A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A ‘(Excellent) and issuer credit ratings (ICR) of ‘a’ of Donegal Insurance Group, its members and Michigan Insurance Company. Best also affirmed the ICR of ‘bbb’ of the publicly-traded …
A.M. Best Co. has downgraded the financial strength rating to ‘B+’ (Good) from ‘B++’ (Good) and issuer credit rating to ‘bbb-‘ from ‘bbb’ of Pennsylvania-based Commerce Protective Insurance Company (CPIC), and has placed both ratings under review with negative implications. …
Penn Millers Holding Corp., which provides property and casualty insurance through its wholly owned subsidiary, Penn Millers Insurance Co., has agreed to be acquired by a subsidiary of ACE Limited for $20.50 per share in cash. The purchase price represents …
The family of a black man who authorities say was run over by a white teenager in a truck in Jackson, Mississippi has filed a wrongful death lawsuit over the alleged hate crime. The lawsuit accuses seven white teenagers of …
Hundreds of Floridians want to opt out of a proposed $53 million federal settlement over faulty Chinese drywall in hopes of pursuing lawsuits in state courts. Attorneys representing the Florida homeowners planned Wednesday to detail the cases and importance of …
Chicago-based Hub International Ltd. has acquired some of the assets of Mountain West Insurance & Financial Services LLC, a Missoula, Mont.-based retail brokerage firm. Terms of the acquisition were not disclosed. ‘Hub International continues to look to expand in the …
California Governor Jerry Brown has signed into law a bill allowing California homeowners insurance companies to consolidate the required biannual notice offering earthquake insurance coverage with a notice explaining discounts and surcharges for earthquake insurance. Senate Bill 596 was sponsored …
The California Restaurant Mutual Benefit Corp. (CRMBC) is holding up a new conviction as success story in its ‘intensified campaign’ against workers’ compensation fraud. Jeanette Gallo pleaded no contest to one of the two felony counts of insurance fraud in …
By suing 131 individuals in its effort to recover losses on $200 billion of mortgage debt that went sour, the federal agency overseeing mortgage giants Fannie Mae and Freddie Mac is doing one thing that the U.S. government has largely …
XL Insurance has appointed Marcia Blanco and Ursula Williams to its miscellaneous professional liability (MPL) team in San Francisco. Blanco joins as the national practice leader for all MPL business and new product development to include a custom media insurance …
