New York-based AmTrust Financial Services, Inc. has agreed to acquire CyberComp, the workers’ compensation business unit of Swiss Re, in a renewal rights transaction. Serving the workers’ compensation needs of small to medium-sized employers in 26 states, CyberComp distributes through …
North Carolina Governor Bev Perdue has signed into law legislation to shore-up the state’s backup coastal insurer and reduce the liability of private insurers should a major catastrophe strike the state. House Bill 1305 also sets limits on the coverage …
Standard & Poor’s Ratings Services has assigned its ‘A-‘ counterparty credit and financial strength ratings on Max Capital Group Ltd.’s operating insurance and reinsurance companies. S&P also raised its counterparty credit rating on Max Capital Group Ltd. to ‘BBB’ from …
Kentucky Insurance Department has approved vendors with software that can help insurance companies comply with a new law on collecting premium taxes. The new state law (HB 524) requires insurers to use a verified electronic system to assess premium taxes …
Miami-based First Commercial Insurance Co. and its subsidiary have been declared insolvent and ordered liquidated about six weeks after being placed under state control. All policies written by FCIC and its subsidiary, First Commercial Transportation and Property Insurance Co., are …
Bermuda-based PartnerRe Ltd. Has filed a Definitive Proxy Statement with the Securities and Exchange Commission announcing a Special General Meeting of PartnerRe shareholders on Thursday, September 24, 2009. This Special General Meeting relates to the recently announced agreements entered into …
Most consumers of auto and homeowners insurance seem to be happy with their insurers, says a new indsutry study. A new public opinion study by the Insurance Research Council (IRC) reported that 91 percent of respondents with auto insurance said …
Florida workers’ compensation insurers are recommending an overall average rate decrease of 6.8 percent statewide, which state officials said would save employers more than $166 million. Florida Insurance Commissioner Kevin McCarty confirmed that he has received the latest rate filing …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 510, which is managed by R.J. Kiln & Co .Ltd. (R.J. Kiln). Best also affirmed the ICR …
The first hurricane of the 2009 Atlantic season may end up skipping past the United States, leaving insurers to hope that the next ominous storm clouds will come ashore with a silver lining. Insurers can face billions of dollars in …
