Lawmakers approved using $29 million in taxpayer money as a financial incentive to bring five new property insurance companies to Louisiana. The Department of Insurance required approval from the Legislature’s Joint Budget Committee before they could issue checks to qualified …
Fitch Ratings has issued a report indicating that it is maintaining a stable outlook on the UK non-life insurance sector, “as insurers remain on the path of underwriting discipline in the face of more challenging market conditions.” Fitch’s report notes …
Maintaining underwriting discipline and keeping expenses in line with slowing premium growth will pose major challenges to property/casualty insurers in 2008, according to industry analysts. A panel of experts on industry financial performance outlined whether the current slowing of premium …
Standard & Poor’s Ratings Services has announced various ratings actions (see list below) on six financial guaranty insurance companies. “The rating actions were prompted by worsening expectations for the performance of insured nonprime residential mortgage backed securities and CDOs of …
Zurich Financial Services Group announced that OOO NASTA Insurance Company will operate under the global Zurich brand and the name Zurich Retail Insurance Company Ltd. in line with Zurich’s global “One brand, one Zurich” strategy. Zurich acquired a majority stake …
California State Compensation Insurance Fund has named Gary Dunlap program manager for the organization’s Customer Service Center. Dunlap has spent 34 years at SCIF, starting in 1971 as a claims adjuster. His most recent post was manager of the Sacramento …
Mass. Attorney General Martha Coakley has asked for two more auto insurers to defend their proposed 2008 rates at public hearings. Coakley wants Arbella Insurance and Hanover Group to explain their rates for next year when the state shifts away …
Auto insurers in Florida are reminding drivers that Florida law will once again require drivers to carry personal injury protection insurance effective Jan. 1, 2008. Companies are sending notices to policyholders informing them of legislative changes that restore the mandatory …
Louisiana Attorney General-elect Buddy Caldwell said he wants his office free of politics and speedier on issuing guidance on legal matters when he takes office in January 2008. Caldwell, who moves into the job Jan. 14, told the Press Club …
Luis Borovinsky has been named regional assistant real estate manager for California State Compensation Insurance Fund’s Southern California operations. Borovinsky joined the organization’s Santa Ana District Office in 1991 when he was hired as a claims adjuster. His most recent …
