U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to preliminary estimates by Insurance Services Office, Inc.’s (ISO) …
The National Association of Mutual Insurance Companies (NAMIC) recently announced its national agenda of federal legislative issues for 2003. Topping the list of federal issues are insurance regulation, class action reform, small company tax inflation adjustment and insurance regulator access …
Standard & Poor’s commented on XL Capital Ltd.’s announcement that its subsidiary, XL Reinsurance America Inc., took a $215 million pretax adverse development charge for the fourth quarter of 2002. The charge will not affect the ratings on XLC, XLRA, …
Assembly Ways and Means members suggested that a pair of anti-fraud units in the Nevada office of Attorney General Brian Sandoval be removed because they aren’t cost-effective, according to an Associated Press report. An insurance fraud unit in the state …
The Hospital & Healthsystem Association of Pennsylvania (HAP) warned this week that the financial condition of the state’s hospitals is worsening. “A Preview: Hospital Financial Analysis 2002,” a new report by the Pennsylvania Health Care Cost Containment Council (PHC4), shows …
Bermuda-based AXIS Capital Holdings Limited announced its results for the year ended Dec. 31, 2002. Gross premiums written for the year were $1,108.0 million. Of the premiums written during the year, $793.8 million was derived from specialty lines and $314.2 …
Houston-based Rockport Healthcare Group Inc., a management company dedicated to developing, operating and managing a network consisting of healthcare providers and medical suppliers that serve employees with work-related injuries and illnesses, announced its third consecutive profitable quarter and record revenue …
American Physicians Capital Inc. reported a net operating loss of $1.1 million, or 12 cents per diluted share, in the fourth quarter of 2002, compared to a net operating loss of $14.5 million, or $1.38 per diluted share, for the …
A Brevard County, Fla., construction company owner has been charged with workers’ compensation insurance fraud after investigators with the Florida Department of Financial Services made an unannounced visit to one of his construction sites. James Lenier Bland Sr., 43, of …
Armando M. Villesca Sr. of Fort Stockton, Texas, pleaded guilty to charges of workers’ compensation insurance fraud. A Travis County District Court judge ordered Villesca to submit to three years of community supervision, perform 180 hours of community service, pay …