Florida-based Main Street America Group reported it achieved a $43.6 million underwriting profit in 2008, the largest in its 85-year history and 38 percent higher than its 2007 underwriting profit of $31.7 million. The super regional property/casualty carrier’s corporate combined …
Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner Ken Ross said he has disapproved rate filings for seven insurers …
Last week, Michigan Insurance Commissioner Ken Ross met with Japanese officials to discuss how the agency regulates automobile insurance in Michigan. The Michigan officials met with Kunio Nakajima, director of Government Compensation Office, Accidents Compensation Division, Road Transport Bureau and …
The impact won’t be clear for a couple of days, but major flooding along two eastern Iowa rivers has local and county officials preparing for the worst. The major floods of last summer left a lasting impression on the eastern …
A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of GMAC Direct Insurance Company of Maryland Heights, Mo. and assigned an NR-5 (Not Formally Followed) to the FSR and …
Sickened consumers who sued the peanut processor blamed for a national salmonella outbreak could have trouble recovering damages from Virginia company accounts because assets listed in a bankruptcy filing will likely go to other businesses that bought its products. Lynchburg-based …
Marsh Marsh & McLennan Companies Inc., the No. 2 global insurance broker, said the 2008 restructuring at Marsh Inc., its flagship insurance brokerage unit, was on track to generate annual savings of $200 million, and it plans further spending cuts …
Marsh Marsh & McLennan Companies Inc., the No. 2 global insurance broker, said the 2008 restructuring at Marsh Inc., its flagship insurance brokerage unit, was on track to generate annual savings of $200 million, and it plans further spending cuts …
Automobile fatalities declined in 40 states in 2008, a sign that traffic deaths could dip to their lowest levels in four decades. The Governors Highway Safety Association said that vehicle deaths dropped in 40 states and the District of Columbia …
GAO compared the number of NFIP policies in a given area, as of September 2006, with the total number of county flood declarations from January 1980 to June 2008, cumulative flood claims payments from January 1978 to April 2008, and …
