Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Allmerica Downgraded
Nov 11 2002 // A.M. Best Co. downgraded Worcester, Mass.-based Allmerica Financial Corporation’s (AFC) property/casualty operations from “A-” to “B++.” The company’s life and annuity operations were...
Fitch Affirms Ohio Casualty ‘BBB’ Sr. Debt Ratings
Nov 6 2002 // Fitch Ratings announced that it has affirmed the ‘BBB-‘ senior debt rating and ‘BBB-‘ long-term issuer rating of Ohio Casualty Corporation with a “stable” outlook. “The rating...
Washington Casualty Co. Ratings Lowered to ‘Bpi’ from ‘BBBpi’
Nov 5 2002 // Standard & Poor’s Ratings Services said that it lowered its counterparty credit and financial strength ratings on Washington Casualty Co. to single-‘Bpi’ from triple-‘Bpi’ because of the...
Calif. Casualty’s Brown Elected Second Vice Chair of NAII
Oct 31 2002 // Thomas Brown, chairman of the board and CEO of the California Casualty Management Company, was elected second vice chair at the National Association of Independent Insurers’ (NAII) Annual Meeting this week. Brown...
Ohio Casualty Reports $69.9 Million Q3 Loss
Oct 31 2002 // Ohio Casualty Corporation announced a net loss of $69.9 million, or $1.14 per share, for the third quarter ended September 30, 2002, compared to net income of $44.2 million, or $.73 per share, in the same period last...
Pollard Elected NAII Chairman
Oct 31 2002 // William Pollard, executive vice president and general manager of the North Carolina Farm Bureau Mutual Insurance Company was elected chairman of the Board of Governors of the National Association of Independent Insurers...
A.M. Best Affirms Ratings for Mercury Casualty Group
Oct 29 2002 // A.M. Best Co. has affirmed the financial strength ratings of A+ (Superior) for the Mercury Casualty Group (Los Angeles). Also, the financial strength ratings of A- (Excellent) of American Mercury Insurance Group (Oklahoma...
American Casualty Requests Rate Change in Nevada
Oct 17 2002 // American Casualty Company of Reading, Pa., a subsidiary of CNA Insurance Group, recently filed a request for rate increase in Nevada. The increase, if granted, would be placed in effect on policies in the Medical...
Continental Casualty Requests Rate Change in Nevada
Oct 16 2002 // Continental Casualty Company, a subsidiary of CNA Insurance Group, recently filed a request for rate increase in Nevada. The increase, if granted, would be placed in effect on policies in the Medical Professional Liability...
COLONIAL CASUALTY IN TROUBLE
Oct 14 2002 // A Travis County Grand Jury handed down indictments to a Texas couple alleging that the two stole over $1 million from Colonial Casualty Insurance Company, a workers compensation insurance company based in Dallas. The...
Conning Says Casualty Insurers’ Results Slightly Improved
Oct 11 2002 // The U.S. Property/Casualty industry outlook is improving, but not dramatically, according to Conning Research and Consulting, Inc. Premium growth is significant, but income and return on equity are projected to improve...
Foremost Mobilehome Insurance Rates to Increase
Oct 10 2002 // Nevada Insurance Commissioner Alice A. Molasky-Arman has approved a mobile homeowners insurance rate change for the Foremost Insurance Company Grand Rapids, Michigan (“Foremost Insurance”), American Federation...
Allied World Announces Two Executive Appointments
Oct 9 2002 // Bermuda-based Allied World Assurance Company, Ltd (AWAC) announced that Gerald W. Browning has joined the company as a VP, responsible for the Casualty Facultative Reinsurance Department, and that Sylvan D. Richards Jr....
ACE Casualty Risk Part of Environmental Risk Market, Forms New Unit
Oct 7 2002 // ACE Casualty Risk is entering the environmental risk market resulting in the creation of a new unit, ACE Environmental Risk. The new environmental and casualty underwriting unit will offer environmental liability products...
Endurance Announces Two Sr. Executive Appointments
Oct 4 2002 // Bermuda’s Endurance Specialty Insurance Ltd. announced the promotion of David V. Cabral to Executive VP for Excess Casualty and Professional Liability and that Ronald H. Koch has been named a Senior VP for Casualty...
American Casualty Files Rate Increase Request in Nev.
Oct 3 2002 // American Casualty Company of Reading, Pa. recently filed a request for rate increase in Nevada. The increase, if granted, would be placed in effect on policies in the Certified Registered Nurse Anesthetists Professional...
TDI Seeks Bids for Colonial Casualty Receiver
Oct 2 2002 // The Texas Department of Insurance issued a request for bids for a special deputy receiver to handle business related to Dallas-based workers’ compensation carrier Colonial Casualty Insurance Company. Colonial...
Travelers Property Casualty Authorizes $500M Share Repurchase
Sep 26 2002 // Travelers Property Casualty Corp. announced that its Board of Directors authorized the company to spend up to $500 million for the repurchase of its Class A and Class B common stock. The repurchases may be made from time...
Patriot Act Final Rules on Money Laundering Exempt P/C Insurers
Sep 20 2002 // The U.S. Treasury Department’s final rules on implementation of the USA Patriot Act exclude property/casualty insurers from specific sections of the law aimed at detecting terrorists’ money laundering schemes...
ACE Risk Management Forms New Custom Casualty Unit
Sep 4 2002 // ACE Risk Management (ARM), part of ACE USA, has created a new unit, ARM Custom Casualty. The ARM Custom Casualty unit will specialize in general and product liability coverages for insureds with challenging exposures. In...
