The Michigan Senate recently advanced a bill to make it more difficult for outsiders to take over the domestic insurer Fremont Michigan InsurCorp. The measure, which passed the Senate 27-10 and was sent to the House Insurance Committee, is a …
A fund that helps Wisconsin health care providers pay medical malpractice claims is in poor financial shape after lawmakers raided $200 million to balance the budget, auditors have warned. The Injured Patients and Families Compensation Fund also has been negatively …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of VICTORE Insurance Company (VIC) of Oklahoma City, both with stable outlooks. The ratings reflect VICTORE’s current “modest underwriting leverage, sound balance …
Workers’ compensation insurer, United Heartland, in New Berlin, Wis., has appointed Rick Bartelme as director of Loss Control. Bartelme is responsible for implementing United Heartland’s comprehensive approach to loss control, which involves customizing a results-based program to each company and …
A judge in Wisconsin has sentenced a former insurance executive to prison time for bilking his company out of more than $1 million in phony claims. U.S. District Judge Barbara Crabb told Douglas Nickerson she was glad he took responsibility …
Capitol Insurance Companies (Capitol), a Middleton, Wis.-based national provider of specialty property-casualty insurance and commercial surety products, reported a strong year of underwriting profitability for the year ended Dec. 31, 2009. Capitol posted a combined ratio of 93.9 percent based …
State regulators are taking control of some of U.S. bond insurer Ambac Financial Group Inc.’s worst assets, the company said Thursday, in an action affecting some $35 billion of assets. Regulators in Wisconsin, where Ambac’s main insurance unit is legally …
Markel Corporation promoted Timberlee Tamraz Grove to chief operating officer of Markel Specialty. In addition to her new role, she will remain president of Markel American Insurance Company in Pewaukee, Wis. As COO, Grove will oversee the operations of Markel …
Minneapolis-based MMIC Group has promoted Jeff Pearson to vice president of underwriting. Pearson joined MMIC as senior underwriting manager in 2003. He has worked in the insurance industry for more for 22 years. Pearson began his career as an underwriter …
Jay Patel stands behind the counter at his Discount Liquors store here on Lake Weiss, waiting as a customer tries to decide just how much Jack Daniels he can afford. “Not that one,” the young man says as Patel reaches …
