Florida-based Main Street America Group reported it achieved a $43.6 million underwriting profit in 2008, the largest in its 85-year history and 38 percent higher than its 2007 underwriting profit of $31.7 million. The super regional property/casualty carrier’s corporate combined …
A.M. Best Co. has downgraded the issuer credit rating (ICR) to “a-” from “a” of the non-operating holding company, the UK’s AVIVA plc, and the financial strength rating (FSR) to’ A’ (Excellent) from ‘A+’ (Superior) and the ICRs to “a+” …
Beazley Group plc, an insurer of construction and engineering risks in the Lloyd’s market, has established a builders risk and engineered risk capability in the United States. Builders risk, commonly known as contractors all risks (CAR) and erection all risks …
The United States District Court for the District of Columbia has granted the Federal Trade Commission’s request for a preliminary injunction enjoining CCC Information Services Inc.’s merger with Mitchell International Inc. Following the court decision, the two claims services firms …
Federal Reserve Chairman Ben Bernanke Tuesday said leaders from the Group of 20 rich and developing economies should agree early next month on principles to guide nations as they revamp financial rules to prevent future crises. Finance ministers from the …
European Union plans to beef up financial supervision may be replicated globally, though much will hinge on how the United States responds, a top official from the bloc’s executive arm said on Monday. A high-level committee headed by a former …
Rep. Gene Taylor, D.-Miss., isn’t letting opposition by major insurance companies keep him from pushing his plan to make wind coverage for properties available through the federal flood insurance program. Taylor’s proposal — the Multiple Peril Insurance Act of 2009– …
Minorities Destined to Become Majority by Mid-Century Before the 21st century reaches the half-way mark, more than 50 percent of the population of the United States will be represented by a vast cultural mix of people considered to be “minorities,” …
You May Not Know What You Think You Know About Flood Insurance Claims When dealing with claims under flood insurance policies, you may be surprised that many things you think you know are wrong, and, particularly for insureds, many things …
San Francisco-based Wells Fargo & Co. announced its management team for the combined insurance businesses of Wells Fargo and Wachovia Corp. Reporting to Dave Zuercher, group head of International and Insurance Services, are Neal Aton, head of Wells Fargo Insurance …
