Nonprofit organizations are among the fastest growing sectors of the U.S. economy and while many companies try to steer away from writing policies for nonprofits, there are a few that thrive on the business. Those who do focus on the …
The insurance market for pubic entities—municipalities, counties, school districts, etc.—seems to be headed for an ’80s revival, but unfortunately nostalgia can’t be attributed as the driving force. This throwback to the late 1980s is all about a hardening market, one …
CDI investigators arrested a Los Angeles Unified School District teacher, Randolph Zane, on 36 counts of insurance fraud. Zane, 55, was booked on a $320,000 bail felony warrant. The San Bernardino County District Attorney’s Office is prosecuting the case. An …
Investigators from the California Department of Insurance (CDI) arrested Ralph G. Lattanzi, 36, of Orange County on two felony counts of insurance fraud and one felony count of grand theft. Bail was set at $25,000. The Orange County District Attorney’s …
S&P lowered its counterparty credit and financial strength ratings on Prudential Property & Casualty Insurance Co. of Indiana (PRUPAC) to “A” from “A+.” The outlook is stable. The rating action reflects S&P’s belief that PRUPAC, based on its current and …
S&P lowered the counterparty credit rating and insurer FSR on U.K. insurer Royal & Sun Alliance and various operating entities from “AA” to “A+,” and has removed them from its CreditWatch. The downgrade reflects an accumulation of pressures on the …
Standard & Poor’s removed from CreditWatch and lowered its counterparty credit and senior debt ratings on New Jersey-based Chubb Corp. to “AA-” from “AA+,” its preferred stock rating to “A” from “AA-,” and its FSR on Chubb’s operating insurance companies …
Following SAFECO’s announcement of loss reserve strengthening, A.M. Best Co. continued to maintain a negative outlook on the property/casualty operations’ financial strength rating of “A.” In addition, the negative outlook remains in effect for SAFECO’s debt ratings. The “A” group …
California Assemblyman Thomas M. Calderon (D-Montebello) introduced legislation designed to provide financial relief for families of military reservists called to action in the war against terrorism. Known as “The Military Reservist Relief Act of 2001,” Calderon’s bill provides emergency economic …
Wes Bannister filed his name in the race to become the likely Republican nominee for the post of California Insurance Commissioner. Current Commissioner Harry Low has noted that he does not plan to run for the office in 2002. Bannister …
