A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of CNA Insurance Companies (CNA) and its members. At the same time …
California Insurance Commissioner Steve Poizner has released a list of 50 companies doing business in the Iranian oil and natural gas, nuclear and defense sectors, and announced that as of March 31, 2010, no investments that an insurer holds in …
Two Congressional leaders are requesting information from five large auto insurers on accidents involving recalled Toyotas. The lawmakers have sent letters to Allstate, Farmers, GEICO, Progressive and State Farm. The letters were sent to chief executives of the five insurers …
PartnerRe Ltd. shook off a rather dismal 2008 with a strong performance in 2009. The Bermuda-based reinsurer posted net income of $354.4 million, or $4.25 per share on a fully diluted basis for the fourth quarter of 2009, compared to …
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, …
Bermuda-based Armour Reinsurance Group Holdings Limited announced the appointment of Katherine Barker as President of its US subsidiary, Armour Risk Management Inc. and group vice president. Armour Risk is the group’s global insurance servicing arm. Barker has more than thirty …
Insurance broker Marsh countered a drop in revenues in the U.S. and Canada with higher revenues from Latin America and Asia Pacific markets. Marsh and its risk management partner, Guy Carpenter, managed a 13 percent profit increase in the fourth …
The Maryland Insurance Administration has issued a bulletin insurers in the state asking them to accommodate policyholders who have been impacted by last week’s massive snowstorm. Gov. Martin O’Malley declared a state of emergency in Maryland on Friday “Because of …
The Nebraska Supreme Court on Feb. 5 upheld a decision ordering two insurance companies to pay about $550,000 of the cost of cleaning up industrial contamination in Hastings. The ruling sets the standard in Nebraska for determining how much insurance …
Bermuda-based AXIS Capital Holdings Limited reported net income for the fourth quarter of 2009 of $282 million, or $1.87 per diluted common share, compared with net income of $131 million, or $0.88 per diluted common share in Q4 2008. Net …
