Seattle-based SAFECO announced that Ralph Bailey has resigned as managing director of its London-based insurance subsidiary, R.F. Bailey (Underwriting Agencies) Ltd. In making the announcement, SAFECO reaffirmed its full support for R.F. Bailey Ltd. and Lloyd’s Syndicate 138. SAFECO acquired …
Insurity, a ChoicePoint® company, introduced a browser interface for Commercial Intellisys (SM), its rating and policy-issuance product. The interface enhances the functionality of Commercial Intellisys, while enabling users to extend its processing capabilities from the desktop to the Internet. “This …
Fireman’s Fund Insurance Company, a subsidiary of Allianz AG of Munich, has selected CGI Group Inc. for a 10-year, information technology outsourcing contract. The major terms and conditions of the contract have been agreed upon and the contract is expected …
Farmers Insurance Group® was recognized for achieving the highest growth in market share among insurance companies participating in the National Flood Insurance Program (NFIP). Howard Leiken, acting director of the Federal Insurance Administration, presented all three sales performance awards to …
INSpire Insurance Solutions, a provider of property and casualty outsourcing and software services, announced that that it has reached settlement in its suit against Motors Insurance Corporation (MIC) and General Motors Acceptance Corporation (GMAC). Although specific financial terms of the …
A report in London’s Financial Times says that the AIG Group of investors and the management of Hyundai Securities are near to a compromise aimed at breaking the impasse which has held up AIG’s acquisition of three Hyundai financial units …
Tony McGrath, the provisional liquidator for failed Australian insurer HIH, indicated that creditors of the bankrupt company may get only about 50 cents on the dollar. New loss estimates have put HIH’s shortfall as high as $2.8 billion (See IJ …
Lloyd’s spokesman Adrian Beeby confirmed the organization’s intention to modify the amount members contribute to its Central Fund by raising the involuntary levies they are required to make on all premiums written from the current 0.75 percent to 1 percent. …
Eastern Casualty Insurance Co.’s bid for an individual 11.6 percent increase in Mass. workers compensation rates has been rejected by the State’s Insurance Commissioner Linda Ruthard on the grounds that the evidence presented by the company was ” insufficient in …
Monsignor Emilio Colagiovanni, an 81-year old Catholic Priest, is being held in Bridgeport, Conn. following his arrest by FBI agents in connection with the investigation of the multi-million dollar fraud and embezzlement case against financier Martin Frankel. According to a …
