A.M. Best Co. has placed the financial strength rating of “A” (Excellent) for Caliber One Indemnity Company, Wilmington, Del., under review with negative implications. The rating action follows the May 1 earnings release of Caliber One’s ultimate parent, PMA Capital …
A.M. Best Company lowered the financial strength rating to “A-” (Excellent) from “A” (Excellent) of the Kemper Insurance Companies, Long Grove, Ill. It also assigned a “bbb-” rating to the surplus notes issued by Lumbermens Mutual Casualty Company, the lead …
The Alliance of American Insurers has pointed to the U.S. Congress Joint Economic Committies (JEC) new study “The Economic Costs of Terrorism,” as further evidence that federal terrorism reinsurance legislation is needed. “These members of Congress clearly understand the toll …
The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has unveiled a study identifying the major factors leading to the drop in claim frequency over the last decade. The WCIRB report proposes that indemnity claim frequency, which presently is approximately …
A federal judge has thrown out a lawsuit alleging that Credit Lyonnais and others engaged in fraudulent activity in the 1993 acquisition of the assets of the futile Executive Life Insurance Co, according to the Los Angeles Times. California Attorney …
Following the lead of State Farm, Prudential Insurance will limit Arizona customers seeking new auto and homeowner’s coverage in order to maintain control of its policyholder base, according to The Tribune. Progressive went a step further saying it would cease …
A new chapter was unveiled in the Arthur Andersen battle with investors earlier this month as the company said it would agree to pay $217 million to compensate those investors in an alleged fraudulent Arizona charity. Andersen had certified the …
Those rope-burned hands on this week’s cover graphically depict the dire straits of the workers’ compensation market in California. Safe to say, it’s now in full-blown crisis, as overused and overblown as that word is. The most recent evidence of …
Relationship management certainly isn’t new. Most agencies feel committed to their customers and believe that building and managing relationships is also a great strength of the agency. That said, how many agencies do you know with a well-defined relationship management …
One of the more recurring questions we get asked as business consultants and appraisers is “can you do a quick and dirty valuation for my business?” Now we can appreciate someone asking for a ballpark valuation, however, a back of …
