A McDowell County, West Virginia man accused of faking numerous accidents has pleaded guilty to fraud charges. Insurance Commissioner Jane L. Cline saidthat 42-year-old Aaron D. Brown of Welch entered his pleas last week in McDowell County Circuit Court. Brown …
Gov. Steve Beshear says he will ask President Barack Obama to declare a major disaster in Kentucky, which will open the state to immediate federal financial assistance in the wake of last week’s devastating ice storm. The governor said the …
A.M. Best Co. has placed the issuer credit rating (ICR) of “bbb-” of Cayman Islands-based Ironshore Inc. and the ICR of “a-” and financial strength rating of ‘A-‘ (Excellent) of its operating subsidiaries under review with negative implications. The operating …
In contrast to A.M. Best and Standard & Poor’s, Fitch Ratings has downgraded the senior debt rating of the Allstate Corporation to ‘BBB+’ from ‘A’, and the financial strength ratings of Allstate’s P/C and life insurance subsidiaries to ‘A+’ from …
The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during December. The actions include five license revocations, three license denials and fines and restitution totaling $41,082. Copies of Geeslin’s orders may be obtained …
A.M. Best Co. has commented that its ratings and outlook on Allstate Insurance Group and The Allstate Corporation (Allcorp) “remain unchanged, despite recently reported fourth quarter 2008 financial results, which included substantial realized and unrealized capital losses on Allstate’s and …
Federal officials have pressed for more safety technology on helicopter flights that are the main form of transportation to more than 5,500 oil platforms located along Texas and Louisiana shores. While progress has been made on some recommendations, little action …
A Rochester, New York man who fraudulently cashed $15,000 in workers’ compensation checks made out to his deceased mother was arrested last week and charged with grand larceny, the New York State Insurance Department said. Tyress C. Pointer, 34, was …
Take a guess — how long are the dashed lines that are painted down the middle of a road? If you’re like most people, you answered, “Two feet.” The real answer is 10 feet. That’s the federal guideline for every …
Georgia Insurance and Safety Fire Commissioner John W. Oxendine reported that the fire that gutted the Farm Commodities Peanut Warehouse in Sylvester, Ga. last week was accidental. “Our investigation was able to rule out arson, electrical problems, and weather as …