AutoClaims Direct Inc. announced the current expansion of the DirectLink appraisal management system and auto appraisal service to 10 additional states. In addition to statewide coverage in California and Arizona, AutoClaims Direct Inc. now services major areas of Nevada, New …
Standard & Poor’s affirmed its ‘BBB+’ counterparty credit rating on W. R. Berkley Corp. At the same time, Standard & Poor’s affirmed its ‘A+’ counterparty credit and financial strength ratings on BER’s operating companies (collectively referred to as Berkley). The …
The AIG Mergers & Acquisitions Division, a division of the property and casualty subsidiaries of American International Group, Inc. (AIG), announced the launch of its newly designed global Web site, www.AIGMergerRisks.com. The Web site is intended to serve as a …
Florida’s Office of Insurance Regulation has ordered a Fort Worth, Texas company to immediately cease operations in Florida. Global Bonding has reportedly been soliciting customers for the purchase of contractor surety bonds and has been issuing construction performance bonds and …
A.M. Best Co. has downgraded the financial strength rating to B (Fair) from A- (Excellent) of Medical Assurance of West Virginia, Inc., (Charleston, WV) a wholly-owned subsidiary of Medical Assurance Company Inc. (MAI), which, in turn, is a wholly-owned subsidiary …
Penn Treaty American Corporation announced the addition of Peter M. Ross to its Board of Directors. “Mr. Ross, 63, will fill the remaining term of Michael F. Grill, the Company’s treasurer, and will be nominated for a three-year term beginning …
While nobody has the capability to predict earthquakes, Geotrac’s newest database of natural hazard variables shows that the Paso Robles’ area, hit by yesterday’s earthquake, has a high annual risk of earthquake damage. The level of risk is in line …
Gerald L. Zimmerman, Senior Counsel for the National Association of Independent Insurers, followed up yesterday’s letter to a Wall Street Journal editor (See IJ Website Dec.23), with a letter to Steve Smith, Editorial page Editor of The Republican, praising his …
Toronto-based Fairfax Financial Holdings Limited announced that a wholly-owned subsidiary has entered into a US$300 million revolving letter of credit facility. “The facility is syndicated with 11 banks and will be used to provide NAIC-eligible letters of credit for reinsurance …
Fitch Ratings announced that it has affirmed the “AAA” insurer financial strength (IFS) ratings of XL Capital Assurance Inc. (XLCA) and its affiliate, XL Financial Assurance Ltd. (XLFA). Both companies were assigned a stable outlook. “XLCA is a New York-based …
