Gov. Jeb Bush and members of the Florida Cabinet have approved an emergency rule extending the moratorium to Dec. 31 and banning insurance companies from canceling or non-renewing insurance policies for victims whose homes have yet to be repaired. Tom …
Maryland Attorney General J. Joseph Curran Jr., announced the filing of criminal insurance fraud charges against Hugh O. Whitaker, 34, of Severn, Maryland. The indictment follows a joint investigation conducted by the Insurance Fraud Division of the Maryland Insurance Administration …
A Rochester, New York electrical contactor’s reported failure to supply cave-in protection for employees working in a six-foot, eight-inch deep trench in Blasdell has resulted in $67,000 in fines from the U.S. Labor Department’s Occupational Safety and Health Administration (OSHA). …
U.S.I. Holdings Corporation (Nasdaq: USIH) of Briarcliff Manor, N.Y. has acquired Nashville, Tenn.-based Benefit Partners of America. The acquisition is expected to contribute approximately $4 million of revenues to USI on an annual basis. Terms of the transaction were not …
Swiss Re’s recently issued report on the 2004 hurricane season stresses that, although the number of storms may have been extraordinary, “the impact on insurers has been controllable through a process of event-based risk analysis.” The Report “The 2004 hurricane …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Korean Reinsurance Company with a stable outlook. “The rating reflects the company’s continuous growth in absolute capitalization since fiscal year 1997, its excellent operating …
Deciding an issue never settled before in South Dakota, the state Supreme Court said Thursday that secondary, umbrella insurance does not kick in until another insurer’s primary coverage has paid its full limit. The unanimous ruling came in a case …
There has been a 415 percent increase in the average severity of long-term care professional and liability claims since 1996, according to a study released by Chicago-based commercial insurer CNA‘s LTC unit, HealthPro. In 1996, ultimate average severity of LTC …
A Lake Charles, Louisiana insurance producer was issued a cease and desist order and a summary suspension of his insurance license for allegedly engaging in fraudulent and dishonest insurance practices, Insurance Commissioner Robert Wooley has announced. Department of Insurance Fraud …
Vimlesh Ahmad, 58, of Seattle, pleaded guilty recently in U.S. District Court in Seattle to one count of Health Care Fraud. Ahmad reportedly admitted she filed false and fraudulent claims with Medicare, Medicaid, the Washington State Industrial Insurance Program (Labor …