ProBuilders The ProBuilders risk retention group offering general liability insurance for builders and contractors will stop accepting new business and non-renew most of its 1,800 policies as of March 1. According to Bill Tepe, chief financial officer for NationsBuilder Insurance …
New Jersey-based insurer Selective Insurance Group Inc, posted a fourth-quarter profit of $20.6 million, up from a $14.4 million loss in the year-ago quarter. For the year, earnings were $36.4 million, down from $43.8 million in 2008. “In 2009, our …
Atlanta-based specialty insurer American Safety Insurance (ASI) has hired several new underwriters at regional locations throughout the country. In its New Jersey office, Robert Williams joins ASI as a senior excess casualty underwriter. Williams has more than 20 years of …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies, its pooled members and Bermuda-based CastlePoint Reinsurance Company Limited are unchanged. Best …
Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New Jersey. The agreement calls for New …
A new insurance industry study has found that state laws banning the use of handheld devices to make calls or send text messages while driving have not resulted in fewer vehicle crashes. The study, released Friday by the Highway Loss …
Great American Insurance Group’s Executive Liability Division (ELD), based in Schaumburg, Ill., appointed Synergy Professional Associates of Kinnelon, N.J., as its national production coordinator for Multi-Employer/Taft-Hartley Plan Fiduciary Liability Insurance. Great American’s ELD has been providing management liability insurance for …
United Property & Casualty Insurance Co. in Florida said it is seeking approval to write homeowners insurance in Massachusetts, Connecticut, Rhode Island, New York, North Carolina, South Carolina and New Jersey. The company, which opened for business in 1999, currently …
Torus has appointed Carl Groth as Group Chief Risk Officer with immediate effect. He is based in New Jersey and reports to Chief Executive Clive Tobin. “Groth will drive the development of a comprehensive and integrated enterprise risk management program …
In a victory for ratings agencies, a U.S. judge Tuesday dismissed claims against Moody’s Corp. and McGraw-Hill’s Standard & Poor’s in litigation over nearly $100 billion of Lehman Brothers Holdings Inc. mortgage-backed securities. Investors had accused the agencies of serving …
