Texas Mutual Insurance Company reported that Enrique Rodriguez of Houston has pleaded guilty to workers’ compensation fraud-related charges. The 390th District Court of Travis County sentenced Rodriguez to two years deferred probation and 100 hours of community service. The court …
A judge in Baton Rouge, La. awarded the owner of a failed insurance company more than $1.2 million from the state, years after two former consultants pleaded guilty to illegally handling the company’s assets. The Associated Press reported that State …
Thousands of homes in the U.K. could lose their flood insurance if the government enacts budget cuts in the area of flood prevention, the Association of British Insurers has warned. The Financial Times reported that insurers are threatening to withdraw …
A former employee of Ohio-based Western and Southern Life Insurance Co. and her roommate are accused of stealing about $430,000 from the company in two months by writing and cashing company checks made out to phony vendors, authorities said. The …
On behalf of its 98 member companies domiciled in Ohio, the National Association of Mutual Insurance Cos. (NAMIC) commended Ohio Gov. Bob Taft for signing HB 301 into law. The bill addresses concerns regarding the ability of a mutual insurance …
The Oregon State Accident Insurance Fund Corp. has nearly halved its work force in the past eight years, and spends less on advertising than competitors, according to its Board of Directors. The SAIF Board outlines those claims, and several others, …
Oklahoma Insurance Commissioner Carroll Fisher announced that officials with Physicians Liability Insurance Co. (PLICO) and Hospital Casualty Co. have signed agreements placing the two companies under formal supervision by the Oklahoma Insurance Department. The move comes after months of on-site …
Standard & Poor’s Ratings Services announced the affirmation of its “AA” counterparty credit and financial strength ratings on Houston Casualty Co., Avemco Insurance Co. (Avemco), U.S. Specialty Insurance Co., HCC Specialty Insurance Co. (HCC Specialty) and HCC Life Insurance Co. …
Webster Financial Corporation (NYSE: WBS) announced that its principal subsidiary, Webster Bank, has completed its conversion from a federal savings bank to a national bank charter, regulated by the Office of the Comptroller of the Currency (OCC). In addition, Webster …
The use of arbitration by property/casualty insurance companies and self-insureds to resolve inter-company claims disputes increased by nearly 8 percent in 2003, with the number of arbitration filings increasing to more than 434,000, according to Tampa, Fla.-based Arbitration Forums Inc. …