Monthly Archives: <span>May 2003</span>

IBC Applauds MTO Road Safety Legislation

Insurance Bureau of Canada says it is pleased with road safety amendments introduced Tuesday in Ontario’s Bill 20, The Road Safety Act, 2003. “As a key road safety partner with the Ontario Ministry of Transportation, Insurance Bureau of Canada congratulates …

CGI, HP Deliver Business Platform for Lloyd’s Kinnect

CGI Group (Europe) Ltd and HP (Hewlett Packard/Compaq) jointly announced that they have delivered a business platform for Kinnect Inc., a Lloyd’s of London sponsored initiative, to improve the efficiency and effectiveness of trading relationships within the international commercial lines …

NAII Supports Mass. Bill to Criminalize Insurance Fraud

The National Association of Independent Insurers says it is supporting a bill, currently pending in the Massachusetts Senate, that would impose jail time and heavy fines for insurance fraud, indicating that its passage “would help address the Bay State’s huge …

Warrantech Reaches Agreement on $20M Litigation with ACE P&C Co.

Warrantech Corporation, an independent provider of service contracts and after-market warranties, announced that an agreement has been reached with ACE Property and Casualty Insurance Company (ACE) to resolve all outstanding claims and disputes arising out of all business previously insured …

The Seibels Group Reports Q1 Profit

South Carolina-based The Seibels Bruce Group, Inc., announced financial results for the quarter that ended March 31, 2003. For the first quarter of 2003 the company posted a net profit of $1.4 million, or $0.17 per share (basic and diluted). …

Victims Speak Out on Med-Mal Crisis at Las Vegas Rally

A crowd of supporters assembled near the University Medical Center in Las Vegas Tuesday at a rally and news conference in which victims of the escalating medical liability crisis nationwide joined Nevada doctors, seniors, and business leaders in calling on …

Regulators Take Steps to Liquidate Company Serving Ala. Hospitals

Virginia insurance regulators informed Alabama Insurance Commissioner Walter Bell recently that they are taking steps to liquidate a company that provides liability coverage to 46 Alabama hospitals. The Virginia insurance commissioner suspended all hospital liability insurance claims and filed a …

Disaster Kleenup International Forms New Parent Company

Disaster Kleenup International, Inc., a network of independent property damage restoration contractors, announced the formation of a parent company, DKI Services Corporation, to expand the company’s services to better and more broadly serve the market. “The creation of DKI Services …

Piccola Unveils Contingency Fee Legislation During Pa. Physician Rally

Senate Majority Whip Jeffrey Piccola (R-15) unveiled new legislation Tuesday to several thousand members of the Politically Active Physicians Association (PAPA) during a rally held on the steps of the State Capitol. Piccola’s measure would reportedly establish a sliding scale …

Atlantic American Corp. Says Results Instill Future Confidence

Atlanta-based Atlantic American Corporation announced net income for the first quarter ended March 31, 2003 of $696,000 or $0.02 per diluted share, compared to a net loss of $14.3 million or $0.69 per diluted share in the first quarter of …