New York Attorney General Eliot Spitzer announced that a Pennsylvania nursing home owner has been sentenced to four to 12 years in prison for stealing millions of dollars from New York taxpayers by fraudulently billing for services never provided to …
France’s SCOR Group posted a net loss of 314 million euros ($384 million) for 2003, a distinct improvement over the 455 million euros ($556 million) loss the group reported in 2002. In addition the company reported net income of 45 …
Standard & Poor’s Ratings Services announced that it has raised its counterparty credit and insurer financial strength ratings on AXA’s Irish subsidiary, AXA Insurance Ltd. (AXA Ireland) to ‘BBB+’ from ‘BBB’ with a stable outlook. “The upgrade reflects AXA Ireland’s …
The National Glass Association announced that the Minnesota Glass Association and the Minnesota Independent Insurance Agents and Brokers Association (MIIAB) have agreed to set up a jointly operated auto glass claims processing network for members of the two groups. The …
Doctors believe that frivolous lawsuits are increasing the cost of healthcare and West Virginia patients are paying the price, according to a survey released (See National News) by the American Tort Reform Association (ATRA) and SickofLawsuits.org. The study, which polled …
Insurex Inc. and Frontier General announced the release of a new workers’ compensation product in California with ACE Casualty Risk, a division of ACE USA. The new product launched is called ACE Complete and is marketed through Insurex and Frontier …
A.M. Best Co. has downgraded the financial strength rating to B+ (Very Good) from A- (Excellent) of Providence Washington Insurance Companies (Providence, R.I.) and placed the rating under review with negative implications. The rating applies to the four inter-company pool …
Caliber Collision Centers, an operator of collision repair facilities in California and Texas, has named Vincent Claudio its vice president of client services. Claudio brings more than 18 years of collision repair and insurance industry experience to Caliber, with his …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Nationwide Mutual Insurance Co. (NMIC) and its affiliates (collectively referred to as Nationwide) to stable from negative. S&P also affirmed its ‘A+’ counterparty credit and financial strength …
Moody’s Investors Service announced that is has lowered the debt ratings of Travelers Property Casualty Corp., and those of its subsidiary Travelers Insurance Group Holdings Inc., by one notch. Senior debt was lowered to “A3” from “A2” and junior subordinated …