Professional Insurance Association of New Jersey president John D’Agostino, Jr., CIC, has addressed a letter to Douglas A. Wheeler, Assistant Commissioner of Legislative and Regulatory Affairs for the New Jersey Department of Banking and Insurance concerning the proposed regulations, PRN …
The National Association of Independent Insurers announced that it has asked the New Jersey Department of Banking and Insurance to be more specific regarding the methodology contained in a proposed regulation dealing with insurer excess profit calculations. The NAII’s letter …
Standard & Poor’s Ratings Services announced that it has assigned its ‘BB+’ global scale preferred share rating to Kingsway Financial Services’ (KFS) “guarantee of Kingsway Financial Capital Trust I’s U.S. trust preferred securities issue of up to US$72 million.” It …
Fortis, the international insurance and financial services group based in Belgium, announced its intention to proceed with an initial public offering of shares in its US insurance operations, including Fortis, Inc., which it said are “non-core.” A Company bulletin said …
Standard & Poor’s and Moody’s Investors’ Service both issued favorable comments yesterday on the current prospects at Lloyd’s. The announcements followed a number of first half reports from syndicates indicating strong profit growth on increasing premiums. Stephen Searby, S&P’s director …
A consumer group is urging the United States Attorney for the Eastern District of California to investigate a series of contributions totaling $175,000 from an insurance company, Mercury General Corporation, to Governor Gray Davis. The contributions, which have been made …
The BISYS Group, Inc. announced that James L. Fox, president of BISYS Fund Services, will become the Company’s new CFO succeeding Andrew Corbin, who is resigning to join another company. Fox, who joined BISYS in April of this year, is …
The Alliance of American Insurers says the Senate Banking Committee’s efforts to maintain a national standard for consumer protection rather than allowing states to enact conflicting provisions is a positive step forward as Congress moves to reauthorize the Fair Credit …
Florida’s Chief Financial Officer Tom Gallagher announced that a former owner and director of Mobile Home Division of America Inc. was charged with felony grand theft in relation to allegations that he misappropriated nearly $1 million in insurance premium funds. …
The Philadelphia Insurance Companies have announced the release of their newest professional liability product “Private Company Protection Plus.” “This product is designed specifically for private companies,” said the bulletin. It “provides coverage for Directors and Officers Liability, Employment Practices Liability …
