A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of B+ and issuer credit rating of “bbb-” of USIC Life Insurance Company. Concurrently, A.M. Best also has affirmed the FSR of A and ICR of “a+” of United Surety& Indemnity Company. Despite these concerns, the outlook reflects USIC’s conservative underwriting approach,…
Newswires
Dec. 30– The Colorado Springs woman looked at the statement from her insurance company and almost needed a defibrillator to recover from the sticker shock. A procedure that had been billed at $5,000 the first time she had it was being billed a year later at about $28,000– and the statement indicated she was on the hook for all of it. The dramatic difference in price…
As of Friday afternoon, according to the Legislature’s website, 35 bills had been filed by House members, while another 22 had been filed by senators. Nate Gentry, R- Albuquerque, is sponsoring a bill aimed at discouraging bribery, kickbacks and other shady activities that have caused scandal in state government in the past several years. His House Bill 13 is…
Hopes of getting the hardest-hit stretches of the Jersey Shore rebuilt by next summer are fading, as delays in insurance settlements mount and uncertainty hangs over federal aid…
Dec. 30– LAWRENCE– At a time when Massachusetts was reputed to be the nation’s stolen car capital among states, then-Gov. “They’ve done good work,” said Daniel Johnston, executive director of the Insurance Fraud Bureau of Massachusetts. “Theft claims in Lawrence have also dropped dramatically over the same period, about 85 percent, although there has been a slight…
Dec. 30– A $4 million settlement in April between the city of Lubbock and its former insurance administrator ended years of charges and counter-charges over improper fees and commissions, costing taxpayers millions of dollars. Taxes had to be raised by the City Council in 2006 to cover health insurance costs. Representatives from HealthSmart Holding Inc….
Sam Brownback is easy to underestimate. Chris Christie trumps him with guest spots on “Saturday Night Live” and with reliable bombast, but Brownback is every bit the hard-liner on spending as the New Jersey boss. He handed the state’s Medicaid program, which provides health care to some low-income residents, off to private insurance companies.
Sam Brownback is easy to underestimate. The Kansas kingpin has rammed through massive income tax cuts, wiped away thousands of public sector jobs and slashed spending for public broadcasting and social services. He handed the state’s Medicaid program to private insurance companies.
A.M. Best Co. has affirmed the financial strength rating of A and issuer credit rating of “a” of Evergreen Reinsurance Company, Ltd.. The outlook for both ratings is stable. The ratings also consider ERCL’s role as the pure insurance captive of Evergreen Group, a Taiwan- based international logistics and transportation conglomerate with a core business focus on…
Aspen Insurance Holdings Limited has announced an initial estimate of catastrophe losses from Superstorm Sandy. Aspen said that its estimate is based on its review of the individual treaties and policies expected to be impacted, and discussions with clients and brokers. Aspen Insurance Holdings Limited provides reinsurance and insurance coverage to…
Wells Fargo Insurance, part of Wells Fargo& Company, has named Frank Ross, Rod Okimoto and Shalini Ati as head of its Life Sciences, International and Semiconductor insurance practices, respectively. According to a release, Wells Fargo’s Bay Area Insurance team is focused on growing the company’s property and casualty, employee benefits and private risk…
GRC is a wholly owned subsidiary of KnightBrook Insurance Company, which is a wholly owned subsidiary of KnightBrook LLC. In July 2008, Excess Reinsurance Company was acquired by KnightBrook LLC, and subsequently, the name was changed to KnightBrook Insurance Company. A.M. Best remains the leading rating agency of alternative risk transfer entities, with more…
Best Europe- Rating Services Limited has affirmed the financial strength rating of A and issuer credit ratings of “a+” of several European insurance subsidiaries of AVIVA plc, namely Aviva Vida y Pensiones, S.A de Seguros y Reaseguros, Aviva Assurances, Aviva Vie, Aviva Epargne Retraite and Eurofil. Concurrently, A.M. Best has withdrawn the ratings at the company’s…
According to a new survey from Liberty Mutual Insurance and SADD, New Year’s Eve is the most common night of the year for teens to get behind the wheel after drinking or using other drugs. What’s more, teens already know this is a hazardous time to be on the road: of the more than 1,700 teens surveyed, 49 percent consider driving on New Year’s as very or extremely…
Dec. 29– SANTA CRUZ– When Eva Lopez was told the bumps in her breast might mean cancer, she was shaken. The Santa Cruz County resident wondered if she would be able to get treatment without insurance. Would she have to close her business and go to Mexico in search of a doctor?
Last week I read your article about the person who just was awarded their Social Security Disability benefit and was waiting the two years for their Medicare to begin. To recap for the readers, the eligibility rules for Medicare differ greatly for disabled people under age 65 that the rules for people eligible for Medicare by turning age 65. Social Security…
Dec. 28– Six businesses in Corning received letters from an attorney demanding money for a client he claims had his civil rights violated because the stores were handicap accessible. The July 19 complaint letters sent by James C. Mason on behalf of Duane Sceper went to Corning Auto Center, REMAX American Dream Realty, Moller Realty, Video Tyme, the owner of the…
Dec. 29– Hawaii Medical Service Association is boosting rates by an average 8.8 percent for 13,000 individuals renewing health insurance policies Tuesday. The state Insurance Division reduced HMSA’s proposed increase from 9.8 percent in a move estimated to reduce costs for the individual group market by $300,000 to $400,000, Insurance Commissioner…
Thirty years ago, the family of a victim of a heart attack or stroke was more likely to have to contend with the loss of a loved one. 1 Now, advances in medicine, prevention, improvement in early detection and other health care innovations have led to higher survival rates of these and other critical illnesses. To view the multimedia assets associated with this…
