A.M. Best Co. has upgraded the financial strength rating of Majestic Insurance Company of San Francisco to A- (Excellent) from B++ (Very Good), removed the ratings from under review and assigned an issuer credit rating of “a-“. Concurrently, A.M. Best has assigned an ICR of “bbb-” and a debt rating of “bb” to the $8 …
CRM Holdings, Ltd. reports that the California Department of Insurance has approved its acquisition of Embarcadero Insurance Holdings, Inc. and its subsidiary, Majestic Insurance Co., a writer of workers’ compensation insurance for large and medium-size businesses, and that CRM will be proceeding with the impending close of the $45 million transaction. CRM made the announcement …
SACRAMENTO – Lt. Governor Cruz Bustamante will not be spending the next four years in the California insurance commissioner’s suite. After a grueling race in which, Bustamante says, money spoke louder than words, Cruz conceded to Republican Steve Poizner in the insurance commissioner’s race last night around 9:30 p.m. While Bustamante was humble in defeat, …
Oklahoma Incumbent Seeking First Full Term Kim Holland, who was appointed by Oklahoma Gov. Brad Henry last year to replace her disgraced predecessor, is seeking her first full term as …
California, N.Y. Regulators Settle Unum Provident Case The offices of California Insurance Commissioner John Garamendi and New York Attorney General Eliot Spitzer announce that they have settled an investigation on …
The Department Targets Former Fremont Officers The saga of Fremont Indemnity Company continues as the California Department of Insurance makes new allegations related to the now defunct carrier. And this …
The Department Targets Former Fremont Officers The saga of Fremont Indemnity Company continues as the California Department of Insurance makes new allegations related to the now defunct carrier. And this …
The Office of Administrative Law will hear a petition brought by IBA West against the Department of Insurance, which the brokers’ and agents’ group accuses of trying to make an “underground regulation” by designating a recent settlement as precedent. In other words circumstances in a case that an insurer decided to settle with the department …