OneBeacon Insurance Group has introduced OneBeacon Entertainment as the trade name for its entertainment, sports and leisure business. OneBeacon Entertainment also encompasses Entertainment Brokers International Insurance Services (“EBI”), a managing general agency that OneBeacon acquired in July 2008. The overall …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Mitsui Sumitomo Insurance Company, Limited (MSI), as well as the FSR of ‘A+’ (Superior) and ICR of “aa” …
Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page– don’t cheat!) were developed based on news stories published by InsuranceJournal.com in 2010. Good luck! 1. …
Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits, New York will receive $5.5 million and …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of Texas-based United Services Automobile Association (USAA) and its property/casualty and life/health subsidiaries. Best also affirmed the debt rating of …
Allstate has filed its seventh lawsuit this year against what it says are medical corporations committing fraud in New York State. The $1.9 million suit claims that three medical corporations in the state were owned and operated by non-physicians who …
Boston-based specialty insurer ProMutual Group has named Katharine Gould as public relations specialist. Gould will assist with public relations activities including writing, researching and responding to media inquiries. She joins ProMutual Group with three years of experience in public relations …
Houston International Insurance Group (HIIG) has sold its wholesale insurance broker subsidiary, Southwest Risk LP (SWR), to New York-based, private equity firm GCP Capital Partners LLC (GCP). The terms were not disclosed. HIIG will retain an equity interest in the …
The Minnesota Department of Commerce said it stands to receive more than $2 million in its share of a $146 million settlement with American International Group over misreporting of workers’ compensation insurance premiums. AIG and its workers compensation insurance affiliates …
Allstate Corp. has sued Bank of America Corp., its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from Countrywide. Allstate, the largest publicly traded U.S. home …
