The Tennessee Department of Commerce and Insurance says it has licensed its first captive insurance company since the revision of the states regulation of the captive industry earlier this year.
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.
Fireman’s Fund says CEO Michael LaRocco has left the company to pursue other professional opportunities and has been replaced by Lori Dickerson Fouché.
California Insurance Commissioner Dave Jones has placed specialty workers’ compensation insurer Majestic Insurance Company into conservation by order of the San Francisco Superior Court.
RLI Corp. said that it will acquire Contractors Bonding Insurance Co. through an acquisition of its holding company, Data and Staff Service Co. for approximately $137 million in cash.