Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Connecticut Medical Insurance Co. to “Bpi” from “BBBpi”. “Key rating factors include the company’s weak profitability and high geographic and product line …
The Professional Insurance Agents of New Jersey Inc. announced that it has updated its Online Agency Handbook to incorporate the new law it helped to secure protecting agents’ ownership rights. “PIANJ fought tirelessly to ensure that when one insurance company …
Pennsylvania Emergency Management Agency Director David M. Sanko has issued a bulletin urging renters and property owners to purchase flood insurance policies now to provide financial protection from potential spring and summer storms. “It takes 30 days for a flood …
New York’s Superintendent of Insurance Gregory V. Serio announced the his Department’s “Top 10” list of the worst insurance fraud cases in the state for 2003. “This list of ‘Rotten Apples’ is a powerful reminder that insurance fraud is far …
The Property Casualty Insurers Association of America notes that Senate Bill 2093, which seeks a total ban on the use of credit-based insurance scores in auto and homeowners insurance ratemaking, would create even more stress for the already troubled insurance …
Bermuda-based Montpelier Re Holdings Ltd. announced that “affiliates of White Mountains Insurance Group, Ltd. and funds managed by Prospector Partners, LLC plan to offer approximately 4,785,540 common shares of Montpelier pursuant to an effective shelf registration statement.” The bulletin noted …
Newark Calif.-based Risk Management Solutions (RMS), a leading provider of products and services for the management of natural hazard risk, announced that it has released version 4.0 of its Climetrix(R) weather derivatives trading and risk management system. Climetrix is an …
Bermuda-based Aspen Insurance Holdings announced the addition of five property reinsurance specialists to Aspen Re America, its recently formed property reinsurance team located in Rocky Hill, Conn. Brian Boornazian, who is heading up Aspen Re America’s property reinsurance unit as …
Joe Weckerle Jr. Joe Weckerle Jr. was hired by R.E. Chaix & Associates to replace recently retired senior vice president Steve Wessel. Weckerle joins the Irvine, Calif.-based company after serving as branch manager and partner in ARIS Insurance from 1992 …
Corey Magliolo MaximFinancial, headquartered in Dickinson, Texas, appointed Corey Magliolo to the position of executive director of financial services. A Dickinson native, Magliolo has served the organization as a financial advisor for more than two years, providing clients with planning …
