Atlanta-based Crawford & Company announced its financial results for the second quarter ended June 30. Second quarter 2003 revenues before reimbursements totaled $176.3 million compared with $178.0 million in the 2002 second quarter. Second quarter 2003 net income was $6.1 …
Eight people were arraigned recently on charges of insurance fraud and assault with a deadly weapon resulting from an ongoing investigation by the California Department of Insurance (CDI) Fraud Division, the California Highway Patrol, and the National Insurance Crime Bureau. …
In an effort to bring medical malpractice liability limits to within reach of Gov. Jeb Bush’s stated preference, the Florida Senate President James King offered a new plan that would limit total non-economic damages to $4 million, according to the …
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Royal Bank of Canada Insurance Company Ltd., (RBCI) (St. Michael, Barbados). The rating has a stable outlook. The rating for RBCI reflects its prudent capitalization, excellent underwriting …
A.M. Best Co. has downgraded the financial strength rating to E (Under Regulatory Supervision) from C++ (Marginal) of Wasatch Crest Mutual Insurance Company (WCM). The rating reflects the Utah Insurance Department’s seizure of WCM on July 11, and the filing …
Efforts by Utah Gov. Mike Leavitt (R) to make sure the debate over the future of the Workers Compensation Fund of Utah (WCF) and its subsidiaries focuses on “big picture” issues and doesn’t degrade into an argument over details is …
The four national property/casualty insurance industry trade associations filed an amicus brief late last week with the 11th Circuit Court of Appeals opposing the use of a national class action to resolve insurance rate regulation issues that fall under the …
Hilb, Rogal and Hamilton Company has acquired the remaining 49 percent interest in New World E&S, LLC (New World), a casualty excess and surplus lines facility specializing in excess general liability and umbrella coverages. New World also specializes in risks …
Penn National Insurance recently hired Bryce Goodwin as its new commercial lines territory manager in northern New Jersey. “Bryce brings more than 25 years of industry expertise and multi-line knowledge to Penn National Insurance,” said Eric Lange, New Jersey operations …
A woman and her son are facing insurance fraud charges after the two allegedly faked injuries from an automobile accident. AIG Insurance Company reported the suspicious claims after being billed more than $8,000 for personal injury protection coverage. Marie Duclervil, …