East Lansing, Mich.-based medical liability insurer American Physicians Capital Inc. announced net income of $102,000, or 1 cent per share for the fourth quarter of 2003. For the year, the company reported a net loss of $76.8 million, or $9.02 …
Arizona-based JAS Advanced Strategies’ JAS Claims Management/Investigations and JAS Risk Surveys & Auditing is celebrating 20 years of service. Among the company’s clients: Field claim investigations/settlements – Firm has heavy experience in handling; property losses (major fires), long haul/local trucking …
Frozen pipes may not sound like a major problem for property owners, but Travelers Property Casualty Corp. has reportedly received so many claims from winter weather damage that 36 members of its catastrophe response team have been deployed throughout the …
Four grand jury indictments unsealed by the Oklahoma County District Court on Feb. 17 accuse Oklahoma Insurance Commissioner Carroll Fisher mishandling continuing education funds and operating his charity illegally, according to The Oklahoman. Opal Ellis, his special assistant, reportedly has …
Harleysville Group Inc. reported a diluted net loss of $0.66 per share in the fourth quarter of 2003, reflecting the previously announced loss reserve increases in several business lines for prior accident years (See IJ Web site Feb. 12). The …
A.M. Best Co. issued a brief comment on the earnings announcement from the Swiss-based Converium Group (See IJ Web site Feb.17), indicating that the “consolidated 2003 year-end financial performance of Converium Group falls within expectations.” Best added that “The financial …
Bermuda-based Arch Capital Group Ltd. reported that its net income for the 2003 fourth quarter was $83.7 million, or $1.22 per share, compared to $43.5 million, or $0.65 per share, for the 2002 fourth quarter. Net income for the year …
Attorney General Brian Sandoval announced that Tye Fortuna, 31 of Big Fork, Montana was sentenced recently by Judge Michael R. Griffin in the Carson City District Courthouse after pleading guilty to felony insurance fraud. Tye Fortuna previously was a Carson …
Insurance Journal was recently contacted by a former employee of Manning Riddell Insurance Services Inc., the Torrance-based risk purchasing group reportedly under investigation by the California Department of Insurance for allegedly issuing hundreds of bogus errors & omissions policies to …
The WCIRB has compiled a summary of insurer reports of loss and premium experience valued as of September 30, 2003. The report shows that statewide insurer written premium for the first three quarters of 2003, prior to adjustment for reinsurance …