Insurance industry
A.M. Best Company, a leading insurance industry analyst, has issued a report on Cigna Corp.'s proposed "good bank/bad bank" restructuring, which has sparked industry debate over the precedent it may set for the insurance industry. According to the report, "Good Bank/Bad Bank&
Insurance industry
Duff & Phelps Credit Rating Co. has placed the 'AA+' claims paying ability rating of Life Insurance Company of Virginia (LOV) on Rating Watch -- Uncertain following AON Corporation's announcement that it has signed a definitive agreement to sell LOV to General Electric Capital Corporation (GECC)
Insurance industry
As the use of tetra-ethyl lead in gasoline is phased out in accordance with the Clean Air Act Amendments of 1990, the American Automobile Association is warning drivers of older cars to take special care to maintain their vehicles' performance. According to George Giek, managing director of AAA Automotive
Insurance industry
Quaker Fabric Corporation, a leading manufacturer of woven upholstery fabrics, has completed two significant financing transactions that will enable the company to execute its aggressive strategic objectives. The transactions, totaling $80 million, include an unsecured senior debt transaction with The Prudential Insurance Company of America and an amendment to the
Insurance industry
The Northwestern Mutual Life Insurance Company, the sixth largest life insurance firm in the U.S., has standardized on Sybase software for its client/server computing environment. The company, founded in 1857, serves over 2.5 million policyholders nationwide and has chosen Sybase SQL Anywhere, a full-featured database optimized for
Insurance industry
Utah residents have become the first in the country to receive online auto insurance quotes through InsWeb, the consumer-centric internet gateway to the insurance industry. InsWeb has partnered with Workmen's Auto Insurance Company, a specialty writer of private passenger auto insurance for hard-to-place risks, to offer online quotes
Insurance industry
TRIGON Blue Cross Blue Shield, a 1.8 million-member managed care organization, has selected Episode Treatment Groups (ETGs) from Symmetry Health Data Systems, Inc. as its episode-building, patient classification methodology. TRIGON will use ETGs for quality improvement, network management, utilization management, and reimbursement. This selection marks a significant milestone for
Insurance industry
The Travelers Group, Inc.'s planned acquisition of the domestic property and casualty business of Aetna for $4.0 billion has been affirmed by Fitch, with the credit trend remaining improving. The affirmation follows the announcement of the company's planned acquisition, which will create the fourth largest
Insurance industry
Informix Software, Inc., the leader in parallel processing database technology, has announced a contract with Seguros Monterrey Aetna, one of the largest insurance companies in Mexico, to restructure the company's large insurance client database and support 2,000 users throughout the country. Seguros Monterrey Aetna has chosen to
Insurance industry
As the cold winter months approach, homes become breeding grounds for potential fire hazards, with the three coldest months of the year typically accounting for the largest number of home fires. According to ITT Hartford Insurance Group, nearly 31% of all home fires reported in 1994 occurred during January, February,
Insurance industry
Guardian Life Insurance Co. of America and ONE Health Plan of California, a subsidiary of Great-West Life & Annuity Insurance Co., have entered into a strategic marketing agreement that will give ONE access to Guardian's vast network of 3,000 company agents and 50,000 independent brokers across
Insurance industry
In a major development, the board of directors of Lawrence Insurance Group Inc. (LIG) has voted to consent to a New York State Order of Liquidation of United Community Insurance Company (UCIC). This move will not impact LIG's other subsidiaries and will enable the company to refocus its
