USAA announced that Stuart Parker will become USAA’s chief financial officer, effective immediately, following the resignation of current CFO Kristi A. Matus, who will serve as special assistant to the CEO until her departure from the organization on March 2. -Prior to leading USAA Property and Casualty Insurance Group, Parker served for more than three years…
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A.M. Best Co. has assigned a financial strength rating of A and an issuer credit rating of “a” to Starr International Insurance Pte. Ltd., a wholly owned subsidiary of Starr Insurance& Reinsurance Limited and an indirect wholly owned subsidiary of Starr International Company, Inc., a private investment holding company. The outlook assigned to both ratings is…
The U.S. Department of Homeland Security’s Federal Emergency Management Agency issued the following news release:. The new Ector County flood maps become effective on Thursday, March 15 giving those who haven’t purchased flood insurance yet, time to get the best possible premiums to protect their property from potential flooding. “While many people are…
“We are pleased to welcome Matt Hartmann to Safety National,” said Gus Aivaliotis, vice president, large casualty at Safety National. ” Coinciding with Hartmann’s arrival, Safety National will be opening its fifth regional office in Chicago. Other regional office locations include New York, San Francisco, Los Angeles and Atlanta, with corporate headquarters…
This month, MMIC reaffirmed its commitment to providing technical solutions and managing cyber risk for hospitals, clinics and long-term care facilities by expanding its Health IT staff. Joining its ranks is John Woodward, vice president of sales, and Lynn Welch, senior communications consultant. According to Niles Cole, the company’s senior vice president…
It is often reported that the huge increase seen in the cost of car insurance can be blamed firmly on the cost to insurance companies of having to pay out on thousands of whiplash claims. For example, in 2010 to 2011 there were approximately 554,000 whiplash claims which accounted for almost 70 percent of all motor insurance injury claims. It is no wonder that…
The co-authors of “Uninsured Motorist and Underinsured Motorist Coverage” are Gary Kramer, Vice President, ACE Risk Management; J. Scott Sanpietro, Senior Vice President and General Counsel, ACE Risk Management; and James R. Potts, Esquire, Member of Cozen O’Connor. “There are complicated rules and requirements for the offer and sale of UM/UIM coverage in all fifty…
Sterling& Sterling, Inc. announced that Camille Mastronardi has joined the private insurance brokerage as Senior Vice President. Prior to Sterling& Sterling, Mastronardi worked for Willis and its predecessor companies since 2003. Before that, she served as an insurance carrier representative with Great-West Life Insurance with a focus on the arrangement…
Starr Companies announced that Bob Coords has been named Head of Starr Specialty Reinsurance, a division of Starr Indemnity& Liability Company. Bob is based out of New York reporting to Charles Dangelo, President and CEO. Starr Companies is the U.S. marketing name for the group of companies comprised of Starr Insurance Holdings, Inc. and subsidiaries and is a…
RE Risk Manager, a web-based portal that enables insurers to better manage profitability by identifying key cost drivers of reinsurance, Tal Piccione, Chairman/CEO of the U.S. RE Group, announced. The product was developed through a strategic partnership with James Campbell of Campbell Insurance Consulting, Richmond, VA. RE project team that worked with…
Today MedAmerica Insurance Company and LTC Financial Partners, LLC announce a distribution agreement to make a broad suite of long-term care insurance products available at reduced underwriting and multi-life discounts to employees. The move follows UNUM Group’s announcement on February 6 that it would discontinue group long-term care insurance…
The partners of Collins Barrow Nova Scotia Inc. are pleased to announce that Gregor MacLean, CA, previously a manager in our Audit& Assurance group, has moved to our Business Valuations practice, joining a truly topnotch team of professionals led by partners Aaron Wright, CA-CBV, FDS, and Michael Casey, CA-CBV. Organization Profile COLLINS BARROW•…
Mark Riedy is currently Chairman of the Board of Neighborhood Bancorp, the parent of Neighborhood National Bank in San Diego, California. Riedy also serves as Executive Director of the Burnham-Moores Center for Real Estate at the University of San Diego at which he became the Ernest W. Hahn Professor of Real Estate Finance in 1993. Previously, he served as…
Keystone Insurers Group announced the promotion of Barbara A. Kressler to vice president of its Risk Solutions Division. Kressler joined Keystone Insurers Group in 2005 as assistant vice president. About Keystone Insurers Group- Founded in 1983 and headquartered in Northumberland, Pa., KIG is owned by its franchise partners and employees in Pennsylvania,…
In this role, Ivey- who also serves as vice president of CNA’s Reading and Philadelphia branches- is responsible for branch operations, producer relationships and execution of the global insurer’s strategy for profitable growth throughout the Mid-Atlantic Zone territory. One of six geographic zones in CNA’s U.S. field structure, the Mid-Atlantic Zone…
Concurrently, A.M. Best has affirmed the FSR of A- and ICR of “a-” of PIC’s parent company, Plateau Casualty Insurance Company. The ratings also reflect A.M. Best’s view of PIC’s role as a subsidiary of the Plateau Group, Inc., its ability to deliver a broad range of credit insurance product offerings and services to its customers, and the synergies gained by common…
These rating actions follow the execution of an approved pooling agreement between Rutgers Enhanced, Rutgers Casualty Insurance Company and American European Insurance Company, which make up the American European Insurance Group. In May 2011, A.M. Best affirmed the FSR of B+ and ICRs of “bbb-” of AEG based on its solid capitalization and recent actions taken by…
A.M. Best Co. has affirmed the financial strength rating of B+ and issuer credit rating of “bbb-” of Life Insurance Company of Alabama. Offsetting rating factors include LICOA’s concentration of business in the cancer insurance market, continuing litigation expenses and its business concentration in Alabama, Tennessee, Mississippi and Georgia.
A.M. Best Co. has affirmed the financial strength rating of A and issuer credit rating of “a” of CMFG Life Insurance Company. A.M. Best also has affirmed the debt rating of “bbb+” on the $85 million 8.50% 20- year surplus note issued by CMFG Life. Additionally, A.M. Best has affirmed the FSR of B++ and ICR of “bbb+” of MEMBERS Life Insurance Company, a subsidiary of CMFG Life.
