The California Department of Insurance Investigations Division announced that insurance broker Sajjad Hussain Shaikh, 36, also known as Adam Shaikh, of Reseda, California has pled guilty to one count of forgery. Shaikh was sentenced to three years of Summary Probation …
Five of West Virginia’s largest carriers have pledged to lower premiums by more than $54 million, according to Insurance Commissioner Jane Cline. Within the past month State Farm, Nationwide, Erie, Allstate and Westfield have pledged to lower their premiums. According …
As state lawmakers prepared to approve a deal on medical malpractice, Illinois doctors and hospitals celebrated a big victory Thursday but also braced for the sour medicine they will likely have to swallow to get their insurance costs to fall. …
The Houston office of international insurance broker Jardine Lloyd Thompson LLC announced that it has created a new division to meet the needs of U.S.-domiciled clients engaged in business in the world’s emerging markets. JLT LLC has appointed John M. …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and issuer credit ratings (ICR) of “a” of the reinsurance subsidiaries of Bermuda-based Platinum Underwriters Holdings, Ltd. Best also assigned a debt rating of “bbb” …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and debt ratings on seven unregulated insurance and reinsurance holding companies. S&P also raised its ratings on certain debt issues guaranteed by the holding companies. The …
Seventy percent of the eligible voters in France expressed their opinion on Sunday, May 29 – a turnout not seen in any recent election. Fifty-five percent of them voted a resounding ‘NO’ to the proposed European Union Constitution – an …
National insurance broker Hilb Rogal & Hobbs Co. has disclosed that its president and chief operating officer has resigned and another employee fired after evidence of apparent improper payments for steering accounts to insurers was uncovered. The Glen Allen, Va.-based …
The American Insurance Association strongly disagrees with yesterday’s Florida Circuit Court ruling confirming the Fourth Circuit Court of Appeals’ 2004 decision in Mierzwa v. Florida Windstorm Underwriting Association, which misinterpreted the valued policy law. In a ruling from the bench, …
For a 35th consecutive year, SCF of Arizona’s Board of Directors approved a dividend to policyholders. The Board voted unanimously May 24 to a recommended $60 million. Since 1969, SCF has returned more than $1 billion to its qualified policyholders. …
