Authorities announced the arrest of 51 individuals as part of the takedown of a no-fault insurance fraud ring in New York City last weekend. All are accused of taking part in a scheme that netted millions of dollars. The joint …
Following the completion of a previously announced review, Safeco strengthened reserves for workers’ compensation, affecting third-quarter financial results by $0.96 per diluted share. Safeco increased loss reserves and allocated loss adjustment expense reserves by $180 million pretax ($117 million after …
Regions Financial Corp. reported it has acquired the assets of Louisiana-based Merchants Insurance Services Inc. The Merchants organization consists of four retail insurance agencies operating under the trade name the Crick Agency and a specialty wholesale managing general agency using …
Dallas-based U.S. Risk Insurance Group Inc. (U.S. Risk) announced it has entered into a financial transaction with London-based Insurance Broker, NCG Professional Risks Ltd. (NCG). The transaction involves U.S. Risk International Ltd. (a subsidiary of U.S. Risk Insurance Group Inc.) …
Insurance companies using credit-based insurance scores to underwrite and rate insurance coverage in Florida should reportedly be aware that the Florida Office of Insurance Regulation (OIR) will be taking a tough stance on the use of credit in the state. …
In a move that will reportedly help insurers fight auto fraud in the state, the Florida Joint Underwriting Association (JUA) board recently agreed to finance a prosecutor in the Dade County State’s Attorney’s Office dedicated to auto personal injury protection …
Vaughn McKoy, New Jersey’s Director, Division of Criminal Justice, announced that a former Cumberland County Motor Vehicle Commission (MVC) supervisor has received a probationary sentence for reportedly selling a fictitious duplicate motor vehicle title to a person unable to legally …
Hurricane Juan, a category 2 storm on the Saffir/Simpson scale with sustained winds of around 80 mph (130 kph), slammed into Nova Scotia and Prince Edward Island early this morning, bringing heavy rains and storm surge flooding. According to the …
The entire Italian Peninsula from Venice to Sicily was plunged into darkness early Saturday morning by a massive power failure that knocked out the national electrical grid, stranding travelers, creating chaos in the streets and largely bringing the country to …
The American Insurance Association has issued a bulletin which indicates that New Hampshire’s adoption of Rule INS 3701.01, implementing regulations for safeguarding customer under Gramm-Leach-Bliley Act, is consistent with the act’s requirements, and “most other state regulation.” Paul Moran, AIA …