State Farm Mutual Automobile Insurance Co.is the first insurer to submit an application to offer an program that rewards California drivers who voluntarily drive fewer miles with lower auto insurance rates. State Farm is the first insurer to submit a …
A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating to “a” from “a-” of Bermuda-based Hatherley Insurance Ltd., both with stable outlooks. The ratings reflect Hatherley’s “strong risk-adjusted capitalization, excellent …
A.M. Best Co. has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating of ‘A’ (Excellent) of United Educators Insurance, a Vermont-based Reciprocal Risk Retention Group (UE), with stable outlooks. The ratings reflect …
The Arkansas Supreme Court has affirmed a lower court order certifying class action status in a case involving an insurer’s depreciation practices in property claims against “actual cash value” homeowners policies. In Farmers Union Mutual Insurance Company v. Randall and …
Flagstone Reinsurance Holdings announced from its Luxembourg headquarters that Mark Byrne has decided to step down as Chairman of the Board of Directors. He will, however, continue to serve as a non-executive member of the Board of Directors of the …
“Ordnance Survey (OS) data is now publicly available for free, giving insurers access to crucial information to aid risk assessment,” states a bulletin on the Lloyd’s web site (www.lloyds.com). Making the detailed maps available to the industry marks the end …
An insurance organization says a windstorm that brought two weak tornadoes, rain and hail to the western Denver suburbs last July caused $768 million in insured losses to vehicles and homes. The Rocky Mountain Insurance Information Association said that it’s …
A former executive at Rhode Island’s dominant workers’ compensation insurer was acquitted Friday on a charge that he deceived state regulators about companies that were receiving discounted premiums. Superior Court Judge Edwin Gale acquitted David Clark, a former vice president …
PowerGuard Specialty Insurance Services—a managing general agent and Lloyds cover holder specializing in wind and solar energy industries—has released its second generation PowerCLIP Warranty program. In addition to transferring risk, the PowerCLIP warranty solution strengthens balance sheets, improves financial results …
The U.S. Treasury is re-looking at plans to float the Asian unit of AIG in case a bid by Prudential to buy life insurer AIA fails, two British newspapers reported on Sunday. Prudential boss Tidjane Thiam has been struggling to …
