Colorado’s top insurance regulator has approved the proposed $9.2 billion takeover of PacifiCare by UnitedHealth after creating safeguards to ease physicians’ fears and getting a pledge from the company that it will not pass merger costs on to consumers. Colorado …
California Insurance Commissioner John Garamendi has announced that he will introduce new regulations next week that require insurers to base auto rates primarily on a driver’s record and not on ZIP code. According to the commissioner, he wants to fulfill …
Suhr Risk Services of California has named Patricia Coutermarsh as chief operations officer. In that role, she will oversee operations from Suhr’s three Northern California branches, ensuring quality service delivery to all of its clients worldwide. Coutermarsh has more than …
France’s AXA Group announced that it plans to acquire the remaining 7.24 percent of the shares of German subsidiary AXA Konzern AG that it does not already own. The announcement described the move as “part of the streamlining of the …
Standard & Poor’s Ratings Services announced that it has assigned its interactive Lloyd’s Syndicate Assessment (LSA) of ‘4’ (low dependency) to U.K.-based Amlin Underwriting – Syndicate 2001 with a stable outlook. “The assessment reflects the syndicate’s very strong competitive position, …
A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A-” (Excellent) of South Korea’s Hyundai Marine & Fire Insurance Company, Ltd. (HMFI). Best also assigned an issuer credit rating (ICR) of “a-” to HMFI. The …
The U.K.’s Chartered Insurance Institute (CII) announced that it will run two seminars in conjunction with broker Grant Thornton on the topic of Conflicts of Interest. The CII recently made its guidance note on Conflicts of Interest available to the …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Panama’s Compania Internacional de Seguros, S.A. with a stable outlook. “The rating reflects CIS solid capitalization, historically favorable operating profitability and its well …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Germany’s Allianz Marine & Aviation Versicherungs-AG (AMAV) with a stable outlook. “The rating of AMAV reflects …
A dispute between the health insurance industry and Maine’s Dirigo Health program continues to escalate, as a trade group representing four large health insurers files a second lawsuit against the 2-year-old program. The Maine Association of Health Plans is seeking …
