The Property Casualty Insurers Association of America says that the Michigan Legislature is considering litigation reform regarding asbestos claims. According to Chicago-based PCI, Michigan has looked at the efforts of other states such as Georgia, Florida and Texas that have …
Atlanta-based Builders Insurance Group has introduced builders risk insurance offering the Georgia home-building community complete coverage from loss, damage or theft of property while under construction. The product offers enhanced convenience and flexibility through a web-based platform, enabling insurance agents …
Aflac Inc. announced in Columbus, Ga. that Martin A. Durant III will rejoin Aflac as senior vice president, corporate finance, on July 1. In his new position, Durant will be heavily involved with Aflac’s capital management activities and strategic financial …
Gov. Phil Bredesen’s plan to offer health care coverage to uninsured Tennessee workers has been advanced by the House Commerce Committee. Committee members raised similar concerns as those brought up earlier this week in a Senate committee about the program’s …
A third and final vote is expected today on Florida House No-Fault HB 7263. According to PCI spokesman Jeffery Brewer, this will be a crucial vote on key amendments being proposed. With days remaining in the session, there will be …
Florida Gov. Jeb Bush has signed legislation (HB 145) that insurance companies say will bring greater equity to the civil justice system by repealing the doctrine of joint and several liability, according to the Property Casualty Insurers Association of America. …
Platinum Underwriters Holdings, Ltd. reported net income of $77 million, or $1.16 per fully diluted common share, for the quarter ended March 31, 2006, a slight increase from the $73 million it earned in the same quarter of 2005. The …
Bermuda-based Aspen Insurance Holdings Limited reported net after tax income for the first quarter of 2006 of $61.8 million, a 13.4 percent decline from the $70.1 million it earned in the same period of 2005. While investment income rose to …
Swiss Re announced the launch of its planned $1 billion rights issue to fund its purchase of GE Insurance Solutions (GEIS). In addition, the company provided further information on its forthcoming hybrid capital offerings. The company stressed that no public …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating (ICR) of “bbb” of the Isle of Man-based Western Isles Insurance Company Limited (WIICL) with a stable outlook. “The …
