Standard & Poor’s Ratings Services said that the ratings on CNA Financial Corp. (BBB-/Stable/–) and its core insurance operating companies (A-/Stable/–) are “unaffected by the company’s announcement that it has entered into an agreement with National Indemnity Co. (NICO; AA+/Stable/–) …
The U.S. House of Representatives has a measure extending the federal flood insurance program for five years. The bill, H.R. 5114, the “Flood Insurance Reform Priorities Act of 2010,” sponsored by Rep. Maxine Waters (D-Calif.) and Rep. Barney Frank (D-Mass.), …
Nobody wishes for a natural disaster, but there’s nothing like a big U.S. hurricane to revitalize shares in property and casualty insurers, currently weighed down by persistently weak insurance prices. Nine analysts polled by Reuters on average said the U.S. …
Donegal Group Inc. has announced the execution of an agreement pursuant to which it will acquire all of the outstanding stock of Michigan Insurance Co., a majority-owned stock subsidiary of West Bend Mutual Insurance Co. Michigan Insurance Co., headquartered in …
It’s no secret. Insurance is a relationship business. And the agent-wholesale broker relationship is no exception. The continued soft market hasn’t stifled relationships either. Wholesale brokers are still a much needed asset to retail agents even though the need to …
Rhode Island’s Supreme Court has ruled that a man who became a quadriplegic when he fell from Newport’s Cliff Walk while on his honeymoon can move forward with his lawsuit. The city of Newport wanted to re-argue the case, but …
Investigators were looking for clues Thursday into what caused an oven at a U.S. Steel plant near Pittsburgh to explode, injuring 20 workers and starting a fire that burned for hours. The powerful blast in the coke oven at Clairton …
In a brief statement Lloyd’s of London officially welcomed the successful passage of the Dodd-Frank Act through the US Senate. Sean McGovern, Lloyd’s Director and General Counsel, stated: “We welcome the passage of the Dodd-Frank Act and look forward to …
Yesterday’s hearing before the House Ways and Means Committee has inspired both sides in the debate over Rep. Richard Neal’s (D-MA) plan, HR3424, to tax foreign-based insurers and reinsurers. [See IJ web site – https://www.insurancejournal.com/news/national/2010/07/15/111603.htm ]. The immediate focus is …
McGrath Insurance Group of Sturbridge, Massachusetts has acquired the Prouty Agency, also of Sturbridge, for an undisclosed sum. “Prouty Insurance has a strong tradition of providing close, personal customer service,” said McGrath President and CEO Richard McGrath. “For an independent …
