A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Iowa-based Toyota Motor Insurance Company (TMIC), both with stable outlooks. The ratings reflect the company’s “adequate capitalization and improved operating performance,” …
President Barack Obama will press BP executives this week to set up an escrow account to pay damage claims by individuals and businesses hurt by the Gulf of Mexico oil spill disaster. The move comes as Obama, who will address …
BP said the oil spill in the Gulf of Mexico had already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days. London-based BP said …
The chances of BP declaring bankruptcy to deal with oil-spill claims are remote for now, bankruptcy professionals said, although that option would be open to the company if liabilities became overwhelming — and that very much depends on when the …
Twenty-nine workers hired for oil spill recovery tasks have complained along with 42 others of diverse ailments including nausea, vomiting and flu-like symptoms since May 2, state health officials reported. Several of those complaining of problems were treated and released …
A proposal to shield Mardi Gras float-builders from some liability claims for accidents on the parade route was scuttled by a Louisiana Senate committee after opponents argued the state shouldn’t give such protections to private companies. Rep. Jeff Arnold, D-New …
Property appraisers from three Panhandle counties and a state representative say the Legislature should allow tax appraisers to lower coastal property values immediately because of the oil spill. Appraisers from Escambia, Santa Rosa and Okaloosa counties and Rep. Dave Murzin …
Imagine you live in a town where anyone who dines out is required to buy a $200 bottle of champagne with their meal. That sounds crazy, but it is essentially what is happening to insurers in Michigan, where they are …
The Louisiana Department of Insurance has issued a Cease and Desist Order against Shel St. Clair and Richard Rinalo, doing business as Integrity Claims Consulting and/or Red River Insurance Construction. The department alleges the pair have been conducting business in …
Louisiana Department of Insurance Fraud Section Investigators served American Trade Association, its 13 companion companies and 14 personnel with cease and desist orders on June 7, 2010, for selling unauthorized insurance in Louisiana. Louisiana’s action follows regulatory moves against ATA …
