Fair, Isaac and Company, Inc. a provider of analytics and decision technology, announced that global technology services company EDS has selected the Fair, Isaac Payment Optimizer solution to provide fraud detection services for the Eastern Medicare Benefit Integrity Support Center …
Louisiana’s Department of Insurance Fraud Unit investigators served cease and desist orders to Linda Foxworth McMillan and A Aabco Insurance Agency of Bogalusa, prohibiting both from conducting any kind of insurance business in the state of Louisiana, according to acting …
Swiss Re didn’t manage to dodge the bullet as successfully as its German rival (see Munich Re article). The Group announced that it expects to post a net loss of SwF 91 million ($65.75 million) for 2002, due largely to …
Munich Re managed to avoid the falling equity values and rising reserve costs that bedeviled many insurers last year. On Thursday the company reported provisional figures showing Group premium growth of 10.8% to 40 billion Euros ($42.6 billion), “driven by …
Legislation authored by Texas Senator Troy Fraser to speed insurance companies’ response to water damage claims, limit the amount insurers can charge homeowners for previous water damage claims, and require the licensing of public insurance adjusters was approved by the …
California’s Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee approved the filing of a 10.6 percent increase in advisory pure premium rates March 26. The rates are to be effective on policies incepting on or after July 1, 2003. The …
Florida’s Chief Financial Officer Tom Gallagher praised the Senate Banking and Finance Committee’s passage of a bill that would provide stronger criminal penalties for operators of unlicensed insurance entities who sell their bogus products to Floridians. According to the Department …
Century Insurance Group announced several staff promotions and additions in its Columbus, Ohio-based Eastern regional office and its Phoenix, Ariz.-based Western regional offices. Century underwriting and claims staff receiving promotions include Tom Rossi to assistant vice president, National Casualty Underwriting; …
Standard & Poor’s has lowered its counterparty credit and financial strength ratings on the members of the Kemper Insurance Cos. Intercompany Pool (Kemper pool) to ‘B-‘ from ‘B+’. In addition, Standard & Poor’s lowered its rating on Lumbermens Mutual Casualty …
The Alliance of American Insurers (AAI) is urging the Michigan Legislature to change the Standard Fire Policy Act related to commercial insurance policies, a move that would reportedly make the state’s commercial insurance market more stable. Under the bill, HB …