American Wholesale Insurance Group (AmWINS), the nation’s second largest insurance wholesaler, announced that Parthenon Capital, LLC, a Boston and San Francisco-based private equity firm, has completed the acquisition of a majority of its outstanding common stock. The employee owners of …
President Bush has approved Gov. John Lynch’s request to declare a major federal disaster in New Hampshire areas affected by the recent floods. As a result, residents, municipalities, businesses and the state are eligible for Federal Emergency Management Agency and …
The National Association of Professional Insurance Agents has debuted a Spanish language Web site to provide additional service to members of the association whose primary language is Spanish or who do business in Hispanic markets. The PIA Latino Agents Community …
Connecticut lawmakers moved closer this week toward making it a felony for the owner of a commercial vehicle to knowingly operate it without insurance. Responding to a fiery 20-vehicle crash in Avon that killed four people last July, the state …
By a vote of 228-184 on Thursday, the House of Representatives favorably approved H.R. 420, the Lawsuit Abuse Reduction Act (LARA). The legislation, introduced by Representative Lamar Smith (R-Texas), would penalize attorneys, law firms, or parties who file frivolous lawsuits, …
The Illinois House yesterday passed H.B. 806, Gov. Rod Blagojevich’s “All Kids” health insurance program on a 79-28 vote, following Wednesday’s approval of the plan in the Senate on a 32-23 vote. The program is aimed at parents who earn …
ProCentury Corporation reported after-tax losses for the third quarter from hurricanes Katrina and Rita of approximately $6.0 million, or $0.46 per diluted share, net of expected reinsurance and including estimates of internal cost to settle the claims, premiums to reinstate …
Tropical storm Beta, the 23rd named storm of the current season, is churning the waters of the Caribbean off the coast of Nicaragua. According to the latest bulletin from Miami’s National Hurricane Center, Beta is moving slowly north/northwest at about …
Odyssey Re Holdings Corp. joined the Q3 loss parade with a reported net loss of $96.9 million, or $1.51 per diluted share, for the quarter ended September 30, 2005. The figure includes previously announced catastrophe losses from Hurricanes Katrina and …
A.M. Best Co. joined S&P and Fitch (See IJ Website Oct. 26 and 27) in affirming the financial strength rating (FSR) of “A+†(Superior) and issuer credit rating (ICR) of “aa-” of the reinsurance subsidiaries of Bermuda’s PartnerRe Group. Best …
