A Hollywood, Fla. ordinance requiring owners of “dangerous dogs” to obtain $100,000 insurance policies to cover damage caused by the animals has been repealed by the city commission because it was impossible to find insurance companies to write the policies. …
Canada’s Fairfax Financial Holdings Limited has announced that its subsidiary, Fairmont Specialty Group, has received a subpoena from the Securities and Exchange Commission requesting documents regarding “any non-traditional insurance product transactions entered into by Fairmont with General Re Corporation or …
A.M. Best Co. announced that it has downgraded the financial strength ratings of several of AXA Canada Inc.’s wholly owned property and casualty insurance subsidiaries. The rating action affects the following companies: AXA Assurances Inc. (Montreal, Quebec) and its wholly …
Romanian Prime Minister Calin Popescu Tariceanu announced that GE will locate its next Business Services & Technology Solutions Center in Bucharest, the second such center in Europe. The new center will handle “a variety of complex finance & accounting, supply …
Standard & Poor’s Ratings Services announced that it has affirmed its “BBB” long-term counterparty credit and insurer financial strength ratings on Cyprus-based reinsurer Alliance International Reinsurance Public Co. Ltd. (Alliance Re) with a stable outlook. “The ratings reflect Alliance Re’s …
With encouragement from insurers led by Progressive Insurance Co. and the state’s trial lawyers, New York lawmakers last week passed a bill that should both cut down on questionable small claims lawsuits and speed up no-fault claims disputes The bill …
Chrysler Financial, a business unit of DaimlerChrysler Services North America LLC, will cease leasing cars in Rhode Island beginning August 1, 2005, if the current vicarious liability legislation passed by the state legislature two years ago lapses without being renewed …
Vermont Gov. James Douglas has signed into law two bills, one designed to prevent cigarette-related fire deaths and the other to financially protect firefighters who suffer heart attacks in the line of duty. One law calls for all cigarettes sold …
Yates’ commercial transportation department has just added a new Admitted carrier to its line up and the carrier is hungry for new business from California agents according to Barbara Parker-Hatch, executive vice president, Yates & Associates. This is an “A” …
Rosemarie Townsend and Sharon Fleming have recently joined Portland, Ore.-based McFall General Agency Inc. Townsend will serve as a commercial multi peril underwriter for McFall’s Gig Harbor, Wash. office. She will be responsible for underwriting new commercial property, casualty and …
