A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A ‘(Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. Best also affirmed the ICR of “bbb” of Chaucer Holdings PLC (CHP), the ultimate parent company …
Bermuda-based Ariel Reinsurance Company Ltd. has opened a branch office in Zurich to engage in the writing of credit & surety reinsurance on a global basis starting with the 2010 renewal season. The Zurich Branch, located in Zurich’s main insurance …
Politico-social trends are rarely static; they evolve over time. Terrorism is no exception. An article on the Lloyd’s of London web site (www.lloyds.com) notes that “today’s extremists are just as intent on causing headline grabbing death and destruction – but …
A.M. Best Co. has downgraded the financial strength ratings (FSR) to D (Poor) from B (Fair) and issuer credit ratings (ICR) to “c” from “bb” of Tower Hill Preferred Insurance Co., Tower Hill Prime Insurance Co. and Omega Insurance Co. …
Travelers Bond & Financial Products is now offering Network and Information Security Offense coverage endorsements on its Wrap+ policies. These endorsements are available for eligible policyholders in targeted private and non-profit industry groups. As the number of incidents involving unauthorized …
Miami-based First Commercial Insurance Co. and its subsidiary have been declared insolvent and ordered liquidated about six weeks after being placed under state control. All policies written by FCIC and its subsidiary, First Commercial Transportation and Property Insurance Co., are …
The state of California plans to sell off some of its State Compensation Insurance Fund, which writes workers’ compensation policies, for $1 billion. Or does it? A growing number of officials and experts now think the sale, adopted as part …
Transportation insurance rate decreases seem to be moderating and are down on average between 1 percent to 10 percent, according to a recent industry survey on availability and rate trends in the transportation insurance market. According to NIP Group Inc.’s …
Karen Stakem Hornig has been promoted to deputy insurance commissioner of the Maryland Insurance Administration. She was appointed associate Deputy Insurance Commissioner in June 2008. She serves as the Commissioner’s designee for quasi-judicial hearings, heads the agency’s administrative UUnit and …
Just a short time after announcing it was leaving the California workers’ compensation insurance market because it was not profitable, Employers Direct Insurance Co. is announcing it is back. The Southern-California-based company said yesterday that it has signed a definitive …
