The NAIC's Securities Valuation Office, in New York, which rates securities, has classified some hybrid securities issues as equity, drawing a variety of objections from insurers and securities issuer

While three other companies in Florida were ordered into liquidation earlier this year (all members of Poe Financial Group), the Florida Select order is the first state action under a regulation requi

The International Insurance Society Inc. said Lawrence Lindsey, formerly director of the National Economic Council, and French Trade Minister Christine Lagarde will give keynote addresses at the group

The commissioner said in a statement that a recent Department of Insurance study showed homeowners writers paid far less than 50 cents on the dollar to cover policyholder claims, with Safeco coming in

Mr. Pataki had submitted Richard Bell, the board's chief executive, for the group's chairmanship. When that nomination failed to move, his name was resubmitted for a commissioner's post, which was app

The Penn Insurance Agency, founded in 1949, is an independent property-casualty insurance agency servicing the Boston area. Briarcliff Manor, N.Y.-based USI said the acquisition is expected to contrib

Hub said the 39-employee organization will add approximately $5.5 million Canadian (U.S. $4.9 million) to Hub International's revenue base and will become part of Hub International Quebec Limited. The

Property-casualty rates declined 7 percent last month, a point more than in May and more than twice the 3 percent cut recorded in the same period last year, according to the Market Barometer published