West Virginia’s BrickStreet Mutual Insurance Co. said it received word this week that it has been approved to write workers’ compensation insurance in Kentucky. The expansion into Kentucky begins a “new phase of open market competition” for the former state …
The Group of North American Insurance Enterprises (GNAIE) has joined a new coalition of trade associations, representing all sectors of the economy and areas of the financial services arena, that will engage the Financial Accounting Standards Board (FASB) and the …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its U.S. subsidiaries. Best also affirmed the ICR of “bbb” of the parent holding company, …
California Insurance Commissioner Steve Poizner said he is “troubled by the details of the proposal” to sell some assets of the state’s workers’ compensation insurance, State Compensation Insurance Fund (SCIF). Gov. Arnold Schwarzenegger in his 2009-10 May Revision General Fund …
California Gov. Arnold Schwarzenegger is proposing to sell a portion of the state workers’ compensation insurer State Compensation Insurance Fund for $1 billion, Rachel Cameron, deputy press secretary for the governor, confirmed. In his 2009-10 May Revision General Fund Proposals, …
Steamship Mutual, a major Protection & Indemnity (P&I) Club, has released its 2009 Management Highlights. “The visual theme of the Highlights this year is the illustration of Steamship Mutual’s qualities and aims through the beauty and diversity of marine life,” …
Every insured homeowner in North Carolina could shoulder the cost of rebuilding if a massive hurricane hits under a deal taking shape in the Legislature. The legislation (HB1305), expected to be detailed in a House committee this Thursday, aims to …
The American Insurance Association (AIA) has expressed disappointment that the Louisiana Senate chose not to consider asbestos lawsuit reform legislation during the 2009 session. The insurance company trade group, however, has commended the Louisiana Legislature for passing two measures that …
Warren Buffett said Wednesday that the U.S. economy has “no bounce” and will take time to recover, but there is no risk of deflation to push it further into despair. Speaking on CNBC television, the world’s second-richest person also praised …
Siding with domestic insurers, consumer groups and the state insurance regulator, Florida Gov. Charlie Crist today vetoed a bill designed to keep State Farm from leaving and attract other large insurers to the state by deregulating their rates. Crist said …
