Indiana-based Conseco Inc. and its creditors have reached another forebearance agreement, which extends the period during which the senior lenders will refrain from taking legal action to enforce payment of around $1.5 billion in debt claims, from November 26 to …
A new partnership between the National Equipment Register (NER) and the National Insurance Crime Bureau (NICB) is beginning to put a dent in heavy equipment theft with the recovery of more than $100,000 in stolen equipment in Pennsylvania. Working with …
A.M. Best Co. announced that it has placed the financial strength ratings of the insurance subsidiaries of Ontario-based Kingsway Financial Services Inc., and the senior unsecured debt rating of “bbb” on its 1999 syndicated bank facility, under review with negative …
Insurers are weighing the ramifications of a directive filed by the Arkansas Department of Insurance that amends the requirements for insurers using credit-based insurance scores for personal lines ratings and underwriting. “The insurance industry has worked closely with the Arkansas …
Munich Re reported that its net profit for the first nine months of 2002 reached 3.24 billion Euros ($3.2 billion) despite a net loss of 859 million Euros ($847 million) in the third quarter. The company noted that the figures …
Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on the Swedish insurer If Property & Casualty Insurance Ltd. and Finland’s If P&C Insurance Co. Ltd. (formerly Sampo Insurance …
A Fair Oaks, Calif. woman was arrested as a result of an investigation by the California Department of Insurance Criminal Investigations Branch’s Fraud Division. Shauna M. Lewis, 28, was booked into the Sacramento County Jail on one felony count of …
The following letter to the editor of the San Diego Union-Tribune, authored by Association of California Insurance Companies president Sam Sorich, is regarding insurers’ investment income impact on premiums and rates in California. Dear Editor: Dean Calbreath’s Oct. 25 article …
The Washington Department of Labor and Industries (L&I) has adopted a 29 percent rate increase for 2003. It is the agency’s first general rate increase in eight years. On Jan. 1, the average rate will rise from 36.9 cents for …
Standard & Poor’s has affirmed its ‘A-‘ counterparty credit and senior debt ratings on Travelers Property Casualty Corp. and its ‘AA-‘ counterparty credit and financial strength ratings on members of the Travelers Property Intercompany pool and Travelers Casualty and Surety …
