Standard & Poor’s Ratings Services announced that it has assigned its “BBB-” long-term and “A-3” short-term corporate credit ratings to Kuwait-based holding company Kuwait Projects Co. (Holding) K.S.C. (KIPCO) with a positive outlook. S&P noted: “KIPCO has controlling stakes in …
According to Lloyd’s newly released annual underwriter survey, “managing the insurance cycle as the most important challenge facing the global industry for the second year running.” The survey also found that “nearly 90 per cent of underwriters believe that windstorm …
Alabama HB627, defining insurance fraud and making it easier for Insurance Commissioner Walter A. Bell to join in with neighboring states to crack down on fraud, has gained the support of the Alabama Independent Insurance Agents. During AIIA’s Young Agent’s …
California Insurance Commissioner John Garamendi has announced new workers’ compensation regulations that will require all insurers to submit certification forms that verify that claims adjusters and medical bill reviewers meet the new minimum standards of training and/or experience. Effective Wednesday, …
Insurity, which provides processing services and technology to the property casualty insurance industry, has hired Sergio Oyola as regional vice president, sales, and Mark Menard as client executive, compliance reporting. Oyola will be responsible for marketing and selling all Insurity …
The American Insurance Association said that hopes were dashed last week when supporters witnessed HB 4979, an Illinois court venue reform proposal, go down in defeat in the Ill. House Judiciary I – Civil Law Committee on a partisan vote …
A week after beginning deliberations in Rhode Island’s landmark lawsuit against former makers of lead paint and pigment, jurors have still not reached a verdict. The jury met for about four hours Monday afternoon before being sent home for the …
Combined Agents of America, LLC (CAA), based in Austin, Texas, announced it achieved over $326 million in combined property and casualty premiums for 2005 when the board of members recently convened. The 33 member agencies gathered February 8-9 at the …
Oklahoma County District Judge Susan Caswell formally sentenced former Oklahoma Insurance Commissioner Carroll Fisher to three consecutive years imprisonment and ordered him to pay a $20,000 fine, Attorney General Drew Edmondson said. Fisher, 66, was convicted Feb. 8 of embezzlement …
Louisiana Gov. Kathleen Blanco recently outlined a $7.5 billion draft proposal for housing assistance for underinsured and uninsured homeowners. According to the Associated Press, among the key points are: –The plan hinges on $4.2 billion in federal aid that Congress …
