Following the completion of AIG’s acquisition of HSB Group Inc., the FSR on HSB Engineering Insurance Ltd. was upgraded from “AA” to “AAA” by Fitch. Also upgraded and removed from Rating Watch Positive was HSB Engineering’s capital securities rating, which …
The owners of a San Jose, Calif., insurance agency who duped customers out of more than $10 million pleaded guilty Dec. 18 to multiple felony charges in an effort to reduce their prison sentences. Kimberly Morgan, 36, agreed to serve …
Progressive Corp. Chief Executive Peter Lewis is stepping down and will be replaced by Glenn Renwick effective Jan. 1, 2001. Lewis, who has been involved with Progressive for 45 years and served as CEO for 35 years will remain chairman …
Singapore Aviation & General Insurance Co. filed a complaint in Federal District Court in New York to recover damages from Boeing and several other companies it claims to be responsible for the 1997 crash of a Silk Air 737 which …
Max Taylor, who will complete three years in office as chairman of Lloyd’s at the end of this month, will join Aon Corp. beginning Jan. 2, 2001. Taylor is leaving Lloyd’s after a board decision earlier this year to return …
No sooner have the party hats and noisemakers been put away than it’s time for CIWA’s Annual Wholesaler Industry Day. The California Insurance Wholesalers Association will hold its 6th annual event on Jan. 5-6, 2001, at the Hilton La Jolla …
Investigators with the California Department of Insurance Criminal Investigations Branch served a search warrant yesterday at Border Pacific Insurance Services in San Ysidro. The owner of Border Pacific Insurance Services allegedly sold hundreds of phony insurance policies to unsuspecting consumers, …
Civil Service Employees Insurance Group announced the launch of its 2001 Youth Automobile Safety Scholarship for high school seniors residing in California, Utah, Nevada and Arizona. Applicants must be children of full-time or retired public employees. This year, the maximum …
Reliance Group Holdings Inc has agreed with some of its debt holders to a restructuring plan that would send it into bankruptcy court, the Wall Street Journal reported Friday. Pennsylvania insurance regulators are reviewing the plan, and the company would …
Safeco Corp. has named William G. Reed Jr., a member of the insurance and investment company’s board of directors, as chairman and chief executive until a permanent replacement is found. Reed, 61, will take the job Jan. 1, replacing Roger …
