Some recent events indicate that the Chinese insurance market is becoming more open to foreign insurers. U.S. and Chinese regulators recently concluded an agreement to begin sharing information; AIG opened an office in the capital, Beijing, the first foreign company …
Standard & Poor’s lowered its counterparty credit and financial strength ratings onMutual Service Casualty Insurance Co. (MSC) of St Paul, Minn., to single-“Bpi” from triple-“Bpi” because of the companies’ rise in net leverage, decline in surplus, and weak profitability and …
As what could become one of the most competitive election seasons in recent Texas history takes shape, it should come as no surprise that the homeowners crisis affecting consumers virtually statewide has taken on prime political importance. With both a …
Fiserv FSC, a unit of Fiserv Inc., has introduced GatewayFSC, a multi-state rating engine that enables financial services organizations to deliver accurate auto and homeowner insurance rates to their customers in a Web-based environment. GatewayFSC was created specifically for financial …
The Siebels Bruce Group Inc. of Columbia, S.C., announced its subsidiaries South Carolina Insurance Company, Catawba Insurance Company, and Consolidated American Insurance Company have received financial stability ratings of “A” from Columbus, Ohio-based, Demotech Inc. The Seibels Bruce Group, Inc. …
For U.S. insurers, reinsurers, and property professionals still reeling from the $32 million a Texas jury awarded Melinda Ballard in her toxic mold lawsuit against Farmers Insurance last year and the $18.5 million a California jury awarded Thomas Anderson in …
As what could become one of the most competitive election seasons in recent Texas history takes shape, it should come as no surprise that the homeowners crisis affecting consumers virtually statewide has taken on prime political importance. With both a …
AscendantOne Inc. of Nashua, N.H., unveiled RiskFocus, an underwriting/rules engine facilitating automated underwriting and real time risk decision support across all personal and commercial lines of property & casualty business. RiskFocus is part of AscendantOne’s browser-based RateFocus(tm) system, a P&C …
American International Group, Inc. (AIG) has announced that the American International Companies have enhanced their Directors, Officers and Corporate Liability insurance coverage to include Business Travel Accident Insurance and Travel Assistance Services.(a) “This endorsement furthers our commitment to provide timely …
American International Group announced that “the American International Companies have introduced a domestic sponsored captive licensed in Vermont, National Union Fire Insurance Company of Vermont, to provide alternative risk management solutions for U.S. exposures.” Charles Dangelo, AIG VP -Domestic General …
