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Senate Bill 1061 was introduced by Sen. Alan Sanborn, R-Richmond, to amend the insurance code and allow captive insurers. Also enacted was Senate Bill 1062, which exempts captives from a 1.25 percent

Insurance fraud schemes investigated by the department's Frauds Bureau along with local authorities also led to court-ordered restitution of $20 million stemming from convictions against 147 people in

Moody's Investors Service and Standard & Poor's affirmed Ambac's financial strength rating yesterday and Fitch did the same. All three said the outlook is negative reflecting the volatility of the bon

Berkeley Heights, N.J.-based Palisades Safety and Insurance Association announced today that it has an agreement to acquire publicly held National Atlantic Holdings Corporation, including its subsidia

The firm reported net income dropped ?1.6 million ($3.2 million U.S. at the current exchange rate) to ?37 million ($75 million) for the year. Earnings per share remained relatively unchanged at 16 pen

Fitch said the most significant change will be that it will now rate all catastrophe bond tranches (segments or tiers) against a probability of loss criterion, as opposed to only rating investment-gra