According to a new study, State Fund policyholders have saved approximately $238 million since 1996 in total workers’ compensation claims costs through the State Fund-Kaiser Permanente Alliance. The new study confirms that the Alliance continues to lower medical treatment costs …
Lloyd’s chief executive, Nick Prettejohn urged the insurance industry to take urgent action to secure a profitable future and noted that the major transformation that’s taken place at Lloyd’s in recent years proves that improvements can be made if there …
Hurricane Isabel probably will not have a material impact on primary property/casualty insurance or reinsurance company ratings, based an analysis of insurers’ preliminary loss projections, Standard & Poor’s Ratings Services said. “Insurers are assuming that the hurricane will probably be …
The Professional Insurance Agents of Florida (PIA) honored Andy Pappas, assistant vice president of Poe Financial Group Inc., with the association’s valued Company Representative of the Year Award. PIA announced the award at its annual awards banquet on Sept. 16, …
The American Insurance Association (AIA) announced that the North Carolina Senate approved a medical malpractice bill that the association believes falls short of the goal of comprehensive medical liability reform. S. 802 passed on a 27-19 vote along party lines …
Standard & Poor’s Ratings Services revised its outlook on the core operating entities of the Switzerland-based composite insurance group Zurich Financial Services (collectively ZFS) and the outlook on the group holding company, Zurich Group Holding (ZGH), to stable from negative. …
Standard & Poor’s Ratings Services announced it placed its ratings on Centre Solutions (Bermuda) Ltd. and related operating companies (collectively referred to as Centre) on CreditWatch with negative implications because of concerns that the in-force portfolio being placed in managed …
Although meteorologists are continuously downgrading the anticipated strength of Hurricane Isabel, the storm could still wreak serious damage — and big insured losses — along the Atlantic seaboard, an insurance industry representative said in a note to reporters. Because the …
Mayfield Village, Ohio-based Progressive Corp. announced that it purchased 200,000 of its common shares, $1 par value, from Peter B. Lewis, the company’s chairman of the board, through an entity owned and controlled by Lewis. The purchase price for the …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) of York, Pa.-based Lincoln General Insurance Co., a subsidiary of Kingsway Financial Services Inc. The rating has been removed from under review and assigned a negative outlook. Lincoln …
