Standard & Poor’s Ratings Services lowered its counterparty credit and senior debt ratings on Marsh & McLennan Cos. Inc. (MMC) to ‘BBB/A-2’ from ‘BBB+/A-2’. The ratings remain on CreditWatch with negative implications. “The rating action reflects Standard & Poor’s belief …
The Washington Department of Labor and Industries finalized an average 3.7 percent rate increase for workers’ compensation insurance in 2005. The increase takes effect Jan. 1 and will raise an additional $52 million to cover cost-of-living increases required by law …
A dozen individuals suspected of organizing or participating in staged crashes and filing false insurance claims were arrested today in Miami by insurance fraud investigators with the Department of Financial Services on insurance fraud charges. These individuals were charged under …
New York Superintendent of Insurance Gregory Serio on Tuesday announced the commencement of an immediate and broad-based review of auto insurance rates for private passenger vehicles in New York State. Insurance companies representing more than 60 percent of the auto …
Pennsylvania Insurance Commissioner Diane Koken on Tuesday announced that she has signed a Regulatory Settlement Agreement as part of a targeted, multi-state, disability income market conduct examination of UnumProvident Corp. Under the agreement, UnumProvident will be required to change its …
The holidays may be a time for giving, but thieves can twist the season into a time for the taking. November and December typically see a rise in household thefts. According to the Federal Bureau of Investigation, more than 242,000 …
Franklin Circuit Court (Kentucky) Judge William Graham ruled recently that the assessment of AIK Comp members will go forward as planned. The ruling was in response to a motion filed on behalf of a group of AIK Comp members seeking …
West Virginia’s Workers’ Compensation Commission recently filed injunctions against three state employers whose accounts with the Commission are reportedly in default. Injunctions were filed in Kanawha County Circuit Court against the following: • Billy G. Ellis Inc., owner of a …
Arkansas Attorney General Mike Beebe announced recently that the Arkansas Crime Victims Reparations Board awarded $280,986 in reparations to 196 crime victims during October, 2004. Additional expenses were paid in 164 previously submitted cases. Created by the 76th General Assembly …
As the 2004 hurricane season concludes next week, residents of four Louisiana communities will reportedly pay less for flood insurance and enjoy greater flood protection, thanks to recent efforts by local officials. Effective Oct. 1, flood insurance policy holders in …