A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of the key life/health (Hartford Life) insurance subsidiaries of The Hartford Financial Services Group, …
A.M. Best Co. and Standard & Poor’s Ratings Services have both issued statements in relation to American International Group’s announcement of a $61.7 billion fourth quarter loss, and the subsequent increase in financial support from the U.S. Treasury (See related …
The Insurance Fraud Program (IFP) of the Virginia State Police said it made 307 arrests for insurance fraud last year — a 47 percent increase over the previous year. In addition, convictions for insurance fraud in 2008 saw a dramatic …
A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer ratings (ICR) of “a-” of the new York-based Tower Group Companies and its pooled members. Best also …
With capacity levels up at the start of 2009, the energy insurance market remains relatively stable — says a new industry report — despite insurers seeking rate increases and the energy industry trying to maintain profitability and reducing asset values …
Stockbridge, Georgia-based wholesale insurance broker Gresham & Associates has welcomed a new property/ casualty broker, Scott Griffin, to its Orlando, Florida branch. Griffin, a University of Georgia-Risk Management School Graduate, began his insurance career in 1987 and has worked as …
ACE Europe has launched ACE Protect, a new property coverage aimed at companies which have installed sprinkler fire extinguishing systems in their premises. ACE said the new coverage “offers training and risk management advice which is provided by ACE’s award …
New Jersey transportation officials say a year-old state law banning cell phone use while driving has resulted in nearly 109,000 summonses issued in the past 11 months. That’s almost double the amount of tickets handed out during the previous five …
Instead of banning pit bulls as pets altogether in Oregon (an idea that was dropped on March 2), the state House is now considering a measure that would require pit bull owners to maintain liability insurance, or face fines. According …
Gov. John Hoeven’s staff attorney says the governor will soon name a a permanent executive director for the state workers’ compensation agency. Ryan Bernstein, Hoeven’s staff attorney, says the governor will name a new executive director within “the next couple …
