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

TWCC to Hold Safety Workshop in Laredo

The Workers’ Health and Safety division of the Texas Workers’ Compensation Commission will present a one-day educational seminar on Supervising for Safety, on Wednesday, Jan. 21, 2004, from 8 a.m. to 5 p.m. Registration is at 7:30 a.m. The seminar …

Feds Charge 6 in Executive Life Case

Federal prosecutors in Los Angeles unsealed the long-awaited Grand Jury indictments on Wednesday against six persons, alleged to have committed fraudulent acts in connection with the 1991 takeover of Executive Life by Altus Finance, and the subsequent cover-up of the …

Ohio Department Closer to Obtaining $12 Million for Med-Mal Initiatives

Legislation that would help stabilize the market for medical malpractice insurance in Ohio passed the Ohio House of Representatives Insurance Committee, Insurance Director Ann Womer Benjamin announced. A floor vote by the full House is expected in January. The legislation …

S&P Cuts Horace Mann Educators Rating to ‘BBB’

Standard & Poor’s has lowered its counterparty credit rating on Illinois-based Horace Mann Educators Corp. to ‘BBB’ from ‘BBB+’. At the same time, Standard & Poor’s lowered its counterparty credit and financial strength ratings on Horace Mann Property and Casualty …

PIA, Ga. Surplus Lines Assoc. Host Jan. Event

The Professional Insurance Agents of Georgia and the Georgia Surplus Lines Association’s will host the Annual Legislative Open House on Wednesday, Jan. 14, 5-7 p.m. The event is free and open to all Georgia insurance industry personnel. Participants can enjoy …

Alliance Mutual Insurance Co. Licenses AGO’s System

AGO Insurance Software, Inc. (www.agois.com) announced that North Carolina-based multi-line carrier Alliance Mutual Insurance Company (www.alliancemutual.com) has licensed AGO’s All Lines Policy Processing System-WEB (ALPPSWEB). AGO is providing a complete systems replacement for Alliance utilizing most of the modules available …

Insurance Fraud Hall of Fame Welcomes Newest Members

The nation’s top convicted insurance swindlers of 2003 were elected to the Insurance Fraud Hall of Fame by the Coalition Against Insurance Fraud (www.InsuranceFraud.org). The scheme team was dishonored for insurance cons that were reportedly exceptionally large, brazen, tragic or …

AIA Says 2002 Rise in U.S. Tort Costs Reinforces Need for Civil Justice Reform

The recent release of Tillinghast – Towers Perrin’s study of 2002 U.S. tort costs finds total system costs totaling $233 billion, up 13.3 percent from 2001, further reinforcing the need for additional, significant civil justice reforms at the state and …

ACE Risk Management’s National Excess WC Unit Enters Texas Non-Subscriber Market

ACE Risk Management (ARM), a division of ACE USA, announced the launch of a new product for Texas employers who have opted not to provide workers’ compensation insurance to their employees under the state workers’ compensation system. The ACE Texas …

A.M. Best Affirms Rating for Heddington Insurance – UK- Ltd.

A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Heddington Insurance (UK) Ltd. (HUK) (London, United Kingdom). The outlook remains stable. The rating reflects the company’s status as a core subsidiary of its parent, Heddington Insurance …