A self-descriptive article from Standard & Poor’s Ratings Services -“Increases In Hurricane Loss Estimates To Have Little Impact On Insurer Ratings -” clarifies some questions concerning the actual and potential impact of this fall’s catastrophes on the insurance industry. S&P …
Bermuda-based IPC Holdings, Ltd. has updated, which is to say increased, the estimated impact on its 2005 results from hurricanes Katrina, Rita and Wilma. “Based upon current analysis, which has been updated using additional information provided by ceding companies, IPC …
South Carolinians are seeing a larger portion of their paychecks go to rising insurance costs, according to Trey Walker, a spokesman for the Attorney General’s Office, where the budget has been boosted to chase offenders. Walker said fraud could involve …
Farmers Insurance Group has been fined $1 million following settlement negotiations about how the company handled consumer claims. Farmers, consisting of Farmers Insurance Exchange, Fire Insurance Exchange, Mid-Century Insurance Co., and Truck Insurance Exchange, agreed to the settlement to resolve …
A former employee of a San Diego custom kitchen cabinet company was sentenced in San Diego County Superior Court on one count of workers’ compensation insurance fraud. Superior Court Judge Timothy Walsh ordered Joseph Pankey, 38, of Santee, Calif., to …
The National Response Team from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), along with ATF special agents from Tulsa, have entered the investigation of a large commercial fire that occurred early Monday at the Tulsa Athletic Club. Early …
Disaster Kleenup International Inc., a network of quality, independent property damage restoration contractors, has added to its sales team by hiring Mitch Newman as a national account director. Newman will primarily focus on national account acquisition throughout the United States. …
The Ohio Department of Insurance recently announced that years of escalating premiums for medical malpractice insurance for the state’s doctors may be ending. For the first time in six years, an insurer is lowering rates, the Ohio Department said. Medical …
New Jersey Division of Criminal Justice Director Vaughn McKoy reported that a former North Jersey chiropractor was sentenced for practicing chiropractic medicine after his license was suspended and then submitting nearly $100,000 in billings to insurance companies for medical services …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-“of Glacier Reinsurance AG (Glacier Re) (Switzerland). The outlook for both ratings remains stable. A.M. Best believes that Glacier Re is likely …