While the National Association of Insurance Commissioners is considering changing the accounting rules for finite reinsurance transactions, Massachusetts is proceeding with a tightening of its own reporting requirements. Massachusetts Insurance Commissioner Julianne Bowler said her state will now require that …
Massachusetts insurance company trade associations and companies recently filed a friend of the court brief defending the reforms of the state’s auto insurance system pursued by Insurance Commissioner Julianne Bowler, which are being challenged in a lawsuit before the Massachusetts …
State regulators and auto insurance companies doing business in Massachusetts are opposed to a legislative proposal that would impose $15 million in new surcharges on insurers to pay for police training. Insurance companies say the new fee would likely be …
Connecticut Gov. M. Jodi Rell signed landmark legislation that makes Connecticut the first state to recognize same-sex civil unions without court pressure. It joins Vermont and Massachusetts as the only states with laws that provide far-reaching benefits to same-sex couples. …
Rex Frazier The Personal Insurance Federation of California announced that Rex Frazier, former California deputy insurance commissioner for policy and research and chief of the Legislative Bureau, has joined PIFC as vice president and general counsel. While serving at the …
Nuts & Bolts: ISO introduced a new insurance program to protect financial institutions from employee dishonesty, forgery, computer crime, kidnap and ransom, and safe-deposit liability. The program includes policy forms and endorsements, underwriting rules, loss costs (projections of future claims) …
While the National Association of Insurance Commissioners is considering changing the accounting rules for finite reinsurance transactions, Massachusetts is proceeding with a tightening of its own reporting requirements. Massachusetts Insurance Commissioner Julianne Bowler said her state will now require that …
Massachusetts Insurance Commissioner Julie M. Bowler has approved changes in the way drivers receive discounts and surcharges to their auto insurance policies based on their driving history beginning in 2006. The revised Safe Driver Insurance Plan will provide discounts for …
Fitch Ratings has affirmed the ‘BBB’ long-term issuer and senior debt ratings of the Commerce Group Inc. (CGI). Additionally, Fitch has affirmed the ‘A’ insurer financial strength ratings on CGI’s four insurance subsidiaries (see list below). The Rating Outlook is …
The Commerce Group Inc. in Webster, Mass. reported 2005 first quarter net earnings were $58.0 million, or $1.72 per diluted share, compared to net earnings of $51.0 million or $1.56 per diluted share for 2004. Included in the 2005 first …
