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A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Travelers Insurance Companies (Travelers) and its property/casualty members. Concurrently, A.M. Best has affirmed the debt ratings of “a-” on senior debt, “bbb+” on subordinated debt, “bbb+ and “bbb” on junior subordinated debt, “bbb” on… Continue reading A.M. Best Affirms Ratings of Travelers Insurance Companies and Several of Its Subsidiaries

State officials and the Bush administration are not seeing eye-to-eye when it comes to health insurance for children. As the Congress prepares to renew an existing health insurance plan for children, governors and state officials are making it clear that they have a different view of the program’s future.     Throughout the country, governors… Continue reading Washington and State Officials at Odds Over Health Insurance for Kids

The Association of California Insurance Companies (ACIC) supports legislation introduced by Assemblyman Mike Feuer (D-Los Angeles) to keep unsafe drivers off the road while also resulting in improved fairness of the auto insurance system in the state. The support of the ACIC was announced by ACIC’s Executive Vice President and General Counsel Jeff Fuller.  … Continue reading Plan to Get Unsafe Drivers Off the Road Backed by ACIC

A Pennsylvanian state legislator introduced a bill to stop insurers from using credit scores to help determine how much customers pay for car insurance.    “It’s a tool the insurance industry can use to hurt you in so many ways,” said state Rep. Jesse White, D-Washington County, who introduced the bill this month. He also… Continue reading PA Legislature Introduces Bill to Block Use of Credit Scores by Carriers

Aon Corp recently applied for a license to operate from the Qatar Financial Centre Regulatory Authority and expects to open an office there later this year.    “The Middle East and in particular Qatar will be one of the fastest-growing regions in the world over the next few years,” said Roelof Hendriks, chief executive officer… Continue reading AON to Enter Qatar

After a review by a special litigation committee, NY-based AIG decided to take over the case that initially stemmed from company shareholders against former Chairman and Chief Executive Officer Maurice R. Greenberg and former Chief Financial Officer Howard I. Smith for losses to AIG caused by their alleged wrongdoing. The suit seeks more than $1… Continue reading AIG Takes Over Lawsuit Against Greenberg and Smith

The PIA in a press release on its website criticized RIMS’ earlier public statement that it was “disappointed” to learn some insurance brokers were reevaluating their pledge to refuse to accept certain forms of contingency fee arrangements with insurers. “In response to regulatory matters and settlement agreements, many brokers pledged to refuse to accept placement… Continue reading PIA Criticizes RIMS’ Statement on Contingency Fees

The gap in health coverage from state to state varies tremendously, according to a new study conducted by a private foundation, The Commonwealth Fund. The report ranked states on 32 indicators grouped into five categories: access, quality, potentially avoidable use of hospitals and costs of care, equity, and ability to live long and healthy lives.… Continue reading Health Coverage All Over the Map

The Big I on Tuesday testified before the House Subcommittee on Housing and Community Opportunity supporting the Flood Insurance Reform and Modernization (FIRM) Act of 2007, H.R. 1682. Tom Minkler, president of New Hampshire-based Clark-Mortenson Agency, represented the Big I at the hearing to review the legislation designed to modernize and reform the existing flood… Continue reading Flood Insurance on Everyone’s Mind: IIAA Supports House Committee in its Review

Yesterday it was announced that the Property Casualty Insurers Association (PCI) supports Florida CFO Alex Sink’s proposal to streamline the process for Floridians to qualify for insurance premium discounts after taking measures to mitigate hurricane damage. This is another move in the hurricane-prone Eastern coastal areas to reach out to those directly affected by the… Continue reading PCI Backs CFO Proposal to Streamline “My Safe Florida Home Program”