Personal Lines

Moody's Investors Service said it has downgraded loss-battered New York-based bond insurer Ambac Assurance Corp. and Ambac Assurance UK Ltd., dropping "Adequate" ratings for both to "Ba3" from "Baa1."

The Nevada Surplus Lines Association said in cooperation with the Nevada Division of Insurance it has launched a television advertising campaign advising consumers to do thorough research before buying insurance.

A four-year-old legal battle in Michigan over the state regulator's attempt to ban insurer use of credit scoring may be headed to the State Supreme Court after a judge's recent ruling in favor of carriers that oppose the prohibition.

Two property-casualty insurance trade groups have argued to Congress that American International Group is off the mark in saying that its bankruptcy would pose a "systemic risk" to the property-casualty insurance industry.

U.S. property-casualty insurers have weathered the global financial crisis well because of a superior risk management model, Robert Hartwig, president of the Insurance Information Institute, told an industry conference today.

Coral Insurance Company, a Florida residential property insurer with 11,750 homeowner policyholders, has been put in receivership, the Florida Department of Financial Services announced yesterday.