News

A new firm that says it aims to help insurance agents and agency owners with a distinctive sales strategy that leads with workers' compensation announced it has commenced operations.

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."

Do Eliot Spitzer's views on the financial crisis have value despite his exit in disgrace as New York's governor? Click to www.property-casualty.com to answer this week's NU online poll.

In NU's most recent online poll, 78 percent do not believe AIG will ever repay taxpayers for its federal bailout. NU Editor In Chief Sam Friedman assesses the odds for himself in his blog today at www.property-casualty.com.

Daytona Beach, Fla.-based insurance brokerage Brown & Brown said it has acquired W. R. Reed & Co. of Portland, Ore. Financial terms were not released.

Financially troubled Bermuda-based surety insurer Syncora Holdings Ltd. has been delisted from the New York Stock Exchange and will no longer file as a publicly traded company, the firm announced.