Two leading hurricane experts, Max Mayfield, director of the National Hurricane Center, and Bill Bailey, director of the Hurricane Insurance Information Center will summarize the conclusion of the 2005 hurricane season and predict what they foresee will happen in 2006 …
A definitive agreement for a Brown & Brown subsidiary to acquire the assets of Axiom Intermediaries LLC has been signed by Jim W. Henderson, Brown & Brown president and COO, and Horace M. “Jay” Johnson Jr., Axiom Intermediaries president and …
A series of six legislative meetings attended by 30 legislators and 102 agents were held this fall by the Independent Insurance Agents of Georgia in Augusta, Macon, Savannah. Marietta, Gwinnett County and Valdosta. IIAG’s legislative program was presented by Gould …
ProAssurance Corporation and Physicians Insurance Company of Wisconsin, Inc. have agreed to merge PIC Wisconsin into ProAssurance through a proposed stock-for-stock transaction. The medical malpractice insurance companies said that the merger will expand ProAssurance’s presence in the upper Midwest and …
A state-mandated catastrophe fund is not needed in New York, according to the American Insurance Association (AIA). “The creation of a catastrophe fund in New York State is not warranted. The creation of such a fund would cause New Yorkers …
W. R. Berkley Corporation reported the formation of Berkley Aviation, LLC. Berkley Aviation will write aviation risks on behalf of W. R. Berkley Corporation’s insurance company subsidiaries. Berkley Aviation will focus on general and specialty aviation insurance and also will …
Catastrophe losses for 2005 are at an all-time record high for the industry and represent the second-highest annual level experienced by Horace Mann, according to the company’s President and Chief Executive Officer, Louis G. Lower II. Lower added that “customers …
State Farm Insurance is issuing refunds to approximately 3,800 automobile insurance policyholders in New Brunswick (Canada) as a result of an error in the application of a New Business Discount that was introduced in 2000. State Farm reported this error …
A.M. Best Co. has assigned a financial strength rating (FSR) of A- (Excellent) and an issuer credit rating of “a-” to Validus Reinsurance Ltd. (Validus) (Bermuda). The ratings have a stable outlook. Validus will operate as a Bermuda-based company primarily …
Texas-based American National Insurance Company reported that its subsidiary property and casualty companies, including American National Property and Casualty (ANPAC) and ANPAC Louisiana Insurance Company and their subsidiaries, have increased their estimated after-tax loss estimate from Hurricane Katrina to $79.4 …
