What’s New: In Brief (October 02, 2007)

***CORRECTION*** The following item corrects information that appeared in a version of this previously published story. We apologize for the error.

Standard & Poors Rating Services increased The Guarantee Co. of North Americas long-term counterparty credit and financial strength ratings from a BBB+ to an A-.
According to Standard and Poors rating report, the ratings are reflective of the companys strong underwriting results in core surety and fidelity commercial lines, improvement in personal lines and strong capitalization.
The ratings also reflect the companys conservative enterprise risk management culture, disciplined underwriting, prudent use of reinsurance to manage its risks, and wide distribution network, Standard & Poors notes in a ratings report.
Standard & Poors noted a stable outlook for The Guarantee Co. of North America based on the expectation that the company will continue overall profitability in underwriting in addition to a strong capital adequacy position, according to the ratings report.

Craig Horton has been appointed to senior vice president, claims, with the Insurance Corporation of British Columbia.
Horton previously served as the vice president of claims operations with the California State Automobile Association, and brings with him over 30 years of property and casualty insurance industry experience, according to an ICBC appointment notice.
With the ICBC he will oversee the claims division, which includes services, programs and policies that support 39 claim centres and the 24-hour Dial-A-Claim call centre, according to the notice.