A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘B’ (Fair) and the issuer credit rating (ICR) to “a-” from “bb+” of Arkansas’ American Underwriters Insurance Company (AUIC) with stable outlooks. “These rating actions follow …
A new study on teen driving habits and safety found that 59 percent of teens always buckled up in the driver seat but only 42 percent always wore seat belts as passengers. However, only 38 percent of all teens in …
Insurers who disappoint buyers during the shopping and sales process run the risk of losing sales from new and existing customers. Buyers who purchase their auto insurance policies through local agents give higher average satisfaction scores compared with those who …
Allstate and State Farm, two of the largest auto insurers in Texas, are raising their rates, saying the boost is needed to offset a rising number of claims. In filings with the Texas Department of Insurance, State Farm filed for …
Allied World, Darwin Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines coverages, which include health care professional liability and niche errors and omissions. Darwin also has …
The Canadian insurance industry is seeking ways to stem a rising tide of claims for water damage to homes that it says results partly from aging sewer systems that badly need replacement. Some of its response involves raising the rates …
Liberty Mutual’s Responsibility: What’s Your Policy? television ad campaign has enjoyed great success on television, generating lots of buzz for the company. The campaign has earned free publicity including mentions on The Tonight Show and MSNBC. But the Boston-based insurer …
Jack Byrne’s magic business touch has been all about the basics paired with high drama. Once hailed as the Babe Ruth of insurance, he was the man who long ago saved Geico, the automobile insurer that later became a household …
One of New York state’s largest auto insurers, GEICO, agreed to drop two requests for rate hikes after a plea by the state’s top regulator to consider the effect of high gas prices on customers’ driving habits. Following discussions with …
$475,000 Amount spent on state lobbyists in Massachusetts by Commerce Insurance Group in the first six months of 2008 – making it the largest single spender on lobbying in that time frame. The expenditures come as the state’s largest auto …
