A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Swiss Reinsurance Company Ltd. and its subsidiaries. Best also affirmed all debt ratings issued by Swiss Re and its …
The Insurance Council of Texas (ICT) has elected Craig Sparks chairman of its board of directors beginning Jan. 1, 2010. Sparks has been president of the Union Standard Insurance Company in Irving since 2000. Sparks’ insurance career began the day …
The hard market for financial institutions (FI) insurance, which has seen insurers push premiums up at renewal by a minimum of 10 to 15 percent, is unlikely to last until the end of 2010, according to the latest Willis FI …
The risk and insurance services company, IMA Financial Group Inc., announced that Heather Otto has joined IMA’s Kansas City location as a sales executive. Otto has successfully managed client portfolios in a $1 million sales territory. She cultivates and maintains …
A.M. Best Co.’s review of the Bermuda market’s results finds these companies strongly capitalized; However, Best warned that they will “face significant challenges during the current phase of the insurance cycle.” Best said it “believes that companies also must consider …
The Independent Insurance Agents & Brokers of America (the Big “I”) named Lauren Cialone as senior director of federal government affairs and John Prible has been promoted to vice president of federal government affairs. Cialone previously served as a legislative …
A new Study – ‘Managing Supply-Chain Risk for Reward’ – sponsored by ACE and prepared by the Economist Intelligence Unit (EIU), concludes that, “while businesses claim supply-chain risks merit a high priority at board level, many still underestimate the potential …
A.M. Best Co. has downgraded the financial strength rating to ‘A-‘ (Excellent) from ‘A’ (Excellent) and issuer credit rating to “a-” from “a” of Florida-based First Colonial Insurance Company, both with stable outlooks. First Colonial’s ultimate parent is The Allstate …
The Norwegian Risk Management Association (NORIMA) has been accepted as a member of the Federation of European Risk Management Associations (FERMA), bringing the total to 20 associations from 18. Risk management associations from Spain (IGREA) and Turkey (ERMA) became members …
The Kansas Insurance Department reports that Kansas ranks sixth lowest in the nation for average auto insurance expenditures, according to figures released by the National Association of Insurance Commissioners (NAIC). This is the fifth consecutive year the state has been …
