A ruling by the California Court of Appeals undermines state regulation and the authority of the insurance commissioner by essentially declaring rate filings approved by the Department of Insurance as invalid according to the Property Casualty Insurers Association of America …
New Jersey Division of Criminal Justice Director Vaughn McKoy announced that the Office of Insurance Fraud Prosecutor has charged a Union County woman with concocting a scheme that she had been called to active military service in order to continue …
New York Attorney General Eliot Spitzer announced two separate agreements that will help reform billing practices for ambulance services and provide restitution to consumers who were overcharged. In the first agreement, Vineall Ambulance Co., based in Oneida County, has agreed …
Bill Harrison Jr. of Coleman Company Insurance Services in San Antonio was elected president of the Independent Insurance Agents of Texas during the IIAT’s 107th Annual Convention in Dallas. Harrison, who succeeds Jim Berger, begins his term Sept. 1. He …
Self-insured companies are increasing their use of inter-company arbitration to reduce insurance-related costs and increase subrogation recovery and are realizing some unique benefits, according to Arbitration Forums Inc. (AF). In the first quarter of 2004, cases filed by self-insured membership …
Texas Insurance Commissioner Jose Montemayor announced that Texas-based American National Insurance Company (ANICO) has agreed to provide an estimated $3.2 million to $3.5 million in additional benefits to African-American and Hispanic consumers whose policies were affected by race-based pricing. Montemayor …
The National Association of Mutual Insurance Companies announced that the Board of Directors of the American Legislative Exchange Council (ALEC) has adopted model legislation prepared by the NAMIC. The bulletin noted that ALEC’s Civil Justice Task Force had adopted the …
The American Insurance Association has urged the National Association of Insurance Commissioners not to make any substantive changes to the Market Conduct Surveillance Model Law developed by the National Conference of Insurance Legislators (NCOIL). “The NAIC has made several modifications …
A.M. Best Co. announced that it “has affirmed GEICO’s “A++” (Superior) financial strength rating, and its “aaa” debt rating for the company’s existing debt securities. The outlook for the ratings is stable. “The ratings reflect GEICO’s superior financial strength, strong …
The Board of Directors of Atlantic Mutual announced that Daniel H. Olmsted has been promoted to President and has been named a member of the Board of Trustees. The Board also named Richard J. Hertling as Executive Vice President and …