(Montgomery Life) – Teenagers Joe Bennett of East Vincent and Morgan Scott of Harleysville learned that mixing driving with texting or talking on a cell phone could be a recipe for disaster. Bennett, 18, and Scott, 16, squashed fluorescent yellow traffic cones Monday as they tried to maneuver vehicles through an advanced driving course while […]
(PRNewswire) – QBE today announced that it has agreed to acquire NAU Country Insurance Company, a leading writer of crop insurance business based in Ramsey, Minnesota. Completion is expected in July 2010, subject to regulatory approvals. The acquisition supports QBE’s commitment to growing the business through product diversification and new distribution channels. It also strengthens […]
(Legal Newsline) – Connecticut Attorney General Richard Blumenthal on Tuesday sent petitions to U.S Attorney General Eric Holder urging him to investigate insurance companies that steer auto repair customers to body shops of their choosing. Blumenthal said companies that deny consumers the right to choose their own auto repair shop may be breaking both federal […]
(BuffaloNews) – State insurance regulators recovered $13.6 million from insurance companies between April 1 and June 30 for almost 3,000 consumers and health care providers who complained to the state Insurance Department. That’s up 60 percent from $8.5 million recovered in the first quarter, for a total of $22 million for the first six months.
(Bloomberg) – GMAC Inc., the money-losing lender labeled too big to fail by the U.S., has used government guarantees to slash its borrowing costs and undercut profitable lenders, lifting its bond prices by 80 percent since March. GMAC sold $3.5 billion of federally backed bonds in June at a 2.2 percent yield, 65 percent below […]
(BUSINESS WIRE) – The list of Ward’s 50 top performing insurance companies was released by Ward Group, an operational consulting firm and leading provider of benchmarking and best practices services to the insurance industry. Annually, Ward Group analyzes the financial performance of over 3,100 property-casualty insurance companies and over 800 life-health insurance companies domiciled in […]
Delaware Insurance Commissioner Karen Weldin Stewart said The Hartford has agreed to refund over $150,000 to nearly 1,300 auto insurance customers due to the mishandling of the company’s rate filing for its AARP auto insurance program in the state.
Electric Insurance Company, a national, leading provider of personal and commercial lines insurance products, announced today that it has extended its agreement with TeleGlass National to provide mobile glass repair service and zero-cost glass repairs for policyholders (in states where permitted by law). An additional benefit of the program provides for full replacement glass coverage […]
(Business Wire) – A.M. Best Co. has placed the financial strength rating of A (Excellent) and issuer credit rating of “a” of Associated Electric & Gas Insurance Services Limited (AEGIS) (Hamilton, Bermuda) under review with negative implications. These rating actions are due in part to the unexpected 30.0% decline in surplus as of December 31, […]
(Business Wire) – A.M. Best Co. has affirmed the financial strength rating of B++ (Good) and issuer credit rating of “bbb+“ of CIGNA Life Insurance Company of Europe SA-N.V. (CLICE) (Belgium). The outlook for both ratings remains stable. The ratings reflect the company’s strong capitalisation, increasing brand recognition within Europe and good underwriting performance moderated […]