A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Toronto-based Intact Insurance Group, the former ING Canada Group. It includes Belair Insurance Company Inc. of Montreal, Intact Insurance …
Standard & Poor’s Rating Services said today that it affirmed its ‘A-‘ counterparty credit and financial strength ratings on Netherlands-based commercial lines insurer Fortis Corporate Insurance N.V. (FCI), but has maintained its negative outlook. S&P’s action follows the announcement that …
The Association of British Insurers has issued a statement warning that regulators and governments “must not harm other industries, such as insurance, as they deal with the banking crisis.” In a new report, “Restoring Market Confidence”, published ahead of its …
Hartford Financial Services Group said on Thursday that CEO and chairman Ramani Ayer, under pressure from shareholders as the 199-year-old insurer struggles with record losses, would retire by the end of the year. The Hartford, Connecticut-based life and property insurer, …
Michigan’s insurance regulator is reinstating a requirement that insurance companies submit all home and auto insurance documents and forms to the state insurance department for review prior to using them with the public. The order from the Office of Financial …
As Insurance Journal prepares for another Top 100 Independent Property/Casualty Agency List, to be published in our Aug. 3, 2009, magazine, the editors wanted to highlight a few of the current Top 100 agencies. Throughout the coming weeks, InsuranceJournal.com will …
The Obama administration stepped up its push for tougher bank and financial firm rules Thursday, scheduling a briefing for lobbyists, with a focus on insurance oversight, and sending a top regulator to a Senate hearing to discuss plans for regulating …
Standard & Poor’s Ratings Services has revised its outlook on German reinsurer Hannover Rueckversicherung AG and its subsidiaries (collectively Hannover Re) to negative from stable. S&P also affirmed the ‘AA-‘ long-term counterparty credit and insurer financial strength ratings on Hannover …
Former Missouri Gov. Roger Wilson has taken over as acting president and CEO of Missouri Employers Mutual. Wilson began May 31 as the leader of the workers’ compensation firm that employs more than 200 people in offices in Columbia, Kansas …
An insured who voluntarily agrees to pay a settlement that is not dictated by a jury verdict cannot sue its insurance company for bad faith failure to defend, even if the settlement is within the policy limits, the Georgia Supreme …
