A.M. Best Co. has placed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Darwin Group and its members under review with positive implications. Best also said the FSR of ‘A- (Excellent) and …
New York Governor David Paterson has signed into law industry-sought legislation that brings back flex rating for auto insurance and makes permanent New York’s homeowners insurer of last resort. The flex-rating legislation — which had been sought by agents and …
Standard & Poor’s Ratings Services has raised its counterparty credit rating on Markel Corp. to ‘BBB’ from ‘BBB-‘ and affirmed a stable. S&P said: “The upgrade is based on Markel’s strong competitive position in excess and surplus (E&S) and specialty …
The property/casualty insurance industry is applauding a recent Rhode Island court ruling on lead paint for confirming that a state’s product liability, not public nuisance, law should govern in such cases. In its landmark ruling, the Rhode Island Supreme Court …
Dallas, Texas-based Ketchum, Inc., a non-profit consultant in the area of fundraising, recently conducted a survey with over 50 not-for-profit organizations in the Midwest flood zone. The results showed that resources have been hit hard; 83 percent of those surveyed …
The Insurance Brokers and Agents of the West (IBA West) Young Brokers and Agents presented two awards for young professionals in the insurance industry. The Anthony J. DiBuduo Award went to Derek Ross of C.M. Meiers of Woodland Hills, Calif. …
American E&S Insurance Brokers’ San Francisco branch appointed Chip Stewart a broker. Stewart is an industry veteran with more than 20 years experience. Most recently, he was with Swett & Crawford, where he spent the past 11 years. His book …
Sloan Mason Insurance Services, a San Diego-based managing general agent and wholesale insurance broker, opened a new office in Sacramento, Calif., to introduce specialty programs and coverages for underground utility contractors and related entities; ready mix manufacturers, and other hard …
California Insurance Commissioner Steve Poizner has approved a 17.9 percent reduction in insurance premiums for Fireman’s Fund California homeowners. This reduction will bring a total of $30 million in savings to policyholders. Under the rate reductions, homeowners will save an …
At least 130 people gave up positions in various levels of Louisiana state government, just before new financial disclosure rules kicked in July 1. The Secretary of State’s Office in Baton Rouge released the list on June 30 and said …
