Puerto Rico News

Surety One Rolls Out Embezzlement Protection for Cafe Owners

Raleigh, North Carolina-based Surety One, a member of The Poindexter Group of Companies, announced the national roll-out of its specialty fidelity bond product for coffee/teahouse and cafe owners. Available in $5,000 to $50,000 coverages, Surety One’s specialty coffee business fidelity …

757 Graduates Receive CPCU Designation; Total Now Near 65,000

The American Institute for CPCU honored 757 new graduates of the Chartered Property Casualty Underwriter (CPCU program at the 2008 CPCU conferment ceremony in Philadelphia, Pa., the birthplace of the CPCU designation. The 2008 class brings the number of CPCU …

Bank Insurance Brokerage Earnings Break Highest Mid-Year Level

Mid-year earnings from bank insurance brokerage hit their highest level ever in the first half of 2008. Bank insurance brokerage earnings in the first six months of 2008 were $2.12 billion, up 6.4 percent from $1.99 billion in the first …

Goodbye Gustav…Hello Hanna, Ike and Josephine

The good news is that Hurricane Gustav has been downgraded to a Tropical Depression as it moves slowly across northwest Louisiana. The bad news is that Tropical Storms Hanna, Ike and Josephine are gaining speed, according to the National Hurricane …

Nevada Countersignature Law Officially Null and Void

protectionist requirement that served only the self interests of small protectionist agents. The battle to defeat countersignature laws is finally over, now that the July 9, 2008, deadline has passed for Nevada to file a petition of appeal with the …

Ratings Recap: XL, Milli Re, One Beacon (Bermuda), Seguros Triple-S

Fitch Ratings has affirmed XL Capital Ltd.’s ratings as well as those of its P/C (re)insurance subsidiaries, including the Issuer Default Rating (IDR) for XL, at ‘A’, and the Insurer Financial Strength (IFS) rating of lead (re)insurance companies XL Insurance …

Bank Insurance Brokerage 1Q Earnings Hit Second-Highest Level Ever

Quarterly earnings from bank insurance brokerage hit their second-highest level in first quarter 2008. Bank insurance brokerage earnings in the first three months of 2008 were $1.078 billion, up 8.6 percent from $993.3 million in the first quarter of 2007 …

Ratings Recap: Tugu, Pacific Indemnity, Torus, SIAT, Farmers Mutual (NZ), MAPFRE (Puerto Rico)

A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of Hong Kong’s Tugu Insurance Company Limited with stable outlooks. Best said: The ratings reflect Tugu’s supportive level of risk-adjusted capitalization, diversified …

Bank Insurance Brokerage 1Q Earnings Hit Second-Highest Level Ever

Quarterly earnings from bank insurance brokerage hit their second-highest level in first quarter 2008. Bank insurance brokerage earnings in the first three months of 2008 were $1.078 billion, up 8.6 percent from $993.3 million in the first quarter of 2007 …

Anti-Bias Laws Cover Retaliation Claims, U.S. Supreme Court Rules

Employees who complain of racial bias in the workplace and then face retaliation can sue under a post-Civil War-era law barring discrimination, the U.S. Supreme Court ruled in late May. In a second similar decision, the high court ruled that …