Newly released information ranks all four of this season’s hurricanes among the top 10 costliest U.S. hurricanes in the past 25 years. And, taken together, the cost of this season’s storms edges out the cost of Andrew by about $100 …
Standard & Poor’s Ratings Services announced that it has revised its outlook on White Mountains Insurance Group Ltd. (WTM), Fund American Cos. Inc., Folksamerica Reinsurance Co. and Sirius International Insurance Corp. to positive from stable. S&P also affirmed its “BBB”‘ …
Subsidies to 30,000 doctors and health care providers who pay into a state-run program that provides catastrophic medical malpractice insurance would be extended for one more year under a bill passed unanimously by Pennsylvania’s legislature. The bill, which passed 47-0 …
Oklahoma’s State Board for Property and Casualty Rates announced its approval of NCCI’s Item B-1393—Miscellaneous Values for Domestic Terrorism, Earthquakes, and Catastrophic Industrial Accidents. The purpose of this item is to produce catastrophe provisions, by state, to address losses resulting …
A Bullhead City, Arizona pharmacist pled not guilty recently in Mohave County Superior Court to charges of fraud for allegedly diverting prescription drugs and fraudulently billing insurance companies. The State Grand Jury recently indicted Howard Jones of Bullhead City on …
A.M. Best Co. has downgraded the financial strength rating to B+ (Very Good) from B++ (Very Good) of Nationwide Indemnity Company (Nationwide Indemnity) (Columbus, Ohio). The rating has been placed under review with negative implications due to the significant decline …
Fitch Ratings is actively monitoring the developments surrounding Universal Life Resources Inc. (ULR), a San Diego-based group insurance broker that is currently under investigation by New York Attorney General Elliot Spitzer and various state insurance regulators for illegal business practices …
Six residents in Peeks Creek, N.C. where four people died in a Hurricane Ivan-triggered landslide have hired lawyers to represent them after being denied insurance claims. Fifteen houses were damaged or destroyed in Peeks Creek the night of Sept. 16, …
Auto theft in the U.S. increased for the fourth consecutive year in 2003, climbing 1.1 percent from 2002, according to the Federal Bureau of Investigation’s annual Uniform Crime Report. In 2003, General Motors’ OnStar reportedly continued to prove itself as …
Charges of murder and of sexual battery have been filed in the Nov. 12 slaying of a Florida insurance adjuster who went to inspect a hurricane-damaged rental home. According to the Miami Herald, Jason M. Funk, 27, the home’s tenant, …