A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of Government Employees Group (GEICO) and its property/casualty members. Best also affirmed the ICR of “aaa” as well as the …
Frank Forde has joined RLA Insurance Intermediaries as underwriting officer heading the firm’s U.S. and International Financial Services practice in Boston, Mass. Forde has more than 20 years experience in underwriting directors and officers (D&O), professional liability, fidelity bond and …
U.S. Sen. Charles Schumer of New York said he will introduce a bill to stop car rental agencies from renting automobiles that are under recalls for problems that aren’t yet fixed. The industry this month proposed a two-tiered system in …
A U.S. senator from Mississippi is introducing a bill that tries to resolve wind-versus-water insurance disputes for structures wiped out by hurricanes. Republican Roger Wicker said that his bill would establish a formula to determine how much property loss is …
Storm science has greatly improved tornado warnings in recent years. But if that’s led anyone into a sense of security, that feeling has taken a beating in recent weeks. Super Outbreak 2011, on April 25-28, killed more than 300 people …
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” for Minnesota-based Benchmark Insurance Company. Best said the rating affirmation reflects Benchmark’s “adequate level …
If a worker makes a mistake that leads to an accident, should that employee take the blame? Maybe not, according to Indiana University of Pennsylvania Safety Sciences professor Jan Wachter. Wachter believes that human error in the workplace, while not …
A court has approved a plan of reorganization for Summit Business Media Holding Co., parent of The National Underwriter Co. and other publications, which filed for bankruptcy protection in January when it was $252 million in debt. Overall the plan …
Many of the states hammered by what’s already the deadliest year for tornadoes in more than half a century have among the nation’s highest rates of homes without hazard insurance despite being among the most twister-prone, data analyzed by The …
As automakers are building more small cars, they are managing to make them safer than ever, new car safety tests show. Six of 13 small cars recently evaluated by the Insurance Institute for Highway Safety (IIHS) earned the group’s top …
