A newly-formed Mississippi company with backing from a Florida insurer and local private investors including six independent agencies will begin writing homeowners policies on the coast in Mississippi. Gulfport-based Coastal American Insurance Co. says it will give coastal Mississippians a …
On the final day of this legislative session, Florida lawmakers passed omnibus legislation that aims to bring more control over homeowners insurance costs, raises the state’s minimum capital requirements for insurers, cracks down on errant public adjusters, allows insurers more …
The Arizona Legislature has approved a bill to privatize the state workers’ compensation insurer as an Arizona mutual insurance company, beginning Jan. 1, 2013. The State Compensation Fund (SCF) was created in 1925 by the legislature to provide a ready …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Lloyd’s Syndicate 1225, which is managed by AEGIS Managing Agency Limited , both with stable outlooks. Best pointed out that the …
After significant catastrophe losses in first quarter 2010, U.S. property/casualty insurers and global reinsurers are hoping their balance sheets don’t face further financial risks, even as conditions appear ripe for the upcoming hurricane season to be potentially as active as …
Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit rating on Bermuda-based insurance and reinsurance holding company Alterra Capital Holdings Ltd., which was formerly known as Max Capital Group Ltd. S&P also said that it …
To alleviate concerns about homeowner under-insurance, the California Department of Insurance has proposed regulations governing standards and training for estimating replacement value on homeowners’ insurance. CDI hosted a hearing to garner feedback on the regulations on May 17 in Los …
California Insurance Commissioner Steve Poizner announced that 1,010 insurance companies — more than 75 percent of insurers licensed to do business in California — have agreed to forgo future investments in 50 companies identified as doing business with Iran’s nuclear, …
Florida’s property insurance companies haven’t suffered hurricane losses for nearly five years, but many claim to be losing money even while collecting hefty premiums. It’s a complex paradigm for almost anyone to follow. “We keep going round and round and …
The Kansas Legislature’s 2010 session has been a successful one for property/casualty insurers, according to the insurer trade group, the American Insurance Association (AIA). Among the issues that had concerned P/C insurers were proposals to limit or eliminate the insurer …
