North Carolina Insurance Commissioner Jim Long recently set aside some time to talk with Insurance Journal Southeast regarding some of the issues impacting the state. A native of Burlington, N.C., Long was first elected to his current statewide post in …
Legislation initiated by the Department of Insurance to help stabilize the Ohio medical malpractice market unanimously passed the Ohio Senate this week and will likely be signed by Governor Taft in March, Insurance Director Ann Womer Benjamin announced. House Bill …
The Minnesota Supreme Court has approved a Norman County (Minn.) jury award and judgment of $56 million against New Jersey-based BASF Corp. for reportedly defrauding United States’ farmers in the sale of a herbicide in a national class action suit. …
Fitch Ratings has affirmed the ‘A-‘ insurer financial strength ratings of Zenith National Insurance Corp.’s (Zenith National) three insurance subsidiaries, Zenith Insurance Company (Zenith Insurance), ZNAT Insurance Company and Zenith Star Insurance Company. Fitch has also affirmed Zenith National’s long-term …
The Injured Workers Insurance Fund (IWIF), Maryland’s largest workers’ compensation writer, noted that Terry Hedges of Baldwin, Md. was found guilty of insurance fraud against IWIF and was sentenced to one year in Baltimore County Detention Center with all but …
Jean Peyrelevade, the former CEO of French bank Credit Lyonnais, has appealed the sanctions leveled against him by the U.S. Federal Reserve Bank as a result of his criminal indictment in the Executive Life case. Federal prosecutors in Los Angeles …
Zurich Financial Services (ZFS) has rebounded strongly. After its disastrous $3.4 billion loss in 2002, the company reported net earnings of $2.1 billion for 2003, a return on equity of 12.5 percent. Other highlights cited by the company’s news bulletin …
California State Controller Steve Westly announced the Controller’s Office collected $67 million in unclaimed insurance company stock and cash proceeds belonging to countless Californians. Beginning immediately, Californians who held policies in the MetLife insurance companies that converted to shareholder entities …
The New Jersey Supreme Court on Thursday unanimously reversed an appellate court decision by upholding a state law that bars the right of an uninsured motorist to sue for noneconomic damages resulting from an injury from an automobile accident. “Today’s …
Houston-based HCC Insurance Holdings Inc. reported results for the fourth quarter and for the full year that ended Dec. 31, 2003. Net earnings for the fourth quarter 2003 increased significantly to $50.5 million, or $0.77 per share, compared to $31.5 …