The Hartford Financial Services Group, Inc., starting July 15, it will be offering its property insurance policyholders a new tool for accessing emergency claims payments after a catastrophic event. In addition to traditional checks and electronic fund transfers, which deposit …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Oslo-based Industriforsikring a.s. (INF) to ‘A-‘ from ‘A’, and given them a stable outlook. “The rating action follows the downgrade of INF’s parent, …
A.M. Best Co. has assigned a financial strength rating of “B+” (Very Good) and an issuer credit rating of “bbb-” to New Zealand-based Pacific International Insurance Limited (PII) with a stable outlook. “The ratings reflect PII’s profitable operations, improving risk-adjusted …
Bermuda-based Harbor Point Re Limited, a subsidiary of Harbor Point Limited, announced the completion of the formation of Bay Point Re, described as “a special purpose ‘sidecar’ vehicle formed for the purpose of reinsuring certain short-tail business written by Harbor …
Insurance Australia Group Limited (IAG) announced that it has acquired a newly-formed Lloyd’s managing agency and specialist Asian syndicate, Alba Group Pte Limited, to “support the development and management of its expanding Asian business.” CEO Michael Hawker commented: “Acquiring Alba …
Flanked by business and labor leaders, Gov. Joe Manchin on Tuesday urged the state’s employers to plow the $55 million they are expected to save from a workers’ compensation rate cut back into West Virginia. Manchin also praised Monday’s Supreme …
If a mandatory or even an optional federal charter is implemented in Washington, D.C., it will be a “recipe for disaster,” a top insurance agent lobbyist has warned. Charles E. Symington, Jr., told more than 500 Mississippi agents that the …
Mold prevention company American Mold Guard Inc. announced the addition of two new service centers along the Gulf Coast to aid in post-Katrina restoration and new home construction efforts. AMG opened the new service centers in St. Bernard Parish, La., …
Portland, Ore.-based Gales Creek Insurance Services, Inc. (GCIS) has announced that it is offering its Community Development Corporation (CDC) program to insurance agents and brokers nationally, effective Thursday, June 15, 2006. GCIS has opened one of their proprietary retail programs …
A study co-authored by a University of Virginia professor suggests that seniors citizens will die in car accidents at a higher rate in the years ahead as America’s 75 million baby boomers age, grow more frail and continue to drive. …
