Sable Insurance Company received an “R” FSR from S&P. The company was placed into conservation in May by the California Department of Insurance, relating to an insolvency of more than $12.9 million. A subsidiary of Reliance National Indemnity Co. and …
With over a year remaining on the November 2002 deadline, 25 state legislatures have enacted reciprocal producer licensing laws while bills in another 11 states are awaiting the governors’ signatures. The producer licensing legislation passing in states around the country …
Not surprisingly, compensation continues to be the single largest agency expense. The average independent agency in the U.S. spent between 62.2 percent and 66.3 percent on compensation in 2000, according to The Middleton Group’s biannual Compensation Survey. +20% CT DC …
Less than half of the states are likely to have their own privacy rules in place by the July 1 deadline imposed by the Gramm-Leach-Bliley Act (GLBA), a survey conducted by the National Association of Mutual Insurance Companies (NAMIC) shows. …
Calabasas, Calif.-based Amwest Insurance Group Inc. recently announced that its subsidiary, Amwest Surety Insurance Company (Amwest Surety), had agreed to be placed under an Administrative Order of Supervision by the Director of Insurance for Nebraska, the state where Amwest Surety …
Commissioner Harry W. Low announced today the conservation of Sable Insurance Company, due to its insolvency. Sable, which is domiciled in California and headquartered in San Francisco, is a wholly owned subsidiary of Sable Insurance Holding Company. Sable Insurance Holding …
Standard & Poor’s (S&P) revised its financial strength rating (FSR) on Amwest Surety Insurance Co. (Amwest Surety) to “R” from “CCCpi.” S&P took this rating action after Amwest Surety consented to be placed under an administrative order of supervision by …
Calabasas, Calif.-based Amwest Insurance Group Inc. announced that the company has been unable to reach an agreement with its reinsurer on terms that would enable it to obtain necessary regulatory approval for such transaction. Consequently, Amwest Surety Insurance Co. consented …
Naysayers and the prophets of doom and gloom aside, the powerful economy of the Lone Star State is not likely to fade anytime soon. In fact, just the opposite is more probable. And that is clearly good news for the …
In a move to expand its product base, John Hancock Financial Services Inc. has put together a strategic partnership with Compass Bancshares Inc. to sell annuities, mutual funds and insurance, according to a Yahoo financial report. A Sunbelt-based financial holding …
