Standard & Poor’s Ratings Services said today that it has revised its outlook on the core operating entities of French credit insurance group Coface to negative from stable. The core entities are: — France-based Coface S.A., — Germany-based Coface Kreditversicherung …
Georgia Insurance Commissioner John W. Oxendine said two Macon insurance agents — a father and son– have been arrested after being charged with keeping premiums paid to them for auto and business liability insurance by Goodwill Industries. Broadus W. Marshall …
Europe’s insurance sector has “fared well relative to banks over the past two years,” a new report from Standard & Poor’s Ratings Services notes. As an example, the study – “European Insurers Withstand Global Economic Conditions, But Resilience Will Likely …
The Hawaii State Insurance Division has successfully closed HIH America Insurance Company of Hawaii, a Hawaii workers’ compensation insurance company. Financial problems of its affiliated companies in Australia and California led to the downfall of the company in March 2001, …
The insurance company for the city of Miami Beach has been ordered to pay $5.75 million in damages to the families of a man and the woman he tried to save from drowning. Monticello Insurance Co. had refused to pay …
The participation of two big insurers in the $700 billion financial rescue contradicted the goals of the government program, according to a bailout watchdog. The inclusion of Hartford Financial Services Group Inc. and Lincoln National Corp. “was incongruous with the …
Workers’ compensation insurance rates in California will be relatively stable and increase by an average of only 4 percent in 2010, the Department of Insurance said. The Department’s announcement comes a month after the Workers’ Compensation Insurance Bureau asked for …
The Association of Bermuda Insurers and Reinsurers (ABIR) has elected a new slate of officers for the 2010 and 2011 term. The bulletin said that, as of the beginning of the new year, “Michael Butt, Chairman of the Board of …
One of Florida’s young property insurance companies, Magnolia Insurance Co., has been stripped of its financial rating by rating firm Demotech, Inc. Demotech assigned its Financial Stability Rating of A, Exceptional to Magnolia in October, based on what it said …
A.M. Best Co. has revised its view of the U.S. property/casualty industry’s ultimate asbestos and environmental (A&E) losses downward to $117 billion from $121 billion. Asbestos exposures now are estimated at $75 billion, up from $65 billion, and environmental losses …
