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Mo. Legislature Approves Workers' Comp Bill That Gov Had Previously Vetoed: Missouri legislators have approved a workers' compensation bill that contained similar provisions from a more comprehensive reform bill vetoed by Gov. Jay Nixon. Legislators passed SB 1540, which gives an employee pr...
Date: May 18, 2012 Source: BestWire News

A.M. Best Downgrades Ratings of Gramercy Insurance Company: A.M. Best Co. has downgraded the financial strength rating to C++ (Marginal) from B (Fair) and issuer credit rating to “b” from “bb” of Gramercy Insurance Company (GIC) (Dallas, TX). The outlook for both ratings is negative....
Date: May 18, 2012 Source: BestWire News

Assurant Reaches Agreement to Refund $2.75 Million: Assurant Health has reached an agreement with the Indiana Insurance Department to refund $2.75 million in insurance premiums. The department reviewed the company's health insurance rates for three of its subsidiaries...
Date: May 18, 2012 Source: BestWire News

Former AIG CFO Wins Court Decision to Access Spitzer's 'Private' Email: Howard Smith, the former chief financial officer of American International Group Inc, has won a court battle to force the New York Attorney General's Office to access former Attorney General Eliot Spitzer's private email acco...
Date: May 18, 2012 Source: BestWire News

Ironshore Canada Partners With Mitsui Sumitomo to Boost Casualty Capacity: Ironshore Canada Ltd. is teaming up with Mitsui Sumitomo at Lloyd’s to increase its specialty casualty capacity to $25 million from $10 million. A consortium approach is not seen every day, but is becoming more commo...
Date: May 18, 2012 Source: BestWire News

Texas Windstorm Insurance Association Hikes Rate, Mulls Territorial Changes: The Texas Windstorm Insurance Association's level of exposure and insufficient financing mechanisms could leave the coastal insurer of last resort without adequate funding in the long run, according to a commissioned report....
Date: May 18, 2012 Source: BestWire News

McRaith: FIO Working to Coordinate International Regulatory Developments: Federal Insurance Office Director Michael McRaith testified before a U.S. House of Representatives subcommittee, telling lawmakers he is working to ensure U.S. and European Union regulators are on the same page in developing ...
Date: May 18, 2012 Source: BestWire News

A.M. Best Affirms Ratings of Premera Blue Cross and Its Subsidiaries: A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Premera Blue Cross (Premera) (Seattle, WA) and its subsidiaries, LifeWise Assurance Company (LifeWise...
Date: May 18, 2012 Source: BestWire News

A.M. Best Affirms Ratings of Ardellis Insurance Ltd.: A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Ardellis Insurance Ltd. (Ardellis) (Bermuda). The outlook for both ratings is stable. The ratings of Arde...
Date: May 18, 2012 Source: BestWire News

A.M. Best Downgrades and Places Ratings of Cooperativa de Seguros de Vida de Puerto Rico Under Review With Negative Implications: A.M. Best Co. has downgraded the financial strength rating to C++ (Marginal) from B- (Fair) and issuer credit rating to “b” from “bb-” of Cooperativa de Seguros de Vida de Puerto Rico (COSVI) (San Juan, PR). Both ratings have...
Date: May 18, 2012 Source: BestWire News

US House Sends 30-Day NFIP Extension to the Senate: The U.S. House of Representatives has passed an industry-supported short-term extension of the National Flood Insurance Program that would stave off a lapse of the program at the end of this month. In a bipartisan 4...
Date: May 18, 2012 Source: BestWire News

A.M. Best Affirms FSR & Downgrades ICRs of State Automobile Mutual Insurance Company & Its Operating Subsidiaries: A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and downgraded the issuer credit ratings (ICR) to “a” from “a+” of State Automobile Mutual Insurance Company (State Auto) and its operating subsi...
Date: May 18, 2012 Source: BestWire News

A.M. Best Affirms Ratings of Flagstone Reassurance Suisse S.A.: A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Flagstone Reassurance Suisse S.A. (Martigny, Switzerland) and Flagstone Alliance Insurance and Reinsurance ...
Date: May 18, 2012 Source: BestWire News

A.M. Best Affirms Ratings of Consumer Insurance Services Limited: A.M. Best Co. has affirmed the financial strength rating of B++ (Good) and issuer credit rating of “bbb” of Consumer Insurance Services Limited (CISL) (New Zealand). The outlook for both ratings is stable. The rating...
Date: May 18, 2012 Source: BestWire News

A.M. Best Revises Outlook to Stable for Ratings of Builders Insurance (A Mutual Captive Company) and Its Subsidiaries: A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of Builders Insurance (A Mutual Captive Company) and its wholly owne...
Date: May 18, 2012 Source: BestWire News

A.M. Best Revises Outlook of Issuer Credit Rating to Positive for Trans-Oceanic Life Insurance Company: A.M. Best Co. has revised the outlook for the issuer credit rating (ICR) to positive from stable and affirmed the financial strength rating (FSR) of B++ (Good) and ICR of “bbb” of Trans-Oceanic Life Insurance Company (TOLIC) ...
Date: May 18, 2012 Source: BestWire News

BestWeek: Cat Magnet Oklahoma Sees Deteriorating Adjusted Loss Ratio: Terrible weather has racked up plenty of losses for insurers, but Oklahoma has the distinction of having one of the worst adjusted loss ratios in its part of the country, according to the most recent issue in BestWeek U.S./Ca...
Date: May 18, 2012 Source: BestWire News

A.M. Best Affirms Ratings of Jupiter Insurance Limited: A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of A (Excellent) and issuer credit rating of “a” of Jupiter Insurance Limited (Jupiter) (Guernsey). The outlook for both ratings is stable....
Date: May 18, 2012 Source: BestWire News

Kingstone Cos. Leads Thursday's AMBG as Global Insurance Index Declines 1.53%: The AMBG closed Thursday, May 17, at 807.00 (-1.53%). Of the 15 A.M. Best stock indexes, one rose and 14 declined. Leading A.M. Best's Global Insurance Composite Index (AMBG) were Kingstone Cos. Inc. (+20.86%) and National Re...
Date: May 18, 2012 Source: BestWire News

Japan's Meiji Yasuda Increases Stake in Indonesia Life Venture Avrist: Meiji Yasuda Life Insurance Co. Ltd. has increased its stake in PT Avrist Assurance from 5% to 23% in line with the Japanese mutual life insurer's expansion into Indonesia's life insurance market. Avrist Assurance w...
Date: May 18, 2012 Source: BestWire News