John Blanton Breland, 54, was sentenced Nov. 26 in the San Joaquin County Superior Court to four years in State prison. The sentencing is the result of a guilty plea to two felony counts of embezzlement, one count of theft …
Standard & Poor’s assigned its “BBBpi” financial strength rating on Seattle-based Grange Insurance Assn. The rating action reflects the company’s and group’s extremely strong capitalization and historically favorable reserve development, offset by marginal but improving operating performance. The non-assessable mutual …
Longitude Inc. entered into a strategic relationship with Capital Risk LLC for the development of weather risk management products using Longitude’s Parimutuel Digital Call Auction(TM) (PDCA(TM)) technology. PDCA technology provides new derivatives and risk management products to its customers without …
InsuranceNoodle announced it has begun selling insurance in Mississippi, Nevada, New Hampshire, North Dakota and Utah. With the addition of these five states, the e-broker is now licensed in 45 states and the District of Columbia and reaches 96 percent …
The Consumer Division of Royal & SunAlliance USA announced that its Green Guard insurance program has been expanded and is now available in 41 states. Businesses from small retail garden centers and nurseries to large commercial greenhouse operations are eligible …
The U.S. House of Representatives passed the Terrorism Risk Protection Act (HR 3210) by one vote of 227-193 on the afternoon of Nov. 29. According to the Independent Insurance Agents of America (IIAA), the legislation provides that in the event …
The Specialty Division of Cincinnati-based Great American Insurance Company is now offering an enhanced Claims Data Warehouse over the Internet. Through secured access, insureds and agents can view summary and detailed claims data, sorted by the level requested. Access to …
Chicago-based Fitch has assigned an “A+” rating to the $400-million surplus note offering by Nationwide Mutual Insurance Company (Nationwide Mutual). Fitch also carries a “AA” rating on the insurer financial strength of Nationwide Mutual and related pool members, Nationwide Mutual …
According to a report from Reuters News Agency, Aon Corp., the world’s second largest insurance broker, is in the process of concluding a 50/50 partnership arrangement with China’s state-owned COFCO, and expects to receive a license to begin operations in …
Newly formed Bermuda-based insurer Allied World Assurance Co. (See IJ Website Nov. 27) announced that it has concluded an exclusive agency agreement with IPCRe Underwriting Services Limited. Beginning Dec. 1, it will begin writing property catastrophe treaty reinsurance with a …
