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

CIS Inc. Enters S.C. Non-Standard Auto Market

Jess Chappell, president and CEO of Savannah, Ga.-based CIS Inc., announced that CIS plans to enter into the South Carolina non-standard auto market by taking over the administration of an already existing program. “We are very excited about the opportunity …

SNS Now Authorized in 42 States

Fort Worth-based State National Companies announced that State National Specialty Insurance Company (SNS) was recently awarded authorizations to write multiple insurance lines in New Jersey and Michigan. The company said this marks 21 new authorizations for the company in the …

N.J. Expands Agent Base

Marking the reported continued progress made to reform auto insurance, New Jersey Governor James McGreevey this week welcomed the decision by Allstate New Jersey to expand the number of agents writing auto insurance. Joined by Banking and Insurance Commissioner Holly …

IMCO’s McFadden Passes Away

James “Jim” Caldwell McFadden, an insurance industry veteran, died Tuesday, Aug. 26 in his sleep. Survivors include his son, James C. McFadden Jr., and daughter Nicole McFadden of Half Moon Bay, Calif. His loyal companion Buddy, a Boston terrier, also …

Farmers Lowers Rates for Ill. Auto Customers

Farmers Insurance Group announced it is reducing auto rates in the state of Illinois. Farmers customers in Illinois will see a rate decrease of 4.2 percent effective Sept. 1. Farmers will also be introducing a brand new Affinity discount for …

DriveCam Video Systems Names Fisch Director of Engineering

San Diego-based DriveCam Video Systems, a developer of fleet safety technology, announced the appointment of Greg Fisch as director of engineering. Fisch will be responsible for the company’s research and development efforts in fleet safety technology that improves driving behavior …

S&P Lowers Munich Re Ratings to ‘A+’ – Company Response

Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on Munich Reinsurance Co. and related core subsidiaries of the Munich Re group, to ‘A+’ from ‘AA-‘ with a “stable” outlook. …

Fla. Cop Charged with Workers’ Comp Fraud

An 11-year veteran with the Sebastian, Fla., Police Department was arrested for allegedly lying about accepting additional employment while collecting workers’ compensation benefits due to on-the-job injuries. Investigators with the Department of Financial Services, Division of Insurance Fraud, charged Joseph …

NYSID Announces Arrest of Two Women for Fraudulent WTC Life Claims

New York’s Superintendent of Insurance, Gregory V. Serio, announced the arrests of Dorothy Johnson and Twila McKee, both of Milwaukee, Wisconsin, on charges of insurance fraud and attempted theft by fraud for submitting fraudulent claims to two life insurance companies …

SCOR Group Confirms 1st Half Results

The Board of Directors of French reinsurer SCOR met on Tuesday, Aug. 26, 2003 to approve the financial statements for the first half of 2003. The meeting, chaired by CEO Denis Kessler, formalized the results announced Aug. 12 (See IJ …