An insurance company disciplined by state regulators for its handling of claims after Hurricane Rita could face up to $300,000 in fines after the release of an audit by the Texas Department of Insurance. Earlier this year, TDI found that …
State investigators have completed investigations of two fatal coal mining accidents in West Virginia. The state Board of Coal Mine Health and Safety is scheduled to be briefed July 15 on the electrocution of a miner at Massey Energy’s Aracoma …
A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-“to White Mountain Insurance Co. of Burlington, Vermont. The outlook assigned to both ratings is stable. A.M. Best said the ratings reflect …
A.M. Best Co. has downgraded the issuer credit ratings to “bb-” from “bb” of Kingsway Financial Services Inc. of Ontario and Kingsway America Inc. in Illinois. Concurrently, A.M. Best has downgraded the financial strength ratings to B+ (Good) from B++ …
U.S. organizations lose an estimated seven percent of their annual revenues to fraud by accountants, managers and other employees, according to a survey of fraud examiners who investigated cases between January 2006 and February 2008. The median loss caused by …
New Hampshire officials announced changes in licensing fees for insurance producers and adjusters that include a single $210 application and license fee for initial producer licensing replacing what used to be two separate fees. The producer licensing renewal fee remains …
New Jersey police say a ride operator is on life support after he was hit by a roller coaster on the Seaside Heights boardwalk. It happened Sunday night at the Star Jet coaster on Casino Pier. Police Chief Thomas Boyd …
Boston’s fire commissioner is urging the city’s retirement board to deny the disability claim of a firefighter who competed in a bodybuilding contest even though he claims he can’t work because of a back injury. The Boston Globe reports that …
The Rhode Island Supreme Court has upheld a lower court’s decision by refusing to hold a Manville couple liable for the injuries a woman and her boyfriend suffered in a car crash after drinking at the couple’s home. Brianna Mari …
Battered by critics who blame them for helping to foment the U.S. subprime mortgage meltdown, credit raters are now trying to fend off lawsuits — including fraud claims brought by their own shareholders. Many financial companies, including banks and lenders, …