Richmond, Va.-based Hilb Rogal & Hobbs Co. (HRH), the world’s 10th-largest insurance and risk management intermediary, announced today that it has signed a definitive merger agreement to acquire Bliss and Glennon Inc., one of the largest managing general agencies and …
The board of directors of Columbus, Ohio-based insurer State Auto Financial Corp. has recommended that its shareholders reject a cash tender offer from Gregory M. Shepard to acquire 8 million shares at $32 each, but Shepard isn’t giving up. “Despite …
The Michigan Retailers Association (MRA) urged state lawmakers to reject an executive order reorganizing departments because it jeopardizes the workers’ compensation system. In testimony presented to the House Commerce Committee, MRA President and CEO James P. Hallan said: “Today, Michigan’s …
Standard & Poor’s Ratings Services said that it raised its counterparty credit rating on Willis Group Holdings Ltd. to ‘BBB-‘ from ‘BB+’ based on Willis’s consistent and improved operating performance across its main business segments, significantly improved operating fundamentals as …
Risk Management Solutions (RMS) released a revised loss estimate of $600 million for wind-related claims from Hurricane Isabel, updating its initial estimate of $500 million released on Sept. 17. The company also reported that flood-related losses could bring total insurance …
ABD Insurance and Financial Services, a leading provider of global risk management and employee benefits solutions, announces the opening of a regional office serving the greater Reno, Nevada area. The new office is located in the US Bank Building on …
The Alliance of American Insurers welcomed the Sept. 23 hearing by the House Judiciary Committee’s Subcommittee on the Constitution related to excessive punitive damage awards in civil suits. In April, the United States Supreme Court, in the case of State …
The Chubb Group of Insurance Companies is offering Masterpiece® Family ProtectionSM to its homeowners policyholders in California, Kansas, Michigan, Ohio, Oklahoma and Tennessee as it continues a nationwide product roll-out. Family Protection coverage can help defray a broad range of …
Cincinnati, Ohio-based Midland Co. announced that it estimates its losses from Hurricane Isabel will likely be in the range of $10 million to $15 million (pre-tax), which after the benefit of reinsurance, would impact earnings per share by 15 to …
Target Insurance Services and Lloyd’s of London have entered into a new program partnership to provide insurance agents professional liability insurance. The program will be offered to property and casualty agents and brokers with at least $1 million in annual …
