Newsbriefs

SKANDIA TO REDUCE U.S. STAFF

Sweden’s Skandia Group announced staff reductions in its U.S. subsidiary, American Skandia. The company will eliminate 150 positions—about 13 percent...

PERFECT SPLASHDOWN FOR MIR

Everyone from the Russian space team, residents of Japan, Australia and the South Pacific, and certainly the brokers and underwriters...

EXPENSIVE SPLASHDOWN

Despite five days of round-the-clock efforts to save it, the 40-story oil rig, the world’s largest, owned by the Brazilian...

QUAKE CLAIMS NOT EARTH-SHAKING

U.S. insurers are likely to pay out less than previously expected in claims caused by the earthquake that rattled Seattle...

AMWEST EXITS COMM. AUTO

Amwest Insurance Group Inc. announced that it will immediately cease writing new commercial automobile policies. The decision to discontinue this...

SAFECO CREDIT FOR SALE

SAFECO is looking for a buyer for its commercial credit and leasing subsidiary, a move that could reduce the amount...

TERRITORIAL RATING WARS

Insurance associations are up in arms again over the recent request of lawmakers that the California Supreme Court review the...

LLOYD’S WINS AGAIN

On March 16, the U.S. Senate voted 79-18 to remove a provision in the pending Bankruptcy Reform Bill that would...

PROGRESSIVE CORP. GOES WIRELESS

Progressive customers can now make insurance payments, find local agents and get information about Progressive products by connecting to progressive.com...

FARMERS CLOSES SOME DOORS

In a decision that will affect roughly 130 employees, Farmers Insurance Group is closing its Southern California service center in...

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