Oklahoma News

Business Moves

American Safety, Victore Insurance Bermuda-based American Safety Insurance Holdings Ltd.’s American Safety Casualty Insurance Co. (ASCIC) subsidiary has acquired Victore Insurance Co. (VIC), an Oklahoma domiciled admitted insurance company headquartered in Oklahoma City. VIC provides customized bonding solutions for the …

People

LoriAnn Lowery resigned her position as president of Lloyd’s North America after a little more than a year on the job. Lowery took over as Lloyd’s North America president in April 2008, replacing long-time president Wendy Baker. Before joining Lloyd’s, …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Nursing Homes/Assisted Living Facilities Market Detail: U.S. Risk Brokers Inc.‘s Houston office offers an exclusive …

Oklahoma Lawmakers to Study Workers’ Comp Reform Proposals

Workers’ compensation reform proposals will be subjected to legislative scrutiny through an Oklahoma House of Representatives study requested by state Rep. Mark McCullough, among others. McCullough, who has authored several reform measures in recent years, said the study will allow …

Apex Global Partners Opens New Office in Oklahoma City

Dallas-based Apex Global Partners Inc. (AGP) has expanded its employee benefits operations by opening a new office in Oklahoma City. In conjunction with the expansion, AGP appointed Brad Williams as director of Oklahoma business development for the group’s Oklahoma Employee …

Missouri Joins Interstate Insurance Product Regulation Compact

Missouri Governor Jay Nixon has signed HB 577 to have Missouri become the 36th member of the Interstate Insurance Product Regulation Compact (IIPRC). With the addition of Missouri, the current compacting states in the Commission represent close to 60 percent …

Former Oklahoma Commissioner’s Early Release Request Denied

An Oklahoma County judge has denied a request for former state Insurance Commissioner Carroll Fisher for early release from a private prison. State Attorney General Drew Edmondson had opposed the 69-year-old Fisher’s request, which Fisher’s attorney says District Judge Kenneth …

Ratings Roundup: Arch Capital, American Safety, Parkton Re

Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based insurance and reinsurance holding company Arch Capital Group Ltd.(ACGL) and its operating subsidiaries to positive from stable. S&P also affirmed our ‘BBB+’ counterparty credit and senior debt ratings on …

Auto Insurance Verification System Now in Place in Oklahoma

Oklahoma’s new electronic verification system for vehicle insurance is now online and fully operational. Oklahoma Tax Commission spokeswoman Paula Ross says validating insurance electronically gives immediate confirmation that a driver has a valid policy. The system is designed to help …

Oklahoma Fines Company for Ignoring Cease and Desist Order

Oklahoma Insurance Commissioner Kim Holland has fined National Home Protection Inc., which the state insurance department said has failed to respond to a previously issued emergency cease and desist order directing the company to stop selling insurance products in the …