The operator of an Anderson County, Tenn. oil well that burned for nearly a week has been cited by the state for five violations and fined $50,000. According to the citation, Dan Potts was drilling too deeply and didn’t have …
In a long awaited ruling, the Texas Supreme Court, in a 7-2 decision in Unauthorized Practice of Law Committee v. American Home Assurance Company, Inc and The Travelers Indemnity Company, approved the use of insurer defense staff attorneys to defend …
South Louisiana lawmakers are pushing to give some homeowners a 10 percent break on their property insurance, though the legislation faces firm opposition from state Insurance Commissioner Jim Donelon. The bill could erase the 10 percent markup paid by homeowners …
March 31, 2008 – London American Risk Specialists, Inc an independently owned & operated surplus lines/ wholesale brokerage firm, headquartered in Houston, TX, announces a new A.M. Best Rated A XV admitted market for Energy Contractors: • Natural Gas Utility …
Standard & Poor’s Ratings Services has assigned its ‘A-‘ counterparty credit and financial strength ratings to the recently acquired Allied World Reinsurance Co. (Allied World Re), a wholly owned, New Jersey-domiciled subsidiary of Bermuda-based Allied World Assurance Co. Holdings Ltd., …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Bermuda’s International General Insurance Company Limited (IGI). Best has also assigned an issuer credit rating (ICR) of “bbb-” to Dubai-based …
Officials with the California State Division of Labor Standards Enforcement (Labor Commissioner’s Office) issued 52 citations totaling $156,000 in fines to Northern California spas and beauty salons in a recent two-day enforcement sweep. Six investigators conducted the sweeps of 46 …
The Workers’ Compensation Insurance Rating Bureau of California has announced it has decided not to file for a mid-year pure premium rate change. Accepting a recommendation made by the WCIRB Actuarial Committee, the WCIRB Governing Committee said the organization would …
Newark, Calif.-based Risk Management Solutions has launched a probabilistic model to help account underwriters quantify and manage exposure to fire risk. Aimed at primary commercial and specialty insurers and reinsurers, the RMS Account Fire Model provides an link between engineering …
For the second straight year, Louisiana has posted the fastest personal income growth in the nation, but a prominent economist says that the post-hurricane boost will not necessarily last. “To argue we’re the fastest-growing state is not a good headline,” …
