A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-“to White Mountain Insurance Co. of Burlington, Vermont. The outlook assigned to both ratings is stable. A.M. Best said the ratings reflect …
Police in the West Tennessee city of Brownsville will soon be armed with electric stun devices. Mayor Webb Banks said city officials realize the weapons are controversial, but said if police tell people they have them, officials believe officers won’t …
A.M. Best Co. has downgraded the issuer credit ratings to “bb-” from “bb” of Kingsway Financial Services Inc. of Ontario and Kingsway America Inc. in Illinois. Concurrently, A.M. Best has downgraded the financial strength ratings to B+ (Good) from B++ …
The findings from A.M. Best Co.’s cycle management study show just how difficult it is for property/casualty companies to surpass the performance of their peers on a consistent, long-term basis. Only 14 percent of the total study population outperformed their …
Liberty Mutual Group today reaffirmed its commitment to close its previously announced acquisition of Safeco Corp. by the end of the third quarter of 2008, subject to receipt of Safeco shareholder approval and applicable regulatory approvals. Under the terms of …
U.S. organizations lose an estimated seven percent of their annual revenues to fraud by accountants, managers and other employees, according to a survey of fraud examiners who investigated cases between January 2006 and February 2008. The median loss caused by …
New Hampshire officials announced changes in licensing fees for insurance producers and adjusters that include a single $210 application and license fee for initial producer licensing replacing what used to be two separate fees. The producer licensing renewal fee remains …
Maryland Insurance Commissioner Ralph S. Tyler has ruled that CareFirst can pay its terminated chief executive officer $9 million in severance, about half of what the nonprofit health insurer had proposed. Tyler ruled that CareFirst’s proposal to pay former CEO …
Filmmakers and photographers who shoot on New York City’s streets and sidewalks now have a clear set of rules dictating when they must obtain permits, after years of relying on loose guidelines that civil liberties advocates said were too vague. …
Boston’s fire commissioner is urging the city’s retirement board to deny the disability claim of a firefighter who competed in a bodybuilding contest even though he claims he can’t work because of a back injury. The Boston Globe reports that …
