Hit heavily by the Sept. 11 attacks, with estimated losses from the events now reaching £125 million ($178 million), Cox insurance, which writes both retail coverage and participates in the Lloyd’s market, announced that it was pulling out of unprofitable …
Following Enron’s collapse and the lawsuit filed by JP Morgan Chase against several insurers, Standard & Poor’s undertook a thorough review of the risks involved in underwriting financial guarantees as opposed to traditional surety bonds. Their conclusion: “Surety insurers should …
James Pascarella, the incoming President of the the Professional Insurance Agents of Connecticut (PIACT) told an audience of more than 350 industry representatives that embracing change is essential to remaining stable and profitable in the insurance arena. His inaugural remarks …
Gregory V. Serio, New York’s Superintendent of Insurance and Empire State Development Chairman Charles A. Gargano issued a joint announcement concerning legislative proposals which would allow “a wider range of businesses the opportunity to utilize captive insurance companies to retain, …
The Workers’ Compensation Insurance Rating Bureau of California’s (WCIRB) Governing Committee gave the go-ahead March 20 for a filing of a 10.1 increase in advisory pure premium rates to be effective on policies commencing on or after July 1, 2002. …
Hilb, Rogal & Hamilton Co. has acquired the majority of the operating assets of LFC Insurance Agents & Brokers Inc. of Beverly Hills, Calif. LFC has annual revenues more than $1 million and provides property & casualty insurance and risk-management …
California-based financial services company Fremont General Corp. has reported a fourth-quarter profit, moving from a loss from a year earlier, when it recorded large losses in its workers’ compensation insurance business, according to a Reuters report. Fremont noted that it …
IBSi has unveiled a new program to help insurance brokers deliver turnkey voluntary benefits programs to employers of all sizes. The Secure Choice Benefit System provides brokers with a proven track for voluntary sales through worksite marketing. The Secure Choice …
Theme parks, cruise lines, and other tourism-driven business are watching their insurance rates rise due to the fallout of the Sept. 11 attacks, according to the Bloomberg News. Carnival Cruise Lines, a Miami-based operative, filed a report with the Securities …
Independent agents and brokers believe a class action reform bill approved by the House last week will help return a sense of normalcy to interstate class-status lawsuits and protect the rights of consumers and defendants, according to the Independent Insurance …
