A.M. Best Co. has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of MLMIC Group, which is based on the consolidated operating performance and financial condition of Medical Liability Mutual Insurance Company, and its wholly owned …
California-based ADP Claims Services Group, a provider of information services for the insurance, collision repair and automotive recycling industries, announced the 10 millionth total loss valuation transaction executed by Autosource®, a database of “for sale” vehicle valuation information. The 10 …
Peter Harvey, First Assistant Attorney General and Director of the Division of Criminal Justice, announced that a Burlington County, N.J. man has pleaded guilty to attempted theft for reportedly filing false property theft claims totaling more $7,000 with two insurance …
Alabama-based Vesta Insurance Group announced that it has settled its claim made in 1998 under the previous directors and officers liability insurance policy issued by Cincinnati Insurance Company for $16 million in cash, and all other claims in the litigation …
Oracle Corporation Australia Pty Limited (“Oracle Australia”), a subsidiary of Oracle Corporation, announced that WorkCover Queensland has gone live with a new policy and claims system built using Oracle9i Application Server. This system is designed to allow WorkCover Queensland to …
Florida’s top business associations have demanded that state legislators fix the broken medical liability system, saying it is one of the key reasons healthcare costs are skyrocketing for employers and workers. The five associations – representing thousands of Florida businesses …
Bermuda-based White Mountains Insurance Group, Ltd. ended 2002 with a fully converted tangible book value per share of $259, a 15 percent increase for the year. The company’s comprehensive net income for 2002 was $290 million (excluding $660 million of …
Unless a claim is filed, workers’ compensation insurers reportedly would not know if an employee’s name is included in the infamous Specialty Designated National (SDN) list of criminals and terrorists targeted by the U.S. government. The National Association of Independent …
The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and 2001, as well as exposures to asbestos claims from business written prior to …
Standard & Poor’s has assigned its ‘A-‘ insurer financial strength rating on New Zealand-based AA Insurance Ltd. (AAIL). The rating reflects the company’s core status in the Royal & Sun Alliance Insurance (New Zealand) Ltd. group and demonstrated strong links …