California Insurance Commissioner Steve Poizner said he is “troubled by the details of the proposal” to sell some assets of the state’s workers’ compensation insurance, State Compensation Insurance Fund (SCIF). Gov. Arnold Schwarzenegger in his 2009-10 May Revision General Fund …
California Gov. Arnold Schwarzenegger is proposing to sell a portion of the state workers’ compensation insurer State Compensation Insurance Fund for $1 billion, Rachel Cameron, deputy press secretary for the governor, confirmed. In his 2009-10 May Revision General Fund Proposals, …
Every insured homeowner in North Carolina could shoulder the cost of rebuilding if a massive hurricane hits under a deal taking shape in the Legislature. The legislation (HB1305), expected to be detailed in a House committee this Thursday, aims to …
The American Insurance Association (AIA) has expressed disappointment that the Louisiana Senate chose not to consider asbestos lawsuit reform legislation during the 2009 session. The insurance company trade group, however, has commended the Louisiana Legislature for passing two measures that …
A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and issuer credit rating of “a-” to CastlePoint Florida Insurance Co. (CFIC) of Fort Lauderdale. The rating firm said the outlook assigned to these ratings is stable. CFIC …
Ironshore Inc. reported it has raised equity financing of up to $300 million to support the continued expansion of its specialty insurance business. In connection with this financing, Ironshore said it has entered into an agreement with the private equity …
Wisconsin lawmakers are considering legislation that would increase costs for low- and middle-income insurance consumers, according to the National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI). Approximately 20 to 25 percent of …
Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise around $2 billion. U.S. private …
Amerisafe Inc., a DeRidder, La.-based specialty writer of high hazard workers’ compensation insurance, has appointed Brendan Gau as executive vice president and chief investment officer. Gau’s appointment is effective June 23. Prior to joining Amerisafe, Gau previously was employed by …
The Obama administration’s views on insurance regulation are in keeping with those of many within the property/casualty insurance industry as well as state regulators who now regulate the industry. Most in the industry are happy that the Obama Treasury Department …
