vice president of Great American. Pierce assumes the role …
He finally met his match. After more than three decades at the helm of New York-based American International Group, it took less than a month for 79-year-old Maurice “Hank” Greenberg to go from the seemingly ageless, peerless chief executive of …
Service Insurance Company of Bradenton, Fla., hit with customer losses of more than $100 million in the four hurricanes that swept Florida in 2004, was removed from A.M. Best’s rate review process and assigned an excellent rating with a stable …
Fitch Ratings affirmed the “BBB-” long-term issuer and senior debt ratings of Chicago-based commercial insurer CNA Financial Corp., as well as the “BBB-” insurer financial strength ratings of CNA’s U.S. insurance subsidiaries. The rating outlook has moved from negative to …
A.M. Best Co. placed the financial strength ratings of member companies of American International Group Inc. under review with negative implications following the announcement that the chairman and CEO Maurice Greenberg will retire as CEO, although he remains non-executive chairman. …
Was it Colonel ChoicePoint in the Conservatory With a Knife? When ChoicePoint Asset Co. finally disclosed Feb. 15 that criminals had gained access to the personal information of as many as 145,000 people in all 50 states, it came as …
There are two classic reasons why consumers change insurance providers: a lower premium and a profound lack of appreciation. Agency management can only do so many things about the premiums they proffer. But there is always something to do to …
