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21
12, 2015
S&P Affirms Zurich’s Ratings; Outlook Stable
Standard & Poor’s Ratings Services has affirmed its ‘AA-‘ insurer financial strength rating and ‘AA-/A-1+’ long- and short-term counterparty credit ratings on Swiss-based global multiline insurer Zurich Insurance Co. Ltd. and its ‘AA-‘ rating on Zurich’s core subsidiaries, all with …
21
12, 2015
Pennsylvania Court Issues Liquidation Order for Regis Insurance
Regis Insurance Company, a Pennsylvania-domiciled insurance company, was recently issued an order of liquidation by the Commonwealth Court of Pennsylvania. Regis, a writer of small commercial business based in Paoli, Pennsylvania, was licensed in and domesticated in Pennsylvania in 1979. …
18
12, 2015
Fitch: Overall P/C Insurance Reserves Adequate; Prior Years’ Favorable Development Continues
Property/casualty insurers continued to take down loss reserves for prior years in 2014, which marked the ninth straight calendar year of favorable development for the industry in aggregate, according to a new report from Fitch Ratings. Fitch also estimates that …
21
12, 2015
Best Says Ironshore’s Ratings ‘Not Immediately Affected’ by Fosun Investigation
A.M. Best has commented that the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Ironshore Insurance Ltd. (Bermuda) and its affiliated operating companies: Ironshore Indemnity Inc. (Minneapolis, MN), Ironshore Specialty Insurance Company (Phoenix, …
18
12, 2015
Brown & Brown Acquires Ocean Marine Insurance Agency & Affiliates in R.I.
Brown & Brown Inc. announced that its subsidiary Brown & Brown Insurance Agency of Virginia Inc. has acquired certain assets of Ocean Marine Insurance Agency Inc., Ocean Marine Insurance Agency of Massachusetts Inc. and Ocean Marine Underwriters Agency Inc. (collectively …
21
12, 2015
Flood, Fraud & the Florida Market: McCarty Talks Hot Insurance Topics in 2015
It was another busy year for the Florida Office of Insurance Regulation (OIR). From conducting the annual property/casualty data call and subsequent stress test of Florida property insurers, to working on the depopulation efforts of Citizens, to calling out the …
18
12, 2015
McKee Risk Management Hires Prinz as Social Services VP in Penn.
McKee Risk Management Inc. in King of Prussia, Pennsylvania, has hired Lisa Prinz as vice president of the Social Services Practice. Prinz was previously at Harleysville/Nationwide Insurance where she started the Human Services program. Prior to that, she was at …
21
12, 2015
Marketform M&A Underwriter O’Reilly Moves to London as Sector Expands
Specialist Lloyd’s underwriter Marketform announced that M&A underwriter Astrid O’Reilly is relocating from Singapore to London as the company looks to strengthen the M&A product offering within the European markets. She joined Marketform in June 2015 and, successfully set up …
17
12, 2015
Pennsylvania Compensation Rating Bureau Seeks 0.9% Loss Cost Decrease
The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss cost decrease of 0.90 percent. PCRB’s …
21
12, 2015
Maryland Commissioner to Meet With Local Farmers to Discuss P/C Insurance
Maryland Insurance Commissioner Al Redmer, Jr. and Secretary of Agriculture Joe Bartenfelder will hold a joint meeting to promote awareness of insurance products available to the state’s agricultural community. The meeting will be held at Maryland Natural Resources Conservation Service …