New York’s Superintendent of Insurance Gregory V. Serio joined New York City Police Commissioner Raymond W. Kelly and Queens District Attorney Richard A. Brown in announcing multiple indictments charging a group of lawyers, medical doctors and other state-licensed medical professionals …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Toronto-based Lawyers’ Professional Indemnity Company (LAWPRO), which is wholly-owned by the Law Society of Upper Canada, the governing body of Ontario lawyers. The rating …
Nine Alabama fire departments were unable to save the Lillian Community Center, which was destroyed in a fire early last Wednesday morning. Acting State Fire Marshal Richard Montgomery said his office had been requested to assist local officials in the …
A Georgia House bill requiring captive insurance companies that write workers’ compensation coverage to be covered under state guaranty fund laws will reportedly do nothing to identify or correct their financial difficulties, but instead will unfairly shift their claims paying …
Calling for more rigorous protection of seniors against financial fraud scams, State Insurance Commissioner John Garamendi said that a San Diego man convicted of defrauding 191 seniors of $13 million should face the maximum punishment for his crime. Carmen John …
The Construction Employers Association’s annual membership meeting this week reportedly included warnings about the future of public works projects affected by pending state and local budget cuts and a renewed sense of security based on a new four-year agreement between …
U.S. property/casualty insurers paid $12.8 billion to homeowners and businesses for insured property losses from 21 catastrophic events last year, according to current estimates by Insurance Services Office, Inc.’s (ISO) Property Claim Services (PCS) unit. Policyholders filed more than 2.6 …
Pennsylvania Acting Attorney General Jerry Pappert announced that his Medicaid Fraud Control Section has secured $1,279,762 for the Pennsylvania Medicaid Program as part of a $414 million nationwide settlement with medical products manufacturer Abbott Laboratories of Abbott Park, Illinois. Pappert …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Macau Insurance Company Limited and its subsidiary, Macau Life Insurance Company Limited, with a stable outlook. “The rating reflects the company’s strong capitalization, continuous …
Both A.M. Best and Standard & Poor’s Ratings Services reacted to XL Capital Group’s announcement yesterday that its aggregate reserve additions in 2003 would be around $908 million pretax ($694 million in the fourth quarter). (See IJ Web site Jan.13) …