In a newly issued research report – “P/C Industry’s Profits Plunge; Insurers Poised for Turnaround ” – A.M. Best Co. states: “Declining underwriting results and weak investment markets have brought property/casualty insurers to a critical point where future profitability depends …
Los Angeles-based Mercury General Corp. reported a net loss in the fourth quarter 2008 of $168.3 million, compared with net income of $44.6 million for the same period in 2007. For the year, net loss was $242.1 million, compared to …
Arthur J. Gallagher & Co. has acquired retail insurance broker and consultant PartnerSource Inc. in Dallas, Texas, Gallagher announced. Organized in 1994, PartnerSource specializes in the design, implementation and ongoing support for nonsubscription programs, an alternative for Texas workers’ compensation, …
Occupants, including an insurance company, are being asked to move out and the public is being barred from one of Norman, Okla.’s tallest building due to structural problems The Financial Center, constructed in 1972, was closed on Feb. 6 after …
Property and casualty insurer Kingsway Financial Services Inc. in Toronto warned on Monday that it expects to report a “material” quarterly loss and that it will try to shore up its finances by selling non-core assets and restructuring. Kingsway, which …
As many as one in five businesses in Louisiana may be breaking the law requiring them to insure their workers against accidents, so the state is stepping up enforcement, officials say. The Louisiana Workforce Commission and the Attorney General’s Office …
Senior Market Sales, Inc. has partnered with CalSurance (Brown and Brown of California, Inc.) to offer errors and omissions insurance at discounted rates for life and health insurance agents who do business with Senior Market Sales. The initial open enrollment …
Connecticut, New York and New Jersey will share a $22 million federal grant to help financial services workers who are losing their jobs because of the financial crisis on Wall Street. Connecticut Gov. M. Jodi Rell says her office was …
One worker is dead and another suffered serious injuries after a truck carrying a bucket lift toppled and crashed into a building in Boston’s Downtown Crossing. A Suffolk University spokeswoman says none of the students in the 10 West Street …
The North Dakota Senate last week killed legislation (SB 2330) that would have banned insurers from using credit information in underwriting and rating. On Feb. 2, the Senate Industry, Business and Labor Committee voted do not pass on SB 2330 …
