The agency that manages North Dakota’s monopoly workers’ compensation system announced that premium rates will rise an average of 2 percent beginning July 1, 2005. The agency, Workforce Safety & Insurance, said premiums will be offset by an across-the-board 40 …
Minnesota’s insurance marketplace will never be the same after lawmakers passed legislation that will make it easier for insurers to offer newer and improved products to its customers, according to a statement released by the Insurance Federation of Minnesota. The …
Indiana Insurance Commissioner Jim Atterholt has withdrawn a bulletin that interpreted the “sole-use” provision of the state’s credit-based insurance scoring law to prohibit insurers from taking adverse actions on credit unless another factor had changed. Bulletin 123 was issued under …
A.M. Best Co. upgraded the financial strength ratings to “A” (excellent) from “A-” (excellent) of Safeway Insurance Co. of Illinois, Alabama, Georgia, Louisiana and Oak Brook County Mutual Ins. Co. of Texas. Best also assigned a financial strength rating of …
A.M. Best Co. affirmed the financial strength rating of “A+” (superior) and assigned issuer credit ratings of “aa-” to Selective Insurance Group and its six property/casualty pooling members. All ratings have a stable outlook. The ratings reflect Selective’s solid capitalization, …
S&P raised its counterparty credit rating on Argonaut Group Inc. to “BBB-” from “BB+.” At the same time, S&P raised its counterparty credit and financial strength ratings on Argonaut Group Inc.’s operating insurance companies to “A-” from “BBB+.” S&P also …
Standard & Poor’s Ratings Services lowered its long-term counterparty credit and senior debt ratings on American International Group Inc. to “AA” from “AA-Plus.” S&P also removed the New York-based insurance company from its credit watch list for these categories. The …
Maryland state police will not be using night vision equipment to spy on motorists to see if they are wearing seat belts. Reacting quickly to complaints, Gov. Robert Ehrlich recently directed the state police to discontinue testing the effectiveness of …
The Pennsylvania Emergency Management Agency and the Federal Emergency Management Agency announced that disaster assistance approved for residents of Bradford, Bucks, Columbia, Luzerne, Monroe, Northampton, Pike, Susquehanna, Wayne and Wyoming counties affected by the heavy rain and floods that occurred …
New Jersey’s award-winning office created to root out insurance fraud is under scrutiny itself, with the state auditor probing allegations the insurance industry was billed about $4 million for employees who never worked on fraud cases. The probe stems from …
