According to Insurance Brokers and Agents of the West (IBA West), a workers’ compensation bill moving its way through the California Legislature doesn’t go far enough in attempts to reduce costs to reform the troubled system. Without compromise, the bill …
The National Association of Independent Insurers (NAII) has invited a broad spectrum of the property and casualty insurance industry and representatives from other industries affected by the increasing number of mold-related claims to a forum on mold issues in Chicago …
The goal of more efficient state filing systems is becoming a reality. By the end of the year, the National Association of Insurance Commissioners (NAIC) anticipates that 41 states will be accepting product and rate filings for all lines of …
Argonaut Group Inc. announced it has terminated the purchase and sale agreement with Queensway Financial Holdings Ltd. previously announced on April 18, 2001. Under the agreement, Argonaut Group was to have acquired certain U.S. subsidiaries of the Canadian holding company. …
A.M. Best Co. downgraded the financial strength rating of “A++” (Superior) to “A” (Excellent) for Fireman’s Fund Insurance Companies (FFIC), Novato, California. A.M. Best indicated the rating action reflects a change in its opinion concerning the treatment of FFIC as …
American International Group, Inc. (AIG) announced today the closing of its acquisition of American General Corporation (American General). Based on the closing date of Aug. 29, American General shareholders will receive 0.5790 of a share of AIG common stock in …
The Progressive Corporation board of directors elected Philip A. Laskawy to fill the vacancy on the company’s board for the term ending at the April 2003 annual meetings. Laskawy, 60, is the recently retired chairman and CEO of Ernst & …
Standard & Poor’s assigned its “R” financial strength rating to Associated Physicians Insurance Co. (APIC). APIC was declared insolvent and placed into liquidation on Aug. 16, 2001, by the Circuit Court of Cook County, Ill. The agreed order was granted …
Helped by recent acquisitions, QBE Insurance, Australia’s second largest general insurer after NRMA, posted a strong 56 percent gain in interim net profits to A$122 million (U.S.$64.4 million) for the first half of the year. QBE became one of the …
Lloyd’s of London yesterday confirmed previously published reports that it would have losses exceeding $3 billion for the years 1998-99 with a projected loss in 1999 of nearly $2 billion. 2000 figures are expected to show some improvement with losses …
