Three San Diego residents must pay more than $125,000 in restitution after pleading guilty to insurance fraud. The convictions followed an investigation by the California Department of Insurance (CDI) Investigation Division, which found that the trio’s American Employees Benefits Association …
Standard & Poor’s has published a report on the Asia-Pacific non-life reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to under priced excess capacity.” “Over the past two years, …
Despite an initial rush of proposed legislation aimed at dealing with the problems related to mold claims and homeowners insurance, very few bills have been enacted in 2003, according to the Alliance of American Insurers. “Compared with 2002, when only …
The California Department of Insurance’s proposal to further regulate the special investigations units of insurance companies is excessive and unnecessary according to the Alliance of American Insurers. In written comments on the Department’s proposed emergency regulations, Alliance vice president and …
When I first became an insurance regulator in 1999, I was alarmed by the aggressive tone of those who were advocating for a takeover of state insurance regulation by the federal government. At that time, I mentioned to Mike Pickens, …
Denver-based Valen Technologies, a provider of intelligent predictive analysis and decision enabling software, today was launched by a group of prominent industry veterans. The company, which has developed one of the first ever analysis tools using statistical learning theory, announced …
The National Association of Insurance Commissioners (NAIC) released its proposed budget for the year 2004 during its Fall National Meeting and announced a public hearing to discuss the budget via a conference call scheduled for Nov. 3. “This budget package …
Mississippi homeowners who suffered property loss or damage as a result of Hurricane Georges and whose recovery under their homeowner insurance policies was reduced or eliminated have filed a motion today to have a class action lawsuit certified against State …
The 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute wound up proceedings in London last Friday on an upbeat note. President Andy Homer told delegates that the industry “needs leaders that will actually lead.” He also …
A Williston, North Dakota man has become the first employer ever sentenced to serve jail time for committing workers’ compensation fraud in North Dakota. Robert Bartels, doing business as Bartels Construction, was sentenced to serve five days of a one …