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Rating agencies downgraded PMI Mortgage Insurance Co., part of the PMI Group, after the company announced that the Arizona insurance department placed it under regulatory supervision.

The Arizona Department of Insurance has placed PMI Mortgage Insurance Co. (MIC) and PMI Insurance Co. (PIC) under supervision and has ordered the companies, both part of the PMI Group, to cease issuing new mortgage insurance commitments.

The Arizona Department of Insurance has placed PMI Mortgage Insurance Co. (MIC) and PMI Insurance Co. (PIC) under supervision and has ordered the companies, both part of the PMI Group, to cease issuing new mortgage insurance commitments.

Mortgage insurer The PMI Group Inc. has fallen below the New York Stock Exchanges listing requirement of $1 per share for 30 days.

Mortgage insurer The PMI Group Inc. has fallen below the New York Stock Exchanges listing requirement of $1 per share for 30 days.

Standard & Poor’s has lowered PMI Mortgage Insurance Co.’s financial-strength ratings to CCC-minus from B-minus, saying statutory insolvency and/or regulatory action on the company is possible by the end of the year.

PropertyCasualty360.com’s Claims Channel Editor Christina Bramlet is twittering every day about breaking news and timely topics. Check out the latest claim-related tweets.

The March 11 Japan earthquake and tsunami has significantly impacted the country’s automotive industry, and the ripple effects are being felt in the automotive-insurance and collision-repair industries as replacement parts become scarce, a new report says.