A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Canadian insurer Transportation Property and Casualty Company Inc. (TPCC). Best said the “ratings …
Now that the U.S. Senate has voted on a federal farm bill, it is scheduled to take up federal flood insurance starting Monday. Senate Majority Leader Harry Reid has officially filed “cloture” on the measure (S.1940) and it has been …
Impending changes in UK laws governing claims for Employers Liability (EL) and Public Liability (PL) should be a priority membersof the UK’s Managing General Agents’ Association were told at a recent briefing in London. The MGAA’s bulletin warned that changes …
Alpha Natural Resources has completed sealing the West Virginia mine where an explosion killed 29 workers in 2010. Alpha spokesman Ted Pile told The Register-Herald that crews put the final concrete seal in place at the Upper Big Branch mine …
A giant sinkhole swallowed the back half of a Tampa Bay area home and is threatening nearby homes. Homeowner Susan Minutillo says she returned from running errands Wednesday afternoon to find half of her house destroyed. The Tampa Bay Times …
The South Carolina House this week overrode Gov. Nikki Haley’s veto of a bill that would provide an agency with new, safer equipment to fight wildfires. Meanwhile, the House upheld her veto of a measure meant to help former convicts …
A federal judge said on Thursday that shareholders can proceed with a lawsuit accusing Goldman Sachs Group Inc. of concealing conflicts of interest in several collateralized debt obligation transactions, the fallout from which caused Goldman’s stock price to drop. The …
Workers’ compensation carrier Normandy Harbor Insurance Co. has hired Robert E. Sublet as director of marketing for southwest Florida. In his new position, Sublet will work with Normandy Harbor’s independent agency partners in Hillsborough, Pinellas, Manatee, Sarasota, Charlotte, Lee, Collier, …
Ratings agency Moody’s Investors Service downgraded 15 of the world’s biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities; however, some banks criticized the …
Otto Thoresen, the Director General of the Association of British Insurers, issued a positive comment on the announced plan by UK Business Secretary Dr. Vince Cable to regulate payments to company executives. The proposed measures include giving shareholders binding votes …
