A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of American Modern Insurance Group of Amelia, Ohio and its property/casualty members. The outlook for all ratings is stable. Best …
Arkansas Insurance Commissioner Jay Bradford on March 11 suspended the certificates of authority to conduct insurance business of two New York domiciled property and casualty insurance companies: Centennial Insurance Company and Atlantic Mutual Insurance Company. According to the commissioner’s orders …
Three powerful tornadoes touched down in Arkansas on March 10, damaging homes and injuring at least four people, Risk Management Solutions (RMS) has reported. According to National Weather Service, the first of the three tornadoes occurred on March 10 at …
National Contractors Insurance Company, Inc., a Risk Retention Group (“NCIC”), A.M. Best Rated B+ (Good), is expanding from 25 to 35 states, with their Commercial General Liability coverage now being made available in Alabama, Connecticut, Indiana, Iowa, Kansas, Ohio, Mississippi, …
Arkansas’ Insurance Commissioner Jay Bradford has immediately suspended the resident producer license of Steve Standridge, founder of the Steve Standridge Insurance Inc. based in Mount Ida, Ark., for allegations that he falsified collateral used to purchase another insurance organization and …
Scrubbing ‘Gotcha’ Clauses “Our goal is to scrub ‘gotcha’ clauses out of insurance contracts before they’re sold to Michigan consumers.” —Michigan Office of Financial and Insurance Regulation Commissioner Ken Ross is requiring insurance companies to submit to OFIR all new …
Thomas J. Schaffler has been named president of Lockton Cos. employee benefits practice in Chicago. He joined Lockton more than 10 years ago as executive vice president and producer and serves on the Chicago executive committee. He is also a …
No Truth to the Matter “This statement could not be further from the truth.” —Arkansas Insurance Commissioner Jay Bradford took issue with a company identifying itself as a nationwide provider of innovative and affordable health insurance solutions and suspended the …
The Independent Insurance Agents & Brokers of America (the Big “I”) has recognized Rep. Mike Ross (D-Ark.), a former independent insurance agent, as its Legislator of the Year for 2009. The award was presented yesterday at a luncheon, just prior …
Wal-Mart Stores Inc. will pay more than $11.7 million to settle a gender discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the agency said. The lawsuit accused the world’s largest retailer of regularly hiring male workers for warehouse …
