Standard & Poor’s has assigned its ‘R’ financial strength rating to Statewide Insurance Co. (Ill.) (Statewide) after the Illinois Department of Insurance ordered the company to be liquidated on the basis of insolvency, effective Jan. 6, 2004. This rating action …
According to a physician financial consulting group, 90 days after the Oct. 16, 2003 deadline, physician practices are seeing a growing pile of unpaid claims as payers reject more bills because they lack specific data elements. Many smaller practices cannot …
Companion Property & Casualty Insurance Group announced that the National Council on Compensation Insurance (NCCI) has awarded the company one of the servicing carrier contracts for the Arkansas Workers’ Compensation Insurance Plan. Companion, which is headquartered in Columbia, S.C., said …
Travelers Property Casualty Corp. announced the availability of its new master policy to cover identity theft expenses. Financial institutions or other commercial businesses can purchase this policy on behalf of their account holders or customers, or for use as an …
Florida’s Chief Financial Officer Tom Gallagher and Don Saxon, Director of the Office of Financial Regulation, warned that investors will be challenged with increasingly complex and confusing investment frauds in 2004. New to this year’s list of Top 10 schemes …
Michigan’s Office of Financial and Insurance Services (OFIS) Commissioner Linda Watters announced that OFIS has taken enforcement action against two reported unscrupulous mortgage companies under the Mortgage Broker, Lenders, and Services Licensing Act (MBLSLA). On Dec. 12, 2003 OFIS issued …
New York Superintendent of Insurance Gregory Serio announced the arrest of Jeffrey M. Herber, a financial consultant from Rome, New York on five counts of grand larceny for cheating clients out of more than $342,000. Herber had been arrested in …
Ten years ago this week, the second largest natural disaster to hit the United States rumbled into seismic history, reminding everyone in California how unstable the earth below can be. Known as the Northridge earthquake, the 6.7 magnitude catastrophe claimed …
The United States Federal District Court for the Northern District of Texas granted Allstate Insurance Company and Sterling Autobody Centers’ request for a preliminary injunction against enforcement of several provisions of Texas House Bill 1131, saying the restrictions violate Allstate’s …
Noting that the New England region has just experienced its second freezing period in less than a week, Boston-based OneBeacon Insurance urged homeowners and commercial property owners to take immediate steps to protect their buildings against water damage caused by …