A $500 reward has been handed over to a man who called the Texas State Fire Marshal’s Office Arson Hotline to report a case of arson. According to the Insurance Council of Texas, the phone call led to the arrest …
Elliott Flood, vice president of special investigations for Texas Mutual Insurance Company, addressed the Texas Committee on Insurance Fraud (TCIF) recently. Flood discussed workers’ compensation fraud, one of several types of insurance fraud covered at the meeting. “Of course, we …
Halliburton announced that the Honorable Judith K. Fitzgerald issued a ruling holding that insurers lack standing to bring motions seeking to dismiss the prepackaged reorganization cases filed by DII Industries, Kellogg Brown & Root (KBR) and various other subsidiaries of …
The Property Casualty Insurers Association of America noted that members of the Pennsylvania Senate’s Judiciary Committee passed two bills on Tuesday that will allow the full Senate to debate reforms to the state’s medical liability system. The PCI called the …
Transatlantic Holdings, Inc. reported that its net income for 2003 increased 79.3 percent to $303.6 million, or $5.75 per common share (diluted), compared to $169.3 million, or $3.21 per common share (diluted), in 2002. Net income for the fourth quarter …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Germany’s Allianz Aktiengesellschaft and its core subsidiaries. It has also affirmed the “aa-” ratings on Allianz’ senior debt issued by Allianz Finance B.V. and …
Virginia-based Hilb Rogal & Hobbs Company reported financial results for the fourth quarter and year ended Dec. 31, 2003. For the fourth quarter, total revenues were $142.7 million, compared with $128.7 million a year ago, an increase of 10.9 percent. …
New Jersey Attorney General Peter Harvey announced that the co-owner of a Passaic County transportation company has been sentenced to state prison for submitting more than $82,000 in fraudulent and inflated billings to the Medicaid program. The Medicaid Program, funded …
Auto insurance rates for Michigan policyholders rose slower than the national average in 2003, according to the Insurance Institute of Michigan (IIM). Michigan’s auto insurance rates increased an average of 7 percent last year, below the expected national average of …
Jeffrey Fuller, executive vice president and general counsel for the Association of California Insurance Companies, released the following statement in regarding workers’ compensation reform: In 2003, the legislature took a major step in reforming California’s broken workers’ compensation system by …