A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Hanover Insurance Group Property and Casualty Companies of Worcester, Mass. and its members. Best also affirmed the ICR of …
A U.S. judge has ruled in favor of insurer Allianz in a dispute with World Trade Center developer Larry Silverstein about recovering money from third parties if they are found to be at fault in the September 11, 2001 attacks. …
Fitch Ratings has upgraded its ratings on the Massachusetts-based Commerce Group, Inc. (CGI) and its subsidiaries, and has assigned them a stable outlook: The following ratings are affected: Commerce Group, Inc.: Issuer Default Rating (IDR) to ‘A’ from ‘BBB+’; $300 …
Standard & Poor’s Ratings Services said that its ratings and outlook on Spain’s Mapfre S.A. (A+/Stable/–; core operating entities Mapfre Empresas, Compania de Seguros y Reaseguros, S.A. and Mapfre Re Compañía de Reaseguros, S.A. are rated AA/Stable/–) and on Massachusetts-based …
Massachusetts insurance agents and one of the state’s biggest auto insurers are going to court seeking to overturn rules that they say give new carriers an unfair advantage under the state’s new managed competition system. They are also challenging a …
The Hanover Insurance Group Inc. has extended the reach of its schools program, called Avenues Education Advantage, to its independent agents in Georgia, Kansas, Maryland, and Virginia. The program offers specialized protection for private schools, colleges and small public schools. …
In a joint announcement Spain’s largest insurer, MAPFRE S.A. and The Massachusetts-based Commerce Group, Inc. announced that MAPFRE has completed its acquisition of Commerce. The parties reached agreement on a deal last October (See IJ web site – https://www.insurancejournal.com/news/national/2007/10/30/84650.htm). Along …
Massachusetts businesses, pubs and state officials, including Lt. Governor Timothy Murray, are launching a new campaign to discourage drink driving and encourage the use of designated drivers. The Arbella Insurance Group Charitable Foundation is the title sponsor of Murray’s “Good …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Travelers Insurance Companies and its P/C members. Best also affirmed the debt ratings of “a-” on senior debt, “bbb+” …
A Massachusetts employer is not entitled to recover any increased workers’ compensation costs from a third party responsible for injuring its employee. The Massachusetts Supreme Judicial Court ruled that the state’s economic loss doctrine bars the recovery in tort of …
