Accident Fund Insurance Company of America has entered into an agreement to purchase United Wisconsin Insurance Company, doing business as United Heartland, a New Berlin, Wis.-based workers’ compensation company. United Wisconsin Insurance Company is a wholly-owned subsidiary of WellPoint, Inc. …
Texas Mutual Insurance Company announced that Texas Gov. Rick Perry re-appointed Richard Cooper to serve on the Texas Mutual board of directors. Cooper will serve another six-year term, which will end in July 2011. Then-Gov. George W. Bush first appointed …
Sky Financial Group Inc. announced the acquisition of Becker-McDowell Agency Inc. and Steiner Insurance Agency Inc., both located in Wooster, Ohio. Becker-McDowell specializes in employee benefits and Steiner focuses on property and casualty insurance. Both insurance agencies were merged with …
Horace Mann Educators Corp. has lowered auto insurance rates for West Virginia consumers an average of 4.4 percent effective Nov. 1, 2005. “We are pleased to reduce rates for educators in West Virginia,” said Doug Reynolds, executive vice president, property …
Some 18 months after a report called the current system unfair and inequitable and three months after a court halted a substitute plan, the Massachusetts Division of Insurance has approved a modification in the way high risk private passenger auto …
Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to preliminary estimates by ISO’s Property Claim Services (PCS) unit. Katrina caused widespread damage to …
The Leavitt Group acknowledged this week that the managing co-owner in its Albuquerque office was dismissed on Sept. 23 for reported misrepresentations made in proposals to 20 current or former clients over a six-year period. Leavitt Group of Albuquerque specializes …
Alabama-based Vesta Insurance Group Inc. reported that its preliminary gross loss estimate from Hurricane Rita for its subsidiary, Texas Select Lloyds Insurance Company, is expected to fall below Vesta’s $20.0 million deductible for its excess of loss catastrophe reinsurance program. …
Zurich Financial Services Group (Zurich) announced that it expects aggregate claims payments related to Hurricane Katrina of approximately $600 million after tax. This figure is net of reinsurance recoverables. It includes reinsurance restatement premiums and is based on an estimated …
The Farmers Insurance Group of Companies announced Tuesday the estimated losses experienced by its Property and Casualty Insurance Exchanges from Hurricane Katrina. Louisiana, Alabama and Mississippi are relatively new markets for Farmers whose market share in these states is approximately …
