December 17, 2009
The Board of Directors of Louisiana Workers’ Compensation Corporation (LWCC) has declared a 2009 dividend of $15 million, to be paid to qualifying policyholders in early 2010 upon authorization by the Louisiana Department of Insurance. Once distributed, this will bring …
December 17, 2009
A.M. Best Co. has affirmed Best’s Syndicate Rating of ‘A+’ (Superior) and the issuer credit rating of “aa-” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited. Best also affirmed the ICR of “a-” of Amlin plc, the …
December 17, 2009
Danish hosts revived climate talks on Thursday and Washington backed a $100 billion fund to aid poor countries, as world leaders gathered on the eve of a U.N. deadline to reach a deal to slow global warming. Environment ministers planned …
December 17, 2009
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Amlin Bermuda Limited (ABL), both with stable outlooks. In a separate bulletin Best affirmed the financial strength rating ‘A+’ (Superior) and …
December 17, 2009
An insurance trade group says a bill passed by the Michigan House of Representatives threatens to increase auto insurance costs and harm the state’s job market and economy. The Property Casualty Insurers Association of America (PCI) says the House passed …
December 17, 2009
According to a report from catastrophe risk modeling firm AIR Worldwide, “severe Tropical Cyclone Laurence made a second landfall this evening [Dec. 16] along the Kimberley coast of north Western Australia State. Although the storm is small in area, around …
December 17, 2009
The Hawaii State Insurance Division has successfully closed HIH America Insurance Company of Hawaii, a Hawaii workers’ compensation insurance company. Financial problems of its affiliated companies in Australia and California led to the downfall of the company in March 2001, …
December 17, 2009
Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in the U.S. Congress Wednesday, one with the backing of former Republican presidential nominee John McCain. Both would reinstate the 1930s-era Glass-Steagall laws that barred …
December 17, 2009
A federal judge in Houston found accused swindler Allen Stanford and his attorneys in contempt of a court order Wednesday over their attempts to collect insurance policy proceeds to pay defense costs. No sanctions were imposed, according to the judge’s …
December 17, 2009
New York State Insurance Superintendent James J. Wrynn announced that Joseph Fritsch has been named deputy superintendent for Accounting and International Affairs. Fritsch was most recently the director of Insurance Accounting Policy. As deputy superintendent, Fritsch will advise on accounting …