Archive for April 2015

A.M. Best has downgraded the financial strength rating to B- (Fair) from B (Fair) and the issuer credit rating to “bb-“ from “bb” of Unique Insurance Co. (Unique) of Chicago, Ill. The outlook for both ratings has been revised to negative from stable. … The article Ratings of Illinois-Based Unique Insurance Downgraded appeared first on…

Two lawsuits have been filed against FedEx Ground Package Systems claiming the shipping giant substantially contributed to the deaths of Cheyenne residents. The Wyoming Tribune Eagle reported that the families of two people who died in a head-on collision on … The article FedEx Faces California Suits After Trucks Kill Nearby Drivers appeared first on…

Though many researchers in California are focused on the lack of rain, a group in the Bay Area found that if the skies do open up flooding will be a problem. The San Mateo County Times reported that the nonprofit … The article Despite California Drought, Bay Area Researchers Fear Flooding appeared first on Insurance…

The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign reinsurers to set aside against policies. EU states agreed on Tuesday to give the bloc’s … The article EU Mounts Fresh Bid to End U.S. Reinsurance Collateral Rule appeared first…

Dave Wagner has joined Southwest Risk LP in Dallas to serve as relationship manager. Wagner began his insurance career in 1987 in western New York and has 28 years of marketing experience. Most recently, he was with the Independent Agents Association of Texas ably … The article Wagner Joins Southwest Risk in Dallas appeared first…

A divided state Senate approved revisions to Michigan’s auto insurance law that backers said would curtail costs in the only state to require unlimited medical benefits for those severely injured in crashes and that opponents warned wouldn’t guarantee rate relief. … The article Michigan Auto Insurance Bills Passed by Senate appeared first on Insurance Journal.…

A judge has rejected a California timber company’s attempt to undo a $47 million legal settlement for a massive 2007 wildfire. Sierra Pacific Industries had accused federal prosecutors of engaging in misconduct. But according to the Sacramento Bee, a federal judge ruled … The article Judge Rejects Effort to Undo California Wildfire Settlement appeared first…

A hacker who helped break into the computer systems of DirecTV, Farmers Insurance and the Los Angeles Department of Public Works is going to federal prison. Mario Chuisano was given a three-year sentence last week and ordered to pay nearly $2.7 … The article Man Who Hacked Farmers Insurance, Government Sentenced in California appeared first…

Montana senators have endorsed a proposal to double DUI fines. Seven Democrats joined 20 Republicans Saturday to approve House Bill 488 on a 27-23 vote that reversed the Senate’s Friday opinion against the bill. The Republican proposal would double minimum … The article Higher DUI Fines OK’d by Montana Senate appeared first on Insurance Journal.…