Alabama-based Vesta Insurance Group Inc. reported results for its fourth quarter and full year ended Dec. 31, 2003 that included a $118.8 million charge – $28.9 million cash and $89.9 million non-cash – to write-off recoverables associated with a reinsurance …
RTW, Inc., a provider of products and services to cost-effectively manage workers’ compensation programs for customers, has been awarded a three-year contract with the Minnesota Assigned Risk Plan (Plan). Under the terms of the contract, RTW will provide policy issuance …
Assurant Inc., a provider of specialized insurance and insurance-related products and services, reported its results for the year and fourth quarter ended Dec. 31, 2003. J. Kerry Clayton, president and CEO, said, “We are pleased with our operating performance. Our …
With both agents and residents flocking to Florida, the Sunshine State is on the move. Florida Chief Financial Officer Tom Gallagher, who oversees insurance matters in the state, recently set aside time to talk with Insurance Journal Southeast regarding some …
American Medical Security Group Inc. (AMS) and plaintiffs’ representatives have reportedly reached an agreement of understanding to certify and settle a class-action lawsuit, Gadson v. AMS, pending in the Circuit Court of Montgomery County, Alabama. The agreement between AMS and …
The Independent Insurance Agents & Brokers of New York has issued a bulletin reminding its member agencies and brokerages to keep in mind that the National Flood Insurance Program (NFIP) requires a waiting period before a flood policy is issued. …
The Minnesota Supreme Court recently upheld an appellate court decision in applying the New Jersey Consumer Fraud Act on a nationwide basis by virtue of the certification of a nationwide class. “While the Supreme Court’s decision is disappointing, it appears …
Standard & Poor’s has affirmed its ‘BBB’ counterparty credit and financial strength ratings on Michigan-based Professionals Direct Insurance Co. (PDIC) and removed them from CreditWatch. The outlook is negative. The ratings had been placed on CreditWatch on Jan. 22, 2004, …
In responding to information released by the Workers’ Compensation Insurance Rating Bureau of California is being mischaracterized as a $7 billion mistake, the following is a statement by Sam Sorich, president of the Association of California Insurance Companies (ACIC). Sorich …
IntelliClaim announced a multi-year agreement with the Kaiser Foundation Hospitals for the use of IntelliClaim’s Enhanced Claim Editing service in Kaiser and Permanente entities outside California. IntelliClaim’s technology enabled services reportedly help health plans improve the effectiveness, efficiency and accuracy …