While Americans are enjoying the holidays and most have time off from work, holidays are just another day at the shop for vehicle thieves. New Year’s Day was once again the leading holiday for reported vehicle thefts in 2009, while …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings of “aa” of Allianz Global Corporate & Specialty North America (AGCS NA), which includes Allianz Global Risk US Insurance Company, Allianz Underwriters Insurance Company, …
Allstate Corp. has sued Bank of America Corp., its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from Countrywide. Allstate, the largest publicly traded U.S. home …
Peoria, Ill.-based RLI Corp. announcedthat it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding company, Data and Staff Service Co. (DSS) for approximately $137 million in cash. The acquisition is subject to regulatory approval and …
A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Fireman’s Fund Insurance Companies, which includes Novato, Calif.-based Fireman’s Fund Insurance Company and its intercompany …
Itasca, Ill.-based Arthur J. Gallagher & Co.announced it has acquired Tribeca Strategic Advisors LLC located in Mesa, Ariz. Terms of this transaction were not disclosed. Established in 1999, Tribeca is an alternative risk and captive consulting and management company providing …
Enforcement actions taken by the Texas Department of Insurance that became final during November 2010 include 10 license revocations, and fines and restitution totaling $214,632. Copies of Insurance Commissioner Mike Geeslin’s orders may be obtained by contacting TDI’s Public Information …
For the past 10 years I have had the privilege of publishing an end-of-year article in Mealey’s Litigation Report: Insurance that discusses the 10 most significant insurance coverage decisions from the year gone by. Like anything that is done for …
Itasca, Ill.-based Arthur J. Gallagher & Co. has announced the acquisition of Aviation Insurance Holdings Inc., headquartered in Las Vegas. Terms of the transaction were not disclosed. Established in 1977, Aviation Insurance Holdings Inc., trading as Aviation Insurance Services (AIS), …
Survey Finds Agencies Take a Second Look at Hiring Employees With Past E&O Histories Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to agency errors and omissions (E&O) exposures. …
