Allmerica Financial Corporation (NYSE: AFC) in Worcester, Mass. reported net income for the first quarter of $12.1 million, or $0.23 per share, compared to net income of $37.1 million, or $0.70 per share in the first quarter of last year. …
The federal jury in New York, which is deliberating over the terms of the binding agreements governing the recovery for the destruction of the World Trade Center (See previous articles) has ended the sixth day without reaching a verdict. Judge …
Bermuda-based Arch Capital Group Ltd. announced that it plans to commence the marketing for a public offering of $300 million principal amount of its senior notes. Arch Insurance Group, a division of Arch Capital, announced that Scott McClintock has been …
The CEOs of several leading carriers will highlight a panel discussion May 6 at the 50th annual Cleveland I-Day, hosted by the city’s chapter of the Chartered Property Casualty Underwriters (CPCU) Society and the Insurance Board of Northern Ohio. The …
Michigan Gov. Jennifer Granholm and the state’s top insurance regulator have proposed a rule to completely ban the use of credit-based insurance scoring in the underwriting and rating of auto and homeowners insurance policies. Granholm and Office of Financial and …
Congress should act this year to extend the national terrorism insurance backstop beyond Dec. 31, 2005, because the private market remains unable to withstand potentially catastrophic losses resulting from terrorist attacks, a united insurance industry told two U.S.House subcommittees on …
Mayfield Village, Ohio-based vehicle insurer Progressive Corp. announced today that its board chairman, Peter B. Lewis, has established a pre-arranged trading plan to sell common shares of the company in the open market over a designated period in accordance with …
Southfield, Mich.-based Insurance Partners Agency (IPA), which provides insurance risk management, placement and consulting services to clients in 34 states, received the Certified WorkComp Advisor Designation at the recent Institute of WorkComp Advisor’s Symposium at Duke University. The key IPA …
An anonymous group of supporters of embattled Chicago insurance broker Michael Segal has launched a Web site to bolster his tarnished image. Segal, the CEO of Near North National Group, is on trial on federal charges of embezzling more than …
Cleveland-based Medical Mutual of Ohio has introduced a line of Health Savings Account products. An HSA is a special tax-sheltered savings account that is similar to a traditional IRA, but is intended only for medical expenses. An HSA works in …
