Beginning July 18, Ohio employers will be allowed to split their premium into two payments for the Jan. 1 to June 30, 2005, payroll period. If an employer chooses the online 50/50 plan, the Bureau of Workers’ Compensation will only …
Former Chicago insurance broker Michael Segal’s sentencing for a federal conviction on 19 counts of fraud and racketeering related to nearly $30 million in missing premium trust funds has been delayed indefinitely. Segal, former owner and CEO of Near North …
The Federation of European Risk Management Associations (FERMA) has been taking an increasingly active role in supporting the efforts of the European Commission to expand the use of risk management techniques in the European Union and other countries. FERMA’s Executive …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of the Spanish insurance group Mapfre Mutualidad de Seguros y Reaseguros, the ultimate parent of the Mapfre Group (commercially referred to as Sistema Mapfre). The …
Bermuda-based Max Re Capital Ltd. announced that Philip R. Kruse, Executive VP – Life & Annuity, will be retiring from the company as of June 30, 2005 to spend more time with his family. Kruse was a founding member of …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings to “A” from “A-” on VHV Vereinigte Hannoversche Versicherung a.G. (VHV a.G.) and VHV Autoversicherung-AG (VHV Auto), which are core members …
The Association of British Insurers (ABI) has released a ground-breaking report, “Financial Risks of Climate Change,” which shows that the worldwide costs of major storms is likely to increase by as much as two-thirds taking the total cost in an …
First Niagara Risk Management Inc., the wholly-owned insurance subsidiary of First Niagara Bank and its parent First Niagara Financial Group, Inc. has signed a definitive agreement to acquire Hatch Leonard Naples Inc. the largest insurance agency in Rochester and among …
Los Angeles-based Warner Pacific Insurance Services has appointed Brian Sullivan as vice president of market development. In his role at the company, Sullivan will be responsible for expanding Warner Pacific into new geographic and product markets. Sullivan has more than …
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and has assigned issuer credit ratings (ICR) of “a” to the Markel North America Insurance Group (Markel) and its subsidiaries. Concurrently, A.M. Best has affirmed the debt ratings …
