November 30, 2009
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-” (Excellent) from’ B++’ (Good) and issuer credit rating (ICR) to “a-” from “bbb+” of SGI CANADA Insurance Services Limited (SCISL). Best also upgraded the FSR to ‘A-‘ (Excellent) …
November 30, 2009
A $250,000 default judgment against Tippah County has been upheld by the Mississippi Supreme Court. The case was filed in 2007 by Daniel Childers of Ripley, who contended that his elbow was broken during an arrest by county deputies in …
November 25, 2009
The Bermuda-based Max Capital Group has appointed David Kalainoff as President of Reinsurance Operations. He joined Max in 2003, most recently serving as Managing Director Reinsurance and Executive Vice President and Chief Underwriting Officer, Casualty Reinsurance of Max Bermuda. Kalainoff …
November 25, 2009
A.M. Best Co. has downgraded the issuer credit ratings (ICR) and senior debt ratings to “ccc” from “b-” of Canadian insurer Kingsway Financial Services Inc. (KFSI) and Kingsway America Inc. (KAI), which is based in Illinois. Best also downgraded the …
November 25, 2009
The New York State Insurance Department is proposing new regulations for no-fault auto insurance coverage in Empire State, in a move the state’s top regulator says will help reduce fraud. “We have to be vigilant in protecting the pocketbooks of …
November 24, 2009
While one company has gotten out of the business of insuring political campaigns, another is throwing its hat in the ring. Markel Risk Solutions, based in Glen Allen, Virginia, is offering campaigns a multi-line, admitted insurance product that will cover …
November 23, 2009
A series of violent storms struck the west coast of England, beginning last Thursday. Cumbria, the County just below the Scottish border, was the most severely affected area, where heavy rain caused extensive flooding in a number of towns. At …
November 23, 2009
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Swiss-based Mondial Assistance International AG (MAI) and its U.S. subsidiary, New York-based Jefferson Insurance Company. The outlook for …
November 23, 2009
Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Crum & Forster Insurance Co. and related entities to ‘A-‘ from ‘BBB+’. S&P also affirmed its ‘BBB-‘ counterparty credit rating on Fairfax Financial Holdings Ltd. …
November 23, 2009
Risk Management Solutions has issued a bulletin that presents several possibilities concerning the economic losses from the floods, which have caused extensive damage in northwest England [See IJ web site – https://www.insurancejournal.com/news/international/2009/11/23/105496.htm]. The catastrophe modeling firm notes that the floods …