September 28, 2006
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 …
September 28, 2006
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 …
September 27, 2006
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 …
September 27, 2006
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, …
September 27, 2006
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, …
September 27, 2006
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 …
September 27, 2006
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. …
September 27, 2006
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 …
September 27, 2006
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 …
September 27, 2006
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. …