The Director of the Oregon Department of Consumer and Business Services has revoked the license of nonresident producer Manuel A. Salcido. Salcido has been licensed in Oregon as a nonresident insurance producer from Nov. 2004 to Nov. 2006. On Nov. …
Even though a homeowner’s insurance policy said floods were not covered, leaving that statement out of the application left the company liable for damages to a house destroyed by Hurricane Rita’s winds and floods, a judge in New Iberia, La., …
Texas Attorney General Greg Abbott’s office announced that Abbott has taken legal action against four Houston-area chemical plants for violating Texas environmental laws. The case is the first in Texas arising out of the U.S. Environmental Protection Agency’s (EPA) initiative …
Oklahoma Attorney General Drew Edmondson’s office will propose legislation to expand his Consumer Protection Unit’s prosecutorial authority. In a release, Edmondson said a case he recently filed, which concerns identity theft and fraud, highlights the need for the new law. …
The Chubb Corporation has entered into a settlement agreement with the Attorneys General of New York, Connecticut and Illinois, to resolve an investigation of customer steering, improper finite reinsurance transactions, and other unlawful industry practices. Under terms of the settlement, …
Two Allstate property insurance companies can raise their rates by 8.2 percent, state regulators ruled this week, a move that will affect roughly 400,000 customers. Allstate Floridian Insurance and Allstate Floridian Indemnity had originally requested average statewide rate increases of …
Hilb Rogal & Hobbs has signed a definitive agreement to acquire the stock of Glencairn Group Limited, an independent Lloyd’s insurance and reinsurance broker group headquartered in London. HRH said the purchase price, which was not disclosed, “will consist of …
A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” to Bermuda-based Empyrean Re Ltd. with a stable outlook. “The ratings of Empyrean Re are based on its excellent capitalization, experienced …
Newark Calif.-based Risk Management Solutions has announced the launch of the RMS(R) India Earthquake Model. RMS developed the Model as part of its RiskLink(R) catastrophe modeling system. “The Aggregate Loss Module (ALM(R)) was built in partnership with Aon Re Asia …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company, the main operating company of Switzerland’s Zurich Financial Services Group (ZFS) and its subsidiaries. Best …
