A.M. Best Co. has assigned a debt rating of “bbb-” to the recently issued $250 million 8.875 percent senior unsecured notes, due 2040 of Bermuda’s Validus Holdings, Ltd., and has assigned them a stable outlook. Best noted that the “proceeds …
A.M. Best Co. has assigned a financial strength rating of ‘B+’ (Good) and an issuer credit rating of “bbb-” to Vietnamese insurer Petrovietnam Insurance JSC (PVI), with a positive outlook on both ratings. The ratings reflect PVI’s “sound capitalization, excellent …
A California voter initiative that will appear on the June 8, 2010, ballot aimed at rewarding drivers who have had insurance for some time to be eligible for a “persistency discount,” even if they change carriers could result in a …
President Barack Obama’s pay czar Wednesday predicted the issue of hefty bonuses for AIG employees would end in March and denied a Republican claim that the firm outmaneuvered the Obama administration. “It ends this March with the last of these …
A.M. Best Co. has placed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Massachusetts Homeland Insurance Company and York Insurance Company of Maine under review with negative implications. Best took the rating actions following …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies, its pooled members and Bermuda-based CastlePoint Reinsurance Company Limited are unchanged. Best …
The Independent Insurance Agents of Texas (IIAT) on Feb. 2 presented its 2010 Independent Leadership Award to Joe Straus III, speaker of the Texas House of Representatives. Speaker Straus was elected to the House of Representatives in 2005 and served …
Insurance broker Lockton Southeast recently added Veronica Corkan to its team of benefits experts as vice president and unit manager in Atlanta. She joins Lockton after having served as a senior health and welfare consultant at Towers Perrin. Corkan has …
The owners of a North Carolina assisted living home have declared bankruptcy and could escape responsibility for what a judge called a pattern of neglect by under-trained and understaffed employees. Superior Court Judge James Ammons ruled in 2006 that negligence …
Connecticut Gov. M. Jodi Rell has announced she will propose stronger enforcement of the state’s 2005 law barring hand-held cell phones while driving. In a statement Saturday, Rell said she will submit legislation expanding the law to cover texting and …
