Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on the Core operating subsidiaries of the French credit insurance group Euler Hermes (EH) to “AA-” from “A+.” S&P also raised …
Bermuda’s Platinum Underwriters Holdings Ltd. announced that it has completed its previously announced offering of $250 million aggregate principal amount of 7.50 percent notes due 2017 (See IJ Web site May 16 and 22). “The notes were issued by Platinum …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of the Nigerian-based African Reinsurance Corporation. The outlook on both ratings has been revised to negative from stable. …
The California Department of Insurance Investigations Division announced that insurance broker Sajjad Hussain Shaikh, 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 and …
Circuit Court Judge Kevin Davey has ruled in a class-action lawsuit in Tallahassee, Fla. that Citizens Property Insurance Corp., Florida’s insurer of last resort, must pay the full amount of damage homes were insured for, even if they were primarily …
San Francisco-based Lockton Insurance Brokers has named Kathy Hinz, vice president and account executive for Lockton’s technology group. She will be based in Lockton’s San Jose office. Hinz has been in the insurance industry for more than 24 years, including …
Florida’s insurance industry survived last year’s record-breaking hurricane season and is prepared to help homeowners weather what may come this year. That was the message during a recent web broadcast carried live throughout Florida, produced by the Professional Insurance Agents …
Marsh Inc., a leading risk and insurance services firm, announced that it has retained Banc of America Securities LLC to act as its financial advisor to explore strategic alternatives for its wholesale broking operations, Crump Group, Inc., based in Dallas, …
New York Attorney General Eliot Spitzer and State Insurance Superintendent Howard Mills announced a lawsuit against the nation’s largest business insurance company, alleging that the firm manipulated its books to deceive regulators and the investing public. The lawsuit alleges that …
A bill approved by the California Senate May 25 that prevents insurers from requiring claimants to itemize personal property lost in a disaster is well intended, but will invite padding of claims and raise costs for all policyholders, according to …
