Standard & Poor’s Ratings Services announced that it has affirmed its “BBB” long-term insurer financial strength and counterparty credit ratings on Taiwan’s South China Insurance Co. Ltd. with a stable outlook. “The ratings reflect the company’s consistently satisfactory operating performance, …
NBIS, the exclusive manager of ProBuilders Specialty Insurance Co. RRG, has appointed Joseph Savarese its chief underwriting officer. Savarese, who joined NBIS earlier this year as senior vice president of underwriting, has more than 20 years of industry experience. In …
Saylor & Hill announced that three senior associates of the firm have been promoted to principal. Tim Sweeney, Kevin Mirsky and Chris Williams, each of whom has worked for the firm for more than a decade, will become owners of …
The Property Casualty Insurers Association of America (PCI) praised Gov. Linda Lindle for signing into law legislation that will establish a graduated driver’s license program designed to save lives and reduce accidents involving young, teen drivers. “Graduated licenses that place …
Legislation supported by the Association of California Insurance Companies (ACIC) to extend restrictions placed on graduated drivers licenses won the approval of the Senate Transportation and Housing Committee. The bill, AB 1474 by Assemblyman Bill Maze (R-Visalia), was approved on …
At a meeting of the board of governors of Citizens Property Insurance Corp., company officials announced that more than 200,000 homeowners insurance policies have been returned to the private market since January 1, 2005. Together with the state’s Office of …
The National Association of Securities Dealers confirmed that it has imposed fines totaling more than $34 million on 15 broker-dealers in connection with the receipt of directed brokerage in exchange for preferential treatment for certain mutual fund companies. The cases, …
A summary and analysis of 2005 Florida legislation and its impact on the insurance industry, including detailed analyses of SB 1912, SB 530, SB1486, HB 501, HCB 6001 and HB 19, were presented by Florida Association of Insurance Agents representatives …
Cincinnati Indemnity Co. and Cincinnati Insurance Co. have joined the list of Florida home insurers asking the Florida Office of Insurance Regulation for permission to raise premiums by as much as 37 percent, statewide. About 15,000 Florida policyholders would be …
Florida’s Brown & Brown Inc. reported its asset acquisition of BeneTec Inc. of Arkansas headquartered in Rogers, Ark. The announcement regarding the acquisition was made jointly by C. Roy Bridges, regional executive vice president of Brown & Brown, and BeneTec …
