Standard & Poor’s has lowered its counterparty credit and financial strength ratings on Traders Insurance Co. (Traders) to ‘Bpi’ from ‘BBpi’. “The rating action is based on the company’s weak and volatile operating performance, limited operating scope, and decline in …
According to speakers at the Society of Insurance Research’s annual meeting, the strategic challenges confronting insurers include the rapid pace of change, terrorism, asbestos, the need to reform the tort system, poor financial results, weak balance sheets, the need for …
Richard Swoy, chairman of Superior Access Insurance of Irvine, Calif. announced the addition of an “A++ XV” Superior A.M. Best rated carrier offering professional liability coverage nationally. Quotes are available on-line and applications can be downloaded on a 24-hour basis. …
Thirty-five states have adopted an approved Insurance Services Office (ISO) mold limitation for homeowners coverage, which allows insurers to exclude coverage for loss caused by mold and wet or dry rot, unless the conditions result from a covered peril. According …
The Insurance Departments of several Midwestern states have rushed to assure policyholders that Conseco’s long anticipated bankruptcy filing, announced yesterday, will have minimal impact on their investments. The regulators explained that while the main holding company has filed for chapter …
Randy Blumer, Wisconsin’s Deputy Comissioner of Insurance, recently received the highest individual honor given by the National Association of Insurance Commissioners, the Robert Dineen Award, at its winter meeting in San Diego. Blumer was recognized for outstanding achievement as a …
S&P’s Ratings affirmed its ‘BBBpi’ counterparty credit and financial strength ratings on Employers Mutual Casualty Co. and related pool members (collectively referred to as EMC) based on the companies’ improving operating performance, partially offset by declining capitalization and high common …
The Missouri Department of Insurance (MDI) has been re-accredited for five years by the National Association of Insurance Commissioners, who certified the MDI’s work on monitoring the financial health of insurers and protecting consumer interests. The announcement was made by …
Eugene Cox, Bermuda’s Finance Minister, reacted angrily to calls from several state officials, including California Treasurer Phil Angelides, to drop 10 “offshore” companies, including ACE and XL, from Standard & Poor’s 500 stock index. The demands are the latest round …
National Association of Independent Insurers Counsel Ann Weber has asked Iowa’s Insurance Department to delete a sentence that the NAII feels, “could open the door for some auto repair shops to charge a fee for modifying competitive crash parts that …
