A new report released by the Florida Office of Insurance Regulation concludes the state’s workers’ compensation insurance market is competitive. The report, based on data from 2008, shows the Florida market features 251 entities writing workers’ compensation insurance — 246 …
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, …
A report from Munich Re confirms that losses from natural catastrophes “were far lower in 2009 than in 2008 due to the absence on the whole of major catastrophes and a very benign North Atlantic hurricane season.” However, the reinsurer …
Somali pirates have hijacked a UK-flagged chemical tanker in the Gulf of Aden, the first merchant vessel to be seized in the area in nearly six months, a maritime watchdog said Tuesday. Noel Choong, who heads the International Maritime Bureau’s …
