New Jersey Attorney General Peter Harvey announced that a Gloucester County man has pleaded in Superior Court guilty to charges that he submitted phony documents in order to illegally obtain insurance settlement monies. According to Vaughn McKoy, director, Division of …
Boston-based Safety Insurance Group Inc. reported fourth quarter 2003 results, with net income available to common shareholders for the fourth quarter of 2003 at $5.7 million, or $0.37 per diluted share, compared to $1.1 million, or $0.12 per diluted share, …
Los Angeles-based SCPIE Holdings Inc, a provider of healthcare liability insurance, reported results for its fourth quarter and full year ended Dec. 31, 2003. The company also announced that its Board of Directors has suspended the regular quarterly cash dividend, …
Lindsey Morden Group Inc. announced that Cunningham Lindsey U.S. Inc. has agreed to sell its third party claims administration business, consisting of RSKCo Services, Inc. (RSKCo) and Cunningham Lindsey Claims Management Inc. (CMI), to Broadspire Services Inc. (Broadspire), a Platinum …
Fitch Ratings has affirmed the ‘A’ insurer financial strength ratings of Max Re Ltd. and its Dublin-based subsidiary, Max Re Europe Ltd. Fitch has also assigned a ‘BBB’ long-term issuer rating to Max Re Capital Ltd., the Bermuda-based holding company …
Minnesota-based RTW Inc. reported that A.M. Best Co. (Best) increased the financial strength rating of American Compensation Insurance Company (ACIC), a subsidiary of RTW, Inc., to B+ (Very Good, Secure) from B (Fair, Vulnerable). Best cited improved capitalization and continued …
The Navigators Group Inc. reported net income of $7,685,000 or $0.80 per diluted share for the year ended Dec. 31, 2003 compared to $16,397,000 or $1.89 per diluted share for the year ended 2002. The net loss for the 2003 …
Federal Insurance, a subsidiary of Chubb Corp., has been ordered to assume the legal costs of Tyco International Ltd., Chairman L. Dennis Kozlowski, who’s currently on trial, along with ex-CFO Mark Swartz, in Manhattan on charges they looted the company …
The United States Chamber of Commerce Institute for Legal Reform’s annual State Liability Systems Ranking Study found a wide gap between the best and worst states in legal fairness – a difference that underscores the need for both federal and …
Representatives of the medical profession and insurance industry will participate in a panel discussion on March 11 between 8:00 a.m. – 9:30 a.m., moderated by Pennsylvania Insurance Commissioner Diane Koken, on “The Medical Malpractice Insurance Crisis.” The panel is part …