“AA” counterparty credit ratings and FSRs were assigned to the operating companies of St. Paul Fire & Marine Insurance (SPFM) by S&P, which indicated that the rating actions reflect the support of SPFM and its wholly owned subsidiary, United States …
In separate rating actions, Standard & Poor’s (S&P) recently affirmed the counterparty credit ratings and FSRs on the following companies: XL Insurance Ltd. (XLI) and its wholly owned subsidiary, XL Europe Ltd.; and XL Re Ltd. The rating actions reflect …
The “AAA” insurer financial strength ratings (FSR) of the National Indemnity Company and the associated members of the National Indemnity Group, representing the largest component of Berkshire Hathaway Inc.’s insurance operations, were affirmed by Fitch. The other member companies are: …
SB 44, a bill that limits the use of consolidated insurance programs (CIPs), commonly known as wrap-around insurance programs, would raise the cost of construction and be harmful for Nevada consumers, according to the American Insurance Association (AIA). SB 44, …
Arizona has awarded State National Specialty Insurance Co. a certificate of authority for writing multiple lines of insurance. This authorization allows State National Specialty to write casualty, marine and transportation, property and vehicle insurance in the state. Since its acquisition …
The Franklin County [Ohio] Court of Common Pleas granted an order on Feb. 28 placing Acceleration National Insurance Company, an Ohio-domiciled property and casualty company based in Simsbury, Conn., into liquidation. The company had been in court-ordered rehabilitation since Nov. …
The Oregon Senate Business, Labor and Economic Development Committee moved a bill designed to correct a controversial state Supreme Court ruling on pollution exclusions to the Senate floor with a “do pass” vote. SB 440, known as the “Fleming Fix,” …
Tacoma, Wash.-based Labor Ready owes the state close to $500,000 because it misclassified employees when calculating workers’ compensation premiums. Auditors for the Department of Labor and Industries say that the massive temporary agency owes $497,930 in unpaid premiums and more …
Results of an extensive countrywide survey by Progressive Insurance showed that while people ages 18 to 34 were more likely to use the Internet to purchase auto insurance than people ages 35 to 64, a majority of consumers (67.6 percent) …
InsWeb and Allstate Insurance Co. have entered into a two-year service agreement under which Allstate will market its auto, homeowners, renters and condominium insurance products at InsWeb’s online marketplace. Allstate expects to generate customer leads from the online consumers who …
