A.M. Best Co. announced that it has withdrawn the Best’s Syndicate Rating of “A-” (Excellent) of Lloyd’s Syndicate 1400, which is managed by Danish Re Syndicates Ltd., and assigned it an NR-4 (Company Request) rating. Trident II, L.P., a $1.4 …
Insurance Journal has discovered that there is an ongoing investigation into Torrance, Calif.-based Manning Riddell Insurance Services Inc. (License #0827722) in connection with the issuance of more than 1,000 phony Errors & Omissions policies for life insurance agents in some …
New Jersey Attorney General Peter Harvey announced that a Camden County man previously convicted and sentenced to 10 years in state prison for stealing more than $140,000 in 9/11 survivor benefits has admitted committing thousands of dollars in additional frauds, …
Directors and officers (D&O) liability insurance premiums grew approximately 33 percent on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin’s 2003 Directors & Officers Liability Survey. While employee lawsuits were significant for all types of …
Efforts to enact legislation reportedly restricting the ability of insurers to operate in a competitive fashion in the Maine homeowners insurance market are being met with concern by the Property Casualty Insurers Association of America. “We were dismayed to learn …
An Orlando clinic owner, his wife and office manager were arrested last week in an ongoing investigation of a Miami-based “paper” auto accident ring that so far has resulted in 46 arrests. Investigators with the Department of Financial Services, Division …
Peoria, Ill.-based insurer RLI Corp. reported fourth-quarter net earnings of 62 cents per diluted share (or $16.1 million), a 15 percent per-share improvement over the 54 cents per diluted share (or $11.2 million) reported for the same period in 2002. …
The legal defense of Michael Segal, the former owner of Chicago-based Near North Insurance Brokerage Inc., was dealt a major blow by a federal judge presiding over Segal’s trial on charges of embezzling more than $20 million from his company’s …
With the start of the New Year and the beginning of a new session of Congress only a few weeks away, the Independent Insurance Agents and Brokers of America (IIABA) is rolling out its legislative agenda for 2004. Top issues …
The National Association of Mutual Insurance Companies (NAMIC) recently released a report detailing state legislative efforts to reform the U.S. civil justice system. According to NAMIC, “Tort Reform: An Overview of State Legislative Efforts to Improve the Legal System,” is …