Florida’s Chief Financial Officer Tom Gallagher said the Pete Orr Insurance Anti-Fraud Act, which the governor signed into law late last week, is expected to significantly boost efforts to prosecute operators of unlicensed insurance entities that have left Floridians on …
Wisconsin’s Office of the Commissioner of Insurance (OCI) has taken the following administrative actions. In many of these cases the respondent denied the allegations but consented to the action taken. OCI is responsible for overseeing the operations and marketing of …
A.M. Best Co. has affirmed the financial strength rating of B++ (Very Good) of Reaseguradora Patria S.A. (Mexico City). The rating outlook is stable. The rating reflects Patria’s good capitalization, solid balance sheet, excellent liquidity and experienced management team. Patria …
A.M. Best Co. has assigned a financial strength rating of A++ (Superior) to Tokio Millennium Re Ltd. (TMR), a Bermuda reinsurance subsidiary of The Tokio Marine and Fire Insurance Company Ltd (TMF), Japan. The rating outlook for both TMR and …
The National Association of Independent Insurers noted that the 2003 Vermont legislative session wrapped up with little impact on the property/casualty insurance industry. The bulletin indicated that the legislative session had been dominated by more pressing priorities, notably budget issues …
The Fraud Investigation Division of the Kentucky Department of Insurance announced a former Lexington insurance agent has been sentenced in Fayette Circuit Court on one felony count of fraudulent insurance acts. According to court documents, William O. Goebel III, 44, …
Arkansas Insurance Commissioner Mike Pickens announced that State Farm Fire and Casualty Insurance Company would immediately resume writing new homeowner’s policies in the State of Arkansas. The company returns to the Arkansas market after having ceased writing new homeowner’s coverage …
Beleaguered Kemper Insurance Cos. is putting up for rent two of the four buildings on its Long Grove, Ill., corporate campus, according to Crain’s Chicago Business. The two buildings’ space adds up to more than 520,000 square feet, a little …
A spokeswoman for indicted Chicago insurance broker Michael Segal told Insurance Journal he is likely to hold a news conference to defend himself and his company, Near North Insurance Brokerage Inc., against federal charges of insurance and mail fraud. Insurance …
The property/casualty industry voiced its “strongest objections” to any decision by the National Association of Insurance Commissioners (NAIC) to extend the annual statement data collection parameters of their market conduct pilot project beyond the agreed upon time frame. The Alliance …