Standard & Poor’s Ratings Services announced that it has affirmed its ‘A’ long-term counterparty credit and insurer financial strength ratings on Switzerland-based Winterthur Swiss Insurance Co, with a “negative” outlook. S&P explained that Winterthur Swiss is the holding company for …
Workers’ compensation costs per claim in Illinois were among the highest of the states analyzed in a new study and continuing to rise, according to the Workers Compensation Research Institute (WCRI). The study of 12 states, representing 50 percent of …
California Department of Insurance (CDI) Fraud Division investigators, with the assistance of the Glendale Police Department, arrested Robert Galante, 45, of Simi Valley, on a felony warrant charging him with two counts of workers’ compensation fraud. The Ventura County District …
The National Association of Insurance Litigation Management has launched its new and improved Web site at www.nailm.org. The Web site allows for online membership applications, online seminar preview, and links to various industry sites. NAILM is the nation’s oldest association …
A.M. Best Co. has assigned an initial financial strength rating of B++ (Very Good) to Oriental Fire and Marine Insurance Company Ltd (OFMI), South Korea. The outlook is stable. The rating reflects OFMI’s strong market position in the commercial lines …
The Texas Independent Insurance Adjusters Assoc. Fall Seminar will be held Nov. 6 in Dallas. For more information, contact Roy Bohrer at (512) 454-8626 or log onto: tiiaa@assnmgmt.com or www.tiiaa.org
State Farm recently filed a lawsuit charging that a Florida company and a recruiter set up unnecessary, fraudulent medical tests on auto accident victims at chiropractors’ offices nationwide, according to Associated Press. The civil racketeering lawsuit contests more than 600 …
Standard & Poor’s has removed from CreditWatch and affirmed its ‘CCC’ counterparty credit and financial strength ratings on Trenwick Group Ltd.’s operating subsidiaries: Trenwick America Reinsurance Corp., Dakota Specialty Insurance Co., Insurance Corp. of NY, LaSalle Re Ltd., and Trenwick …
New Jersey’s Attorney General Peter Harvey announced that the Division of Criminal Justice – Office of Insurance Fraud Prosecutor has obtained criminal indictments against 38 North Jersey residents as a result of an eight-month undercover sting operation and related investigations …
Standard & Poor’s said today that the court ruling and subsequent acceptance by the German regulator allowing the sale of the Gerling group’s reinsurance operations Gerling-Konzern Globale Ruckversicherungs-AG (GKG; not rated) to private investor Dr. Achim Kann, will have no …