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

ISO Introduces Online Medical Reference Library

New Jersey-based Insurance Services Office, Inc. (ISO) has introduced an on-line medical reference library as a resource for insurance claims adjusters to learn quickly about various injuries, treatments and complications relating to claims handling. The new Medical Library for Claims …

RMS Provides Cost Estimates for Bioterrorism Attack Simulation Conducted by Dept. of Homeland Security

Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has developed estimates of the economic costs associated with alternative responses to a hypothetical bio-terrorism attack in Chicago as part of a U.S. government …

AXIS Capital Reports Net Income of $117.8M for Q2

Bermuda-based AXIS Capital Holdings Limited reported net income for the quarter of $117.8 million, or $0.81 per diluted share, compared to $30.0 million, or $0.22 per diluted share, for the second quarter ended June 30, 2002, an increase of $87.8 …

S&P Affirms American Family ‘AA-‘ Ratings

Standard & Poor’s has affirmed its ‘AA-‘ long-term counterparty credit and financial strength ratings on all units of American Family Insurance Group (American Family) based on the companies’ diminishing – though still very strong – level of capitalization, limited financial …

SCPIE Holdings Notes Q2 Results

SCPIE Holdings Inc., a provider of healthcare liability insurance, reported results for its second quarter and six months ended June 30, 2003, reportedly representing continued progress in its efforts to return the company to sound financial performance. For the 2003 …

Iowa Pols Sue Gov. Vilsack for Veto of WC & Tort Reforms

Iowa Gov. Tom Vilsack’s line item veto of legislation that supporters say would have improved the state’s business climate is being challenged in court. Republican legislators filed a lawsuit late last week that challenges the governor’s constitutional ability to line …

CNA Financial Reports Q2 Net Income of $70M; Reductions in Workforce to Occur

CNA Financial Corporation reported net income for the second quarter of 2003 of $70 million, or $0.25 per share, as compared with net income of $31 million, or $0.14 per share, for the same period in 2002. Net income for …

Fla. Doctors Detail Worsening Medical Liability Crisis

According to the Coalition to Heal Healthcare in Florida, more than 1,600 doctors from across Florida gave sworn statements to a state Senate panel this week detailing how the worsening medical liability crisis is forcing them to change their practices …

Argonaut Sees 46% Increase in GWP for Q2

San Antonio-based Argonaut Group Inc. announced financial results for the three- and six-month periods ended June 30, 2003, noting that the group’s gross written premium during the second quarter increased to $199.5 million or 46 percent over the same period …

Nev. Attorney General’s Fraud Unit has Record Year

Nevada Attorney General Brian Sandoval announced that the Attorney General’s Insurance Fraud Unit (IFU) ended a record year for referrals of suspected insurance fraud as well as convictions for proven cases of fraudulent claims. “The rise in complaints speaks well …