The South Carolina Department of Insurance is celebrating issuing its the 200th captive insurance company license. State Insurance Director Scott H. Richardson presented the license to Hardin Construction Co. of Atlanta, Georgia at a special dinner ceremony in Charleston sponsored …
Louisiana Workers’ Compensation Corporation (LWCC) announced it will pay a $7.5 million dividend to qualifying policyholders in February. The pay out will bring LWCC’s cumulative total dividend paid to policyholders over the past six years to more than $121 million. …
Writedown woes hit European insurers again on Tuesday as life insurers Legal & General Plc and Aegon NV predicted more companies would default on loans, sending insurance shares down. Legal & General more than doubled its credit default reserves to …
London-based insurer and reinsurer Beazley Group is acquiring Boston-based First State Management Group, an underwriting manager specializing in excess and surplus lines commercial property insurance for $35.4 million in cash. First State is a subsidiary of The Hartford Financial Service …
Natural catastrophes and financial upheaval drove a sharp reversal in the property/casualty industry’s fortunes in 2008, and the effects spread to A.M. Best Co.’s rating activity, as upgrades barely outpaced downgrades after a strong positive trend in 2006 and 2007, …
One week after Michigan Gov. Jennifer Granholm called on auto insurance companies to freeze their rates, five insurers have said they will comply. In a Feb. 3 order, Granholm asked each automobile insurance company doing business in Michigan to pledge …
Mississippi Insurance Commissioner Mike Chaney has upheld the efforts of the state’s wind insurance pool to collect millions of dollars in past assessments from six insurance companies. The insurers had claimed that the Mississippi Windpool Underwriting Association was wrong to …
The parents of an Iowa teenager killed 10 years ago in a van crash in southern Wisconsin have filed a lawsuit seeking damages for their son’s death. Albert and Deanna Roberts of DeWitt, Iowa, filed the lawsuit against Iowa Mutual …
A Des Moines-based insurance company has announced it will eliminate 60 jobs as part of the company’s business plan. Officials with American Enterprise Group Inc. said that 51 of the layoffs will come from Des Moines and nine will come …
An investigation by the New York Insurance Department has found that auto insurers in the state did not engage in a widespread effort to steer consumers to certain auto body shops – a violation of state law. However, in some …
