earnings News

Health Rates Rose Fast in West

Family health care premiums rose an estimated three to five times faster than earnings for workers in Western states from 2000 through 2009, according to a report issued by the consumer health organization Families USA. In California, for example, family …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Home Builders & Artisans Contractor’s GL Market Detail: Northern Star Management offers access to a …

Best Affirms Ratings on QBE and Operating Companies

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited , Australia’s QBE Insurance (International) Limited and QBE Reinsurance (Europe) Limited, which is based …

Minnesota AG Sues 2 Insurers for Alleged Fraudulent Activity

Minnesota Attorney General Lori Swanson is suing two out-of-state companies for selling allegedly fraudulent health insurance coverage to the uninsured. In an announcement on the AG’s Web site, Swanson said the two companies are “scamming Minnesota citizens struggling with the …

Ratings Recap: Starr Surplus, Wethaq, Unity Re, Ansvar

A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a” to Chicago-based Starr Surplus Lines Insurance Company, a wholly owned subsidiary of Bermuda-based Starr Insurance & Reinsurance Limited and an indirect …

Ex-AIG Financial Exec Cassano Returns to U.S. As Probe Continues

Joseph Cassano has come home to face the music. The former AIG executive closely associated with one of the most sensational collapses in corporate history, recently slipped back into the United States. Under intensifying investigations by the FBI and other …

Ratings Roundup: Progressive Motor, Markel (notes), Service

Standard & Poor’s Ratings Services today said it assigned its ‘A+’ insurance financial strength rating on Progressive Motor Insurance Co. (PMIC); however, the outlook is negative.”The rating on PMIC is based on the support of a guarantee provided by Progressive …

Ratings Recap: Accident & General, Inbursa, Swiss Re Frankona

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Accident & General Insurance Company Ltd. (AGI) of the Cayman Islands, both with stable outlooks. Best then withdrew the …

Companies That Bury Bad News Reap Rewards Over Forthright Firms

Got bad news? It pays to relegate it in a footnote of the press release. Companies that are forthright about bad news end up paying for it more than those that bury it in the press release, a new study …

Best Affirms Rating, Revises Outlook to Stable for HDI, Talanx AG

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of German insurer HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.), the ultimate mutual parent company of Talanx AG, …