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Standard & Poor’s said it placed the...

Standard & Poor’s said it placed the debt ratings of Farmers Group Inc. and Fireman’s Fund Corp. on its Creditwatch list for possible downgrading, contending that passage of the sweeping Proposition 103 insurance reform initiative could hurt profits of the two property-casualty insurance firms. S&P; also placed the claims-paying ability of Allstate Insurance and Safeco Insurance Co. of America on Creditwatch for possible downgrading.


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