The Property Casualty Insurers Association of America (PCI) expressed serious concerns last week regarding the Insurer Receivership Model Act (IRMA) at the National Association of Insurance Commissioners’ (NAIC) Financial Conditions (E) Committee meeting held last Tuesday in Chicago. “PCI remains …
Nationwide Insurance Company of Florida has earned a Financial Stability Rating of A, Exceptional from Demotech, Inc. This level of Financial Stability Rating is applicable to insurers possessing exceptional ability to maintain liquidity of invested assets, quality reinsurance, acceptable financial …
Venture Insurance Programs announced that it has expanded the Preferred Club Program through an exclusive program alliance with The Hanover Insurance Company. Effective immediately, The Hanover Insurance Company, rated “A-” (Excellent), Financial Size Category XII by A.M. Best Co., will …
While most believe insurance is important to protect assets and, in the case of life insurance, their families, Los Angeles-area Latino consumers in general under-utilize insurance, according to a study released today by the Tomas Rivera Policy Institute at the …
LEWISVILLE, TEXAS (July 26, 2005) – The Adam Corporation/Group (“TAC”), a privately owned holding company, announced today that its wholly owned subsidiary Reliable Reports, Inc. (“Reliable”) has acquired substantially all of the assets of CIG Property Inspections, L.L.C. (“CIG”), a …
Safety National Casualty Corporation has acquired renewal rights to the excess workers’ compensation business of Employers Reinsurance Corporation (ERC). The St. Louis, Mo.-based company l will immediately begin offering renewal quotes to expiring ERC policyholders. No reservers or liabilities are …
Legislation that would expand the state’s pilot, low-cost auto insurance program is premature without first conducting a thorough evaluation of its effectiveness, according to Sam Sorich, president of the Association of California Insurance Companies. “This five-year-old pilot program has not …
Eleven workers in western Michigan have been found guilty of unemployment insurance fraud for collecting more than $100,000 in benefits to which they were not entitled. Twenty-nine others face strong administrative action from the state’s Unemployment Insurance Agency (UIA). All …
Thanks to the pressure applied by the American Agents Alliance and its association partners, the California Department of Insurance has amended its proposed regulations dealing with the electronic reporting of agency appointments. Alliance Executive Director Ken Nigohosian said, “The change …
Insurance wholesale insurance brokerage AVRECO announced the appointment of Jody Oster to its Chicago-based casualty team. Oster has almost five years of insurance experience and works with manager Mark Senkbeil placing various lines of casualty business. In other moves, Ken …
