Representatives of insurance company fraud investigative units and others testified at a public hearing yesterday before the New York Senate Standing Committee on Insurance on the need for serious no-fault fraud reform in the state. “No-fault fraud is costing New …
Florida’s Department of Financial Services has ordered an Ocala cemetery company to stop operations after it reportedly ignored repeated department warnings regarding a financial deficit. An Emergency Order was served last week suspending the cemetery license of Lincoln Memorial Gardens, …
Analysis Group, an economic and strategy firm, announced that Keith Ugone joined its new Dallas office as a managing principal. Ugone specializes in applying economic principles to complex business disputes, including damages-related analyses in litigation matters. Previously a partner in …
Alabama-based Infinity Property and Casualty Corporation, a provider of personal automobile insurance with an emphasis on nonstandard auto insurance, reported net earnings for the fourth quarter of $19.5 million or $0.94 per share, on a fully diluted basis, compared to …
Dominique Bazy, 52, a former director of the French bank Credit Lyonnais (CL) pled guilty to one count of fraud, involving the making of false statements in the course of CL’s “behind the scenes” acquisition of the Executive Life Insurance …
Bermuda-based PartnerRe Ltd. reported net income, which includes capital gains and losses on investments, of $104.5 million, or $1.84 per share on a fully diluted basis, for the quarter ended December 31, 2003. Net income for the fourth quarter of …
While underwriting improved, with a year-end 2003 combined ratio forecast at 101.1, the property/casualty industry has a long way to go before strong returns can be achieved, according to A.M. Best Co.’s annual Review/Preview report. According to the report, recent …
A recent national survey by Mayfield Village, Ohio-based vehicle insurer Progressive, found that new car owners know much more about the features of their vehicle than they do about the insurance that protects it, themselves and others. The company found …
Ohio Department of Insurance Director Ann Womer Benjamin recently announced that Cincinnati Life Insurance Company has agreed to a multi-state settlement with the Department concerning alleged past discriminatory underwriting practices against approximately 8,000 African-American policyholders from 1947 to 1968 by …
A New York Senate bill that would increase damages in wrongful death cases would reportedly be a radical departure from current law and could have profound implications in the state. “By expanding recoverable damages and inflating damage awards, S.B. 2994 …