A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Blue Ridge Insurance Company (BRIC) (Sun Prairie, WI), United Security Insurance Company (USIC) (Greenwood Village, CO) and Capital City …
A New York state appeals court Tuesday dismissed a lawsuit in which bond insurer MBIA Inc. accused Merrill Lynch & Co. of fraudulently misleading it into providing insurance on $5.7 billion of risky debt. The ruling is a setback for …
Record ocean temperatures and an intense La Nina weather pattern have helped spawn one of the most powerful cyclones in Australia but whether there’s a direct climate change link is less clear. Cyclone Yasi, a maximum category 5 storm, was …
London-based Cooper Gay, an independent global wholesale, reinsurance and specialist retail insurance broker, has launched Cooper Gay European Markets, which it describes as an “integrated trading unit to provide clients with a consistent, timely and balanced service for their risk …
Willis Group Holdings announced the appointment of Mark Parker as leader of the Group’s Global Service Centers in Ipswich and Mumbai, effective April 1, 2011. He will replace Ian Gale who is leaving Willis after 35 years of service. Parker …
Willis Group Holdings UK branch announced that Robert Capurro has been appointed leader of the Utilities Practice within its Risk Solutions division, effective immediately. He is based in London, and reports to Paul Chetwynd-Talbot, National Practices Leader for Willis UK …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Bermuda’s Arch Reinsurance Ltd. and its strategic affiliates. Best also revised …
A.M. Best Co. has assigned a financial strength rating of ‘A+’ (Superior) and an issuer credit rating of “aa-” to Everest Insurance Company of Canada (EvCan), both with stable outlooks. Best noted that EvCan is “licensed to write property, automobile, …
Florida’s Republican Governor Rick Scott signaled Tuesday that President Barack Obama’s landmark healthcare overhaul may not be implemented in the state as a legal battle over the law appears headed to the Supreme Court. Scott, a former healthcare executive, spoke …
State Farm of Florida is requesting a statewide average 27.7 percent homeowners insurance rate increase citing the rising costs of sinkhole claims. The request comes as Florida lawmakers are trying to broker a deal over how to address the rise …
