Nine states have reached a $7 million settlement with New York-based insurance broker Marsh, Inc., Marsh & McLennan Companies, Inc., resolving a four-year investigation into Marsh’s role in a nationwide bid rigging scheme. Marsh allegedly made collusive arrangements whereby brokers …
Monarch Insurance Services Inc., a 26 year-old Hawaii-based company, has purchased Bishop Insurance Agency, a division of American Savings Bank. The exact purchase price was not disclosed. Monarch will focus on providing excellent customer service to the existing Bishop customers. …
Hawaii Gov. Linda Lingle is asking President Bush to declare Oahu and Kauai disaster areas to help the islands recover from recent heavy rains, flooding and high winds. Lingle said on Christmas Eve, more than 500 Oahu residents had reported …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B+’ (Good) from ‘B++’ (Good) and issuer credit rating (ICR) to “bbb-” from “bbb” for Omaha-based Cooperative Mutual Insurance Company, and has revised its outlook on both ratings to …
The rains have subsided and now residents of Oahu and Kauai are cleaning up and assessing the damage from last weekend’s downpours. Ray Lovell, state Civil Defense spokesman, said personal property damage on Oahu alone was estimated at roughly $1.6 …
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. Baby Products MarketScout: www.marketscout.com gives agents access to a products liability market for baby products. …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit ratings (ICR) to “aa” from “a” of Allianz Global Corporate & Specialty, North America, which consists of Allianz Global Risks …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of First of Hawaii Group and its members. The outlook for all ratings is stable. (See below for a detailed …
Those seeking a place to live, work or raise a family in a safe and secure environment should consider the Pacific Northwest, according to the fifth annual Most Secure U.S. Places to Live rankings from Farmers Insurance Group of Companies. …
An estimated 340 Maui properties could be affected by plans by federal officials to revise maps of flood-prone areas. Such a change could force flood insurance rates to increase substantially. Carol Tyau-Beam, Hawaii coordinator for the National Flood Insurance Program, …
