The Zurich Financial Services Group announced that its subsidiary Zürich Beteiligungs-AG (Deutschland) has signed an agreement to acquire car warranty insurer Real Garant Versicherung AG from ADAC-Schutzbrief Versicherungs-AG with retroactive effect as of January 1, 2007. The purchase price was …
The Insurance Council of Texas (ICT) announced it has joined the Houston Police Department in a public safety campaign aimed at preventing auto thefts and auto burglaries. The program involves the creation and distribution of signs that read, “SECURE your …
The Property Casualty Insurers Association of America (PCI) elected new officers during its annual meeting in Boston today. Robert Joyce, chairman and chief executive officer of Westfield Group, was elected as the association’s new chair; John Blackburn, CEO of Country …
Bishop Michael Cote of the Diocese of Norwich, Conn. says a settlement of $170,000 will be paid to a Pawcatuck man who claims he was molested by a priest in a Stonington church. The word of the settlement came in …
The Florida Office of Insurance Regulation signed Consent Orders allowing four companies to assume a total of 173,000 policies from the Citizens Property Insurance Corp., the state’s insurer of last resort. American Integrity Insurance Co. of Florida, Argus Fire & …
LUXURY AND SAFETY Not always the same thing FINDING COMMON GROUND Surplus lines execs debate issues
Insurance industry associations in California are hoping to quell concerns stirred up they say by the media and politicians that indicate homeowners’ policies would be cancelled because of the wildfires. The Association of California Insurance Companies, Personal Insurance Federation of …
Total property losses from the Southern California wildfires have not yet been tallied, but Craig Weber and Donald Light, senior analysts at Boston-based financial research and consulting firm Celent said it’s already “go time for insurers.” According to the analysts, …
The first moves toward competitive rating for auto insurance in Massachusetts indicate that rates for drivers insured by insurers with small market share could drop an average 2.5 percent, while rates for drivers in the state’s high risk pool could …
The countrywide prospective return on equity for the homeowners line of insurance for 2007 is 7.0 percent, up from 5.4 percent in 2006, according to an analysis by Aon Re Global, a unit of Aon Corp. The year-over-year improvement in …
