Progressive, one of the largest auto insurance companies in Illinois, made its homeowners insurance product available to be sold exclusively by independent agents in Illinois starting the week of Sept. 19. Initially, the product is being offered exclusively through nearly …
The company which provides $40 million in liability and fiduciary coverage for Foster & Gallagher Inc. claims that insurance is void because of misrepresentation by the Peoria-based mail order firm. St. Paul’s Mercury Insurance Co. filed a motion in U.S. …
Several more Lloyd’s insurers have recently announced the potential impact their underwriting syndiactes face following the terrorist attacks in the U.S. Chaucer Holdings, Plc announced that it expected to incur pre-tax losses of between £8 and £12 million ($11.7 and …
The world’s two largest reinsurance companies, Swiss Re and Munich Re, have practically doubled their estimates of potential losses and have lowered their earnings forecasts as a result of the terrorist attacks in the U.S. Munich Re had estimated losses …
In the face of ever increasing loss assessments from insurers following the terrorist attacks in the U.S., Standard and Poor’s announced that it had downgraded Lloyd’s financial strength rating from “A+” to “A” and Zurich Insurance Co.’s counterparty credit and …
Warren, N.J.-based Chubb Corp. announced that it anticipated losses from the terrorist attacks of September would amount to between $500 and $600 million pre-tax, net of reinsurance. The figures, which include the estimated exposures by all of Chubb’s operating divisions, …
According to a report in the New York Times, engineers have completed a study of the office buildings near the World Trade Center, and have concluded that for the most part they are structurally sound. The report lowers fears that …
The California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division arrested a pair of Sacramento County residents last week on workers’ compensation fraud. Kathleen Anstead was booked into the Sutter County Jail with bail set at $10,000, while Alecia …
For the third year in a row, the California legislature has come up short in its efforts to increase workers’ compensation benefits while enacting badly needed system reforms, according to the Alliance of American Insurers. Commenting on the passage of …
Liberty Mutual Group announced it expects net after-tax loss for the company’s U.S. and global operations will be in the range of $200 to $300 million from the Sept. 11 terrorist attacks. The company is prepared to pay workers’ compensation, …
