Federal legislation designed to streamline licensing for insurance agents and brokers operating in multiple states has been reintroduced in Congress. The legislation (HR 2554), the National Association of Registered Agents and Brokers Reform Act of 2009, or NARAB II as …
After years of wrangling between Republican and Democratic lawmakers in Oklahoma over lawsuit reforms in the state, Gov. Brad Henry has signed into law tort reform legislation aimed at curbing frivolous lawsuits and reducing costs associated with the justice system. …
Legislation aimed at making access to the surplus lines market more efficient and help standardize state insurance regulation has been introduced again in the U.S. House of Representatives. Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., members of the House …
Two domestic property insurers no longer writing in the state — one by choice, the other forced– are the only two Florida insurers negatively affected thus far by a rating agency’s review of small domestic insurers. In a May 21 …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the United Arab Emirates-based Gulf Reinsurance Limited with stable outlooks. “The ratings reflect the company’s excellent projected risk-adjusted capitalization, good projected …
The Swiss Re Group has announced the appointment, effective immediately, of Rudolf Flunger as Head of Insurance & Specialty, the company’s division responsible for commercial insurance, industrial insurance, large corporate risks and specialty re/insurance. Flunger succeeds Agostino Galvagni, who was …
New York’s second-largest medical malpractice insurer is more than $43 million in the hole, according to new regulatory filings, but state regulators are legally forbidden from initiating the process to liquidate or otherwise overhaul the company. The March 31 quarterly …
As it girds for hurricane season, Texas has plenty to worry about. The Texas Windstorm Insurance Association (TWIA) – which provides coverage for high risk coastal properties – has ended up at the brink of insolvency paying Hurricane Ike claims. …
American International Group, Inc. (AIG) announced today that Chairman and Chief Executive Officer Edward M. Liddy intends to step down once the board finds replacements for him. Liddy has recommended that the chairman and CEO roles be separated and, according …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb+” of Canada’s Echelon General Insurance Company. Best also affirmed the ICR of “bb+” of Echelon General’s publicly traded parent, EGI Financial …
