A California Department of Insurance Advisory Notice significantly restricts homeowners insurance underwriting and, if fully implemented, reportedly could result in fewer choices and higher prices for consumers in the state. The Association of California Insurance Companies (ACIC), and affiliate of …
New Jersey’s Acting Attorney General Peter Harvey announced that the architect of a large scale, multiple defendant conspiracy to defraud two insurance companies out of more than $600,000 pled guilty Monday in Middlesex County Superior Court to charges of conspiracy …
California-based Veterinary Pet Services, Inc. (VPSI), the parent company of Veterinary Pet Insurance (VPI) and its subsidiary, DVM Insurance Agency, announced net income for the year ending Dec. 31, 2002 of $2.3 million or $0.49 per diluted share, an increase …
Dallas-based GAINSCO INC. was hit with a class action lawsuit, filed in the United States District Court for the Southern District of Florida on behalf of purchasers of the company’s publicly traded securities during the period between November 17, 1999 …
Kroll Inc. is adding kidnap & ransom (K&R) insurance brokered by Asset Security Managers (ASM), a wholly-owned subsidiary of Aon Limited, based in Chicago. Kroll’s new, non-exclusive arrangement with ASM, enables clients of Kroll’s K&R crisis management and other services …
As the 2003 Florida legislative session winds down, insurers are reportedly keeping a close eye on key bills concerning PIP reform, flex rating, workers’ compensation, and credit scoring. Budget concerns reportedly continue to dominate the state’s political environment. However, insurers …
Munich Re recently announced its chief executive, Hans-Juergen Schinzler, will step down at the end of 2003 and be replaced by board member Nikolaus von Bomhard, according to the Associated Press. Schinzler resignation is at his own accord, as part …
Insurance Commissioner George Dale announced that the Mississippi State Rating Bureau has upgraded the public fire protection facilities of New Augusta, Mississippi. The fire prevention and protection facilities of New Augusta have been upgraded to a Class 8 fire insurance …
A McDowell County resident was indicted on April 7 by a Mitchell County Grand Jury on allegations of defrauding hundreds of insurance policyholders, Insurance Commissioner Jim Long announced recently. Harold T. Davis, a former insurance agent with State Farm Insurance …
Safeco reported first-quarter net income of $90.0 million, or $0.65 per diluted share in a release today. The numbers mark a significant improvement over the same period in 2002, when Safeco generated net income of $63.6 million, or $0.50 per …