The insurance ratings organization A.M. Best Co. has released reports it says will help buyers of insurance learn about insurers’ rating histories and their financial strengths. These consumer-oriented reports — called AMB Credit Reports – promise insight on auto, home …
The Connecticut Insurance Department this month launched a year-long pilot program that will exempt some complicated commercial rate and form filings from being initially reviewed by the state – although insurers using those forms will still be subject to an …
Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent foreign subsidiaries. “These changes resulted from a reassessment of our …
Preferred Professional Insurance Co. (PPIC), an Omaha-based Catholic-owned medical liability insurance firm, recently announced two additions to its staff: Tricia Bliujus as claims analyst & risk consultant/R.N., and Cathy L. Mlnarik as agency account coordinator. Bliujus will be responsible for …
According to findings from a recently released survey conducted by Accenture, “more than three-quarters of large European insurers expect to spend less than €25 million [$36.27 million] through 2012 on Solvency II compliance.” Over half of those surveyed indicated that …
Standard & Poor’s Ratings Services has published an article which states that Bermuda-domiciled insurance companies will face increasing competition from other regions of the world. The article – “Competing Insurance Domiciles Are Closing The Gap With Bermuda -” notes that, …
Giant international insurer American International Group Inc. saw its shares fall 11 percent today on its acknowledgement that it may have incorrectly valued the effect of the ongoing credit crisis in previous reporting. In a Feb. 11 filing with the …
A group of banks are in early talks about forming a consortium to raise capital for bond insurer Financial Guaranty Insurance Co., the Wall Street Journal reported Tuesday, citing unnamed persons familiar with the situation. The effort is led by …
Turmoil in the bond insurance industry does pose a risk to banks and the broader markets, but the risk to the nation’s largest banks may only be modest, according to letters from federal and state financial regulators to a U.S. …
Troubled bond insurers shouldn’t expect any financial backing from Warren Buffett’s holding company. Buffett told Fox Business News that Berkshire Hathaway Inc. won’t invest in Ambac Financial Group or MBIA Inc. “We could have some kind of insurance transaction with …
