Nebraska’s highest court will determine whether a state insurance guaranty fund must cover nearly $1 million in losses suffered by 26 Nebraskans in a life insurance deal. The Nebraska Supreme Court heard arguments this week in the appeal and cross …
Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Hartford Financial Services Group Inc. (HIG) to ‘BBB’ from ‘BBB+’ and its counterparty credit and financial strength ratings on all of HIG’s life (Hartford Life) and property/casualty (Hartford …
Standard & Poor’s Ratings Services has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. and all of its core companies, including State Farm Life Insurance Co. But S&P also revised its outlook …
The National Association of Insurance Commissioner recently issued its annual report on homeowners insurance. The report, based on figures from 2006, the latest year from which data is available, ranks Texas as having the highest homeowners rates in the nation. …
The Association of California Insurance Companies is warning Californians about a trend in the state by local governments to impose taxes on out-of-towners who are in an auto accident. According to ACIC, because the tax does not regard whose fault …
The Board of Directors of the Personal Insurance Federation of California (PIFC) has voted unanimously to accept Allstate Insurance Co. as the newest member of PIFC. Allstate is the first new company to join PIFC in 15 years. Allstate joins …
Western region auto insurer Capital Insurance Group (CIG) has launched a unique promotion to increase its client referral business. The company is offering drivers with CIG auto insurance a Bluetooth headset for free if they recommend a friend to the …
Standard & Poor’s Ratings Services has said that its rating actions on American International Group Inc. and its insurance subsidiaries “have no effect on the ratings on Transatlantic Holdings Inc. (TRH – ‘BBB+’/Stable/–) or any of TRH’s operating subsidiaries.” These …
New York state will try to sell Midland Insurance, which is being liquidated with almost $1 billion of assets and $2.9 billion of liabilities, in the first-ever sale to private investors, the state insurance chief said Wednesday. Midland was both …
The UK’s Prudential Plc and Canada’s Manulife Financial Corp made preliminary offers for American International Group Inc.’s Asian unit, but Prudential’s offer fell short of what AIG wants for the business, sources familiar with the matter said. Chinese insurer China …
