A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and has assigned an issuer credit rating (ICR) of “a” to MAPFRE PRAICO Group of Puerto Rico. Best also affirmed the FSR of “A” (Excellent) and the ICRs …
Two insurers, Nationwide and Germania, have made donations to the Texas Arson Hotline, the Insurance Council of Texas reported. Each donated $1,000. The Arson Hotline has been responsible for more than two dozen arrests on charges of arson since its …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to “A” (Excellent) from “A-” (Excellent) and revised the outlook to stable from positive for A.I.M. Mutual Insurance Companies and its members. These are Associated Industries of Massachusetts Mutual Insurance …
Standard & Poor’s Ratings Services has assigned its “B” counterparty credit rating to Hub International Ltd. with a stable outlook. S&P also assigned its “B” senior secured debt rating to Hub’s proposed $775 million of senior secured credit facilities, which …
Louisiana regulators have approved property insurance rate hikes of 16 percent to 51 percent for three small companies, with larger increases for homeowners along the coast. The Louisiana Insurance Rating Commission on May 24 approved a 16 percent increase in …
Chicago-based Unitrin Inc. announced it has appointed John M. Boschelli to the positions of vice president and treasurer. Boschelli oversees the company’s day-to-day investment operations, cash management and corporate finance. Boschelli had served as treasurer since his election to officer …
Louisiana Workers’ Compensation Corporation (LWCC) has hired David T. White as director of internal audit. In this position, White will be responsible for providing overall direction for the internal audit function at LWCC. He was previously audit unit manager for …
The Texas Legislature unanimously passed House Bill 1602, by Rep. Corbin Van Arsdale (Tomball). The legislation is designed to protect Texas ports against frivolous lawsuits that threaten the state’s economy, according to Rep. Van Arsdale. “Texas ports and maritime traffic …
Oklahoma fire departments will be receiving much-needed funding for new equipment under a budget package recently approved by the Legislature. Under the agreement, $2.5 million in funding will be deposited into a revolving fund established last year by the Legislature …
Swift currents on the Arkansas River is continuing to pose a danger to boaters, and the U.S. Army Corps of Engineers reissued a warning as the state records more boating-related deaths this year than in all of 2006. The corps …
