South Carolina News

Why Bankruptcy Rates Vary By State

State Policies, More Than Differences Among People, Tend to Influence Bankruptcy Rates Twenty-four percent of agents and brokers have had business customers go into bankruptcy in the past two years; another 24 percent have had customers file for personal bankruptcy, …

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. Vacant Property Market Detail: American Management Corp. offers property protection to owners of residential and …

How to Help Clients Work Through the Challenges of Business Bankruptcy

Bankruptcy. It’s a word agents and brokers will need to get used to hearing from their business clients. It’s not just occurring on Wall Street; it’s happening every day on Main Streets across the country and in industries as broad …

Ratings Recap: Int’l. General, SALAMA

A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based International General Insurance Company Limited (IGI). Best also affirmed the ICR of “bbb-” of International General Insurance Holdings Limited …

St. Johns Enters South Carolina Homeowners Insurance Market

St. Johns Insurance Co., a Florida domiciled property and casualty insurer, has expanded its presence into the South Carolina homeowner insurance market. Insuring more than 200,000 policyholders in Florida, St. Johns specializes in personal lines of insurance. Initially, St. Johns …

North Carolina May Increase Safety Oversight of Fireworks Firms

A panel of North Carolina lawmakers began trying to improve fireworks safety last week following a fatal July 4 Outer Banks explosion by approving a bill that would require state oversight for those who transport pyrotechnics and set them off. …

South Carolina Chief Refutes Legislative Audit Critical of Some Insurance Department Work

A report by the auditing arm of the South Carolina Legislature has concluded that the state insurance department overall does a good job regulating insurance companies and their rates but it could do a better job of documenting its decisions …

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 …

Bankruptcy Terms to Know

Bankruptcy: General bankruptcy is a legal process that provides relief to those who can no longer pay all of their debts. The goal of the bankruptcy laws is to give debtors a “fresh start” by releasing debtors from specific debts …

Travelers Insurance Urges Regional Zones, Federal Role for Wind Coverage

One of the nation’s largest insurers has unveiled a plan to shift the authority for regulating rates for hurricane wind coverage from state regulators to an independent federal commission. Mississippi Gov. Haley Barbour and four state insurance commissioners heard Travelers …