While reports continue to come in that the investment group headed by American International Group and WL Ross are still talking with Hyundai Securities and Hyundai Merchant Marine, the Korean broker’s largest shareholder, no breakthrough has been announced. AIG’s proposal …
Judge Frederick J. Scullin, who presided over the trial of Albert W. Lawrence for fraud connected with several insurance companies he controlled in upper New York State, granted the convicted felon a two-week postponement before he must begin serving a …
Pennsylvania Insurance Commissioner Diane Koken announced that her Department has introduced a system to enable insurance companies to “submit filings for many lines of commercial insurance over the Internet through Pennsylvania’s award-winning PA PowerPort.” Called the “System for Electronic rate …
On Aug. 24, the American Insurance Association (AIA) testified before the Colorado Commission on Taxation, urging the group to consider a proposal that would provide insurers with a credit against premium taxes for salaries paid to Colorado-based insurance company employees. …
At its Board meeting in Atlanta, Ga., the National Auto Agents Alliance (NAAA) accepted an application for affiliation from the Latin American Agents Association (LAAA). The LAAA is a three-year-old organization headquartered in Los Angeles, Calif. LAAA President Andre Urena …
idNet announced that it has signed an integration agreement with AMS Services. The scope of the agreement allows for idNET and AMS to work cooperatively to develop integration between idNET’s 24/7 Internet-based CSR24 product and AMS’ strategic agency management systems. …
It doesn’t matter how much advance notice they get from the state motor vehicle departments — many insurance companies hold off until the last minute before considering how they will comply with automobile liability reporting requirements. About 20 states now …
Standard & Poor’s assigned its “R” financial strength rating to Frontier Insurance Co. after the New York State Insurance Department and Frontier reached an agreement for Frontier to enter into voluntary rehabilitation. By a vote of the Board of Directors, …
A.M. Best Co. downgraded the financial strength rating of CNA Reinsurance Co. Ltd., London, to “B+ ” (Very Good) from “A-” (Excellent). The company remains under review with developing implications. According to A.M. Best, the action follows uncertainty surrounding the …
Standard & Poor’s announced that it had raised the counterparty credit and financial strength ratings on Latin American Reinsurance Co.,Ltd. (LARe) to double-‘A’ from single -‘A’-minus and removed them from CreditWatch, where they were place on January 24, 2001, with …
