A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and assigned the issuer credit rating (ICR) of “a-” to Macao-based Luen Fung Hang Insurance Company Limited (LFH) with a stable outlook. “The ratings reflect LFH’s consistent operating …
The U.K.-based Royal & Sun Alliance Insurance Group plc (R&SA) announced the sale of its US operation to Arrowpoint Capital, a vehicle set up by the current R&SA US management team. The Company also said it is in the process …
The U.S. House of Representatives passed legislation that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. H.R. 5637, The Non-Admitted and Reinsurance Reform Act of 2006, was approved Wednesday evening by a vote of …
Now that the criminal case stemming from The Station nightclub fire in Rhode Island is ending, the families of some of the 100 people killed in the blaze are looking to a massive civil case for accountability. The federal lawsuit, …
A company that contracts with State Farm Insurance Co. is suing two former employees who are helping an attorney build cases against the insurer for denying claims after Hurricane Katrina. E.A. Renfroe & Co., a Birmingham, Ala.-based insurance adjusting firm, …
The U.S. Supreme Court said this week it will consider several business cases during its upcoming term, including a case that could make it easier for consumers to hold insurers, banks and other businesses liable for not notifying them when …
The Securities and Exchange Commission charged three former RenaissanceRe executives with securities fraud charges for their alleged involvement in a finite reinsurance scam that the SEC claims the executives concocted to smooth RenRe’s earnings. James N. Stanard and Martin J. …
Swett & Crawford appointed Kyle Chapman as vice president and director of business development. He will be working with Swett & Crawford’s senior management team in Atlanta on its acquisition initiatives. Chapman will also assist Terri Snell, Swett’s chief administrative …
Insurers, agents and business groups called on Congress to create a permanent solution safeguarding the economy against future terrorist attacks at congressional hearing today, “Protecting Americans from Catastrophic Terrorism Risk,” held jointly by the House Committee on Financial Services Subcommittee …
Flames jumped over a fire line Monday and quickly moved toward a remote community northwest of Los Angeles, prompting authorities to issue an evacuation for about 500 people threatened by one of the largest and longest-burning wildfires in state history. …
