A.M. Best Co. has affirmed the financial strength rating of ‘B-‘ (Fair) and the issuer credit rating of “bb-” of Russia’s OJSC Transsiberian Reinsurance Corporation (Transsib Re), both with positive outlooks. The ratings reflect Transsib Re’s “good business position, weak …
U.S. Risk Insurance Group Inc., based in Dallas, Texas, has expanded into the specialty reinsurance brokerage marketplace. Goss Reinsurance Brokers Inc. will operate as a specialty reinsurance broker for medium to small insurance carriers, captives, self-insurance funds, risk retention groups, …
North Dakota Insurance Commissioner Adam Hamm has revoked the insurance license of Patricia Howard, a Dunn Center, N.D., insurance agent who the insurance department says engaged in deceitful and dishonest practices against her insurance clients. The revocation bars Howard from …
Former employees of Tulsa, Okla.-based Arrow Trucking Co. have sued the company after it suddenly suspended operations and laid off workers. The federal lawsuit claims Arrow violated laws that govern mass layoffs and business closures. Philadelphia attorney Charles Ercole, who …
An insurance company is fighting a claim on a Madison County, Ill., house that exploded last year, blaming a female occupant for the blast. Madison Mutual Insurance Co.’s lawsuit in Edwardsville asks a judge to not require it to pay …
David Disiere, CEO of the Dallas-based managing general agency Deep South Insurance Group, plans to leave that position. In 2008, QBE U.S. Agencies, a longtime partner of Deep South and a subsidiary of QBE Insurance Group purchased Deep South from …
A law that goes into effect Jan. 1, 2010, increasing the required minimum liability auto insurance coverage is expected to increase insurance rates for more than 1 million Louisiana motorists. Though the change was approved by the Legislature in 2008, …
James J. Maguire, founder of Philadelphia Insurance Cos., will retire as chairman of the board of directors effective January 1, 2010. Jamie Maguire, PHLY’s president and CEO, will succeed James J. Maquire as chairman. James will continue to serve on …
It’s no secret. 2009 was a tough year. Just as tough as 2008; maybe even more so. The economy continued to tank. More businesses shut their doors. Revenues dropped for just about every business. Independent insurance agencies were no exception. …
Allianz annonced that, effective January 1, 2010, Manuel Bauer will be CEO of the new growth region – ‘Central and Eastern Europe, Middle East and North Africa’ (CEEMA). He succeeds Klaus Junker, former CEO of the New Europe region, who …
