A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Toronto-based GCAN Insurance Company following the announcement that the Ontario Teachers’ Pension Plan (OTPP) had acquired the ownership of the company from Torquest Partners …
New Jersey Gov. Richard Codey has signed into law a package of identity theft safeguards with some of the toughest protections in the nation against such fraud. Consumer advocates have hailed the new law as a model for other states …
Softech International announces the launch of a new web-based MVR interface within the FSC Insurance Solutions comparative rater. This interface will allow insurance agents to order motor vehicle reports without having to manually re-enter MVR data provided for accidents and …
Nationwide Insurance has reached an agreement with the Florida Office of Insurance Regulation to audit its claims from the 2004 hurricane season and correct any underpayments. OIR announced that under the agreement Nationwide will also pay $250,000 in administrative costs …
Maryland Insurance Commissioner Alfred W. Redmer is leaving his state job to become chief executive officer of Coventry Health Care, a Delaware-based health insurance company. “It’s just a perfect opportunity,” Redmer said. “Coventry Health Care is one of the top …
Michael Jay Heathman of Lexington, Ky., who did business as Preferred Financial Service, has been sentenced to prison for 20 years after admitting he stole about $150,000 from his clients. Heathman’s plea was the result of a year-long investigation by …
HCC Insurance Holdings Inc. has agreed to acquire MIC Life Insurance Corporation from Motors Insurance Corporation, a subsidiary of GMAC Insurance Holdings Inc., for an undisclosed consideration. MIC Life is currently inactive but is licensed to conduct business in all …
New York Superintendent of Insurance Howard Mills today announced that the USAA Group will reduce its automobile insurance rates an average of 7.6 percent in 2006, saving its private passenger members more than $14 million in premium payments annually. USAA …
National bankers today hailed a ruling that upholds the federal government’s role as the primary regulator of national banks. In Office of the Comptroller of the Currency v. Eliot Spitzer, the U.S. district court for the southern district of New …
North Carolina, South Carolina and Ohio have been added to RiskMeter Online’s Distance to Fire Station Report. CDS Business Mapping, an online property risk mapping provider now lists 25 states in its data. Headquartered in Boston, CDS Business Mapping’s RiskMeter …
