A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed all of its debt ratings for Munich Re. The outlook …
Manufacturers of car parts and computer hard drives are the worst hit in Thailand, and face a bleak key holiday selling season due to massive floods, which have shut down production. Japanese car makers that had just started to recover …
EBRM has launched a new BCS errors & omissions policy available only to authorized agents of EBRM, a general agency of Blue Cross and Blue Shield of Illinois. The policy is a guaranteed issue insurance plan that features group discounted …
An open-government group on Tuesday, Oct. 25, challenged a law that allows members of Delaware’s Court of Chancery to preside over secret arbitration proceedings in business disputes. The Delaware Coalition for Open Government claims in the federal lawsuit that a …
A third man has pleaded guilty to conspiracy to launder money in a scam involving the sale of bogus insurance to a New York tour operator whose boat capsized in 2005 killing 20 elderly tourists, federal officials reported. U.S.Attorney Kenneth …
XL Group’s insurance segment hired three new inland marine underwriting managers. The new executives are: Anne Marie Elder as senior vice president, inland marine; Virginia Cameron as senior vice president, marine; and Alexander McGinley as vice president, marine underwriting. Based …
A furnace installation company and its insurer have agreed to pay $5 million to the victims of a fatal home explosion in Sun Prairie. Twenty-six-year-old Andrew Manley died when the blast leveled a house and damaged several others in November. …
A Texas man has been ordered to serve more than seven years in prison and repay nearly $583,000 over investment fraud. A federal judge sentenced 33-year-old Timothy Fry of Amarillo. Fry in July pleaded guilty to money laundering in what …
Auto insurance claimants who incur a total vehicle loss are notably less satisfied with the claims experience than claimants who incur a repairable vehicle claim, a new study reports. Satisfaction averages 811 on a 1,000-point scale among claimants with a …
