The National Association of Independent Insurers (NAII) gave high marks to the Health and Human Services Administration’s (HHS) first guidance document incorporating clarifications to its regulation on protecting the privacy of medical information. Nancy Schroeder, NAII assistant vice president, workers’ …
According to an A.M. Best report, Nationwide Mutual Insurance Co. said it agreed to sell Neckura Holding AG, the parent of its German automobile insurance operations, to Zurich Group Germany, a unit of Switzerland’s Zurich Financial Services Group. Terms were …
There will be no overall increase in workers’ compensation rates for the state of New York in the coming year, according to Superintendent Gregory Serio. Along with a decrease in the assessment, the net impact will be an overall drop …
Richard A. Poppa, Chief Executive Officer of the Independent Insurance Agents Association of New York Inc., announced the promotion of Lisa Lounsbury, IIAANY’s vice president of marketing, membership and market research, to the newly created position of senior vice president, …
Trying to operate in a shaky market, a pair of California workers’ compensation carriers have seen their ratings drop from “A” to “A-” following review by analysts at A.M. Best. Both Encino-based Republic Indemnity Insurance Pool and Woodland Hills-based Zenith …
S&P lowered its FSR and counterparty credit rating on Colonial Penn Insurance Co., Colonial Penn Franklin Insurance Co., Colonial Penn Madison, and GE Auto & Home Assurance Co. (together known as Colonial Penn Property/Casualty Insurance Group, or CPG) to “AA-” …
Fitch affirmed the “AA-” insurer FSR of Associated Electric & Gas Insurance Services Limited (AEGIS) and changed the rating outlook from stable to negative. The negative rating outlook reflects continued poor operating results, declining underwriting and operating cash flows, uncertainty …
Fitch affirmed its “A-” insurer FSR of Merchants Mutual Insurance Company, a Buffalo, N.Y.-based mutual property/casualty insurer; and Merchants Insurance Company of New Hampshire Inc. The outlook for each rating is stable. The rating is based on each company’s expertise …
Zurich-based Allianz Risk Transfer (ART) received an “AA” financial enhancement rating (FER) from S&P. The rating was the first FER issued to a European multiline insurance company. At the same time, S&P assigned an “A1+” short-term counterparty credit rating to …
A.M. Best Co. affirmed the “A” FSRs of SAFECO Corporation’s property/casualty and life/health subsidiaries and removed all ratings from under review. In addition, SAFECO’s commercial paper rating of “AMB-2,” senior debt rating of “bbb+” and capital securities rating of “bbb” …
