The Tennessee Valley Authority said it will receive another $150 million from an insurance company to help pay for the ongoing cleanup of the 2008 coal ash spill in Kingston, Tenn. ACE Bermuda Insurance Ltd. will pay TVA for a …
A Texas lawmaker has called for an investigation into racist emails uncovered within the Texas Windstorm Insurance Association, which acknowledged in court that bigotry could have influenced a claim filed by a predominantly Hispanic school district. The racist emails surfaced …
Gov. Mark Dayton declined to say Dec. 18 whether he asked for the resignation of the former CEO of Minnesota’s health insurance exchange, adding that he ultimately feels responsible for the success or failure of the venture. Dayton was asked …
Holmes Murphy & Associates’ Chairman Jim Swift will move into a new role as director of development opportunities at the Des Moines, Iowa-based insurance brokerage effective Jan.1, 2014, as part of the organization’s planned leadership perpetuation strategy. As director of …
Rail Car Services LLC has been cited by the U.S. Department of Labor’s Occupational Safety and Health Administration for 11 safety and health violations, including eight repeat, at its Kansas City rail car refurbishing facility. OSHA has proposed penalties of …
Federal aid will head to Texas now that President Obama has declared a disaster area as a result of severe storms and flooding that hit the state during the period of Oct. 30-31, 2013. The U.S. Department of Homeland Security’s …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of ProAssurance Casualty Company, ProAssurance Indemnity Company, Inc. and ProAssurance Specialty Insurance Company, Inc. The companies are select subsidiaries …
A.M. Best Co. has placed under review with developing implications the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Delaware-based Canopius US Insurance, Inc. The action is also somewhat related to Best’s rating actions on …
Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool. A.M. Best said the downgrade and other related actions take into consideration …
A.M. Best Co. has affirmed the financial strength rating of ‘A++’ (Superior) and issuer credit rating of “aa+” of Swiss-based Tokio Millennium Re AG (TMR), both with stable outlooks. Best explained that “TMR is a wholly owned subsidiary of Tokio …
