On the evening of March 13, 2006, Geico sales representative Stephanie Hall, of Buffalo, N.Y. made history by selling the company’s seven millionth policy. Hall, who has been with the company since December 2004, helped GEICO reach this new milestone …
The California Private Schools Workers’ Compensation Self-Insurance Group, Inc., a self-insurance group for private schools, has been granted tax-exempt status by the California Franchise Tax Board. Rather than paying taxes on net income, the group will retain its earnings, which …
A bulletin from global broker Willis Group Holdings in the April 2006 online edition of “Marketplace Realities and Risk Management Solutions” describes events in the natural catastrophe (Nat Cat) segment of the property marketplace as “nothing less than tumultuous.” Directly …
ACE USA, the U.S.-based retail operating division of Bermuda’s ACE Group of Companies, announced the introduction of “Foreign Clinical Trial Coverage,” to be available to U.S.-based life science companies conducting clinical trials overseas. It’s being offered by ACE Medical Risk, …
Efforts in Memphis, Tenn. by the state Department of Commerce and Insurance to revoke former state Sen. John Ford’s insurance license were shot down by a judge on Wednesday. The department said when Ford spent campaign money on his daughter’s …
Patrick Mallet, President and CEO of Paris-based Mobility Saint-Honore, announced the acquisition of Norfolk International Group of Calgary, Alberta, Canada. The Company said it plans to merge Norfolk into its Canadian subsidiary, MSH Canada, based in Montreal, “to form a …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating of “a” of Bank of Montreal Insurance (Barbados) Limited with a stable outlook. “These ratings reflect Bank of Montreal Insurance’s …
Standard & Poor’s Ratings Services and A.M. Best Co. have both issued bulletins concerning the proposed perpetual fixed-/floating-rate sterling-denominated subordinated notes to be issued by U.K.-based non-life insurer Royal & Sun Alliance Insurance Group PLC.. S&P assigned its “BBB” long-term …
A federal judge in Gulfport, Miss., who would have presided over homeowners’ lawsuits against insurance companies after Hurricane Katrina is waging his own battle against the insurer of his Gulf Coast home. U.S. District Judge Louis Guirola on Wednesday sued …
A.M. Best Co. announced that it has withdrawn the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of the New Zealand-based Accident Compensation Corporation (ACC) and assigned an NR-4 (Company Request) rating. Best indicated that …
