A.M. Best Co. affirmed the A+ (Superior) financial strength ratings (FSR) of the primary property/casualty operations of the Nationwide Group, Columbus, Ohio, as well as its affiliated life insurance companies. In addition, A.M. Best assigned the following debt ratings: “a” …
The Michigan Office of Financial and Insurance Services (OFIS) released complaint ratios for insurance companies in Michigan — the information is available at www.cis.state.mi.us/ofis. Individual company information is also available by calling OFIS toll free at 877-999-6442. When analyzed, the …
Claims Direct, Britain’s personal injury settlement service, which has suffered falling profits following a series of adverse articles in the country’s newspapers, could be sold to two of its top managers. According to a report in London’s Financial Times, Tony …
Finnish insurer Sampo’s bid for Norway’s leading insurance company, Storebrand, has apparently been blocked by Den Norske Bank’s acquisition of 9.76 percent of the company’s outstanding shares. Sampo topped the bank’s offer for Storebrand last May, and, despite objections from …
Lloyd’s and London’s International Underwriting Association announced they would jointly sponsor “a series of alternative dispute resolution (ADR) clinics to be operated in conjunction with commercial mediation provider, InterMediation,” on a weekly basis, beginning tomorrow. IUA special advisor David Taylor …
By a vote of 125 to 19 the New York State Assembly followed the lead of the Senate, and passed a bill banning the use of cell phones by automobile drivers. Governor Pataki is expected to sign the bill next …
The American Insurance Association has urged NY Governor George Pataki to veto a bill passed by the Assembly and the Senate, which would remove the current exclusion of benefits for drunk drivers under the State’s Personal Injury Protection plan (PIP). …
How do most agencies get new business? The answer is usually from referrals. Business generated this way is great—it’s already “half sold” and the new client’s perception of the agency, products and service is already high. The downside is that …
Pasadena, Calif.-based PAULA Financial (PAULA) and the managing general agency Great Northern Underwriters (GNU) of Portland, Ore., recently entered into a partnership, the first step of which entails the incorporation of PAULA’s Oregon underwriting personnel into GNU’s operations. The long-term …
CDI investigators arrested Martha Rodriquez of Riverside on charges of workers’ compensation fraud and perjury. Rodriquez, 37, also known as Graciela Castro, was booked into Riverside County Jail on a $5,000 felony warrant. The Riverside District Attorney’s Office, Workers’ Compensation …
