A.M. Best Co. announced that it has downgraded the financial strength rating of Hannover Rueckversicherung AG (Hannover Re) and its core subsidiaries to A (excellent) from A+ (superior). It also downgraded the financial strength rating of HDI Haftpflichtverband der Deutschen …
Insurance Services Office, Inc. (ISO) has signed an agreement to integrate its ClaimDirectorSM auto physical damage (APD) claim score with the ClaimsPortTM solution from ProcessClaims to enable systematic evaluation of incoming claims via web services at first notice of loss. …
As part of The St. Paul Companies’ continued expansion into the small business insurance marketplace, the company announced recently the opening of a Commercial Service Center for its small business customers and insurance agents in the western region of the …
Insurance Commissioner John Garamendi launched two major efforts by the California Department of Insurance (CDI) to protect and aid victims of the Southern California wildfires. Noting that insurance fraud soars after disasters, Garamendi, at press conferences in San Diego and …
Darien, Ill.-based online broker Quotesmith.com Inc., owner of insure.com, announced financial results for the third quarter ended Sept. 30, 2003. “Quotesmith.com made substantial progress in the third quarter towards reaching profitability,” said Robert Bland, chairman and CEO. “For the first …
A.M. Best Co. has assigned a “bbb” debt rating to the $100 million 30-year senior unsecured notes to be issued by AAG Holding Co., Inc., a wholly owned subsidiary of Cincinnati-based insurer Great American Financial Resources Inc. (GAFRI). The notes …
Cincinnati-based specialty insurer Midland Co. declared a regular quarterly dividend of 4.75 cents per share, maintaining the indicated annual dividend at 19 cents per share. The quarterly dividend is payable Jan. 6, 2004 to shareholders of record on Dec. 23, …
A Florida insurance agent has lost his license and is facing a felony charge after more than $180,000 allegedly was stolen by his son, a former insurance agent who previously had reportedly been banned from the industry for theft of …
Florida-based Southern Family Insurance Company, a member of the Poe Financial Group, announced that as of Oct. 20, it reached the $100 million mark in annualized Commercial Property premium. The total combined annualized premium of the Poe Financial Group is …
Springfield, Ill.-based insurer Horace Mann Educators Corp. announced that its net income for the third quarter and nine months ended Sept. 30, 2003, was negatively affected by approximately 57 cents per share due to adverse prior years’ development and strengthening …
