Warren Buffett’s Berkshire Hathaway was stripped of its ‘AAA’ credit rating by Fitch Ratings, barely hours after S&P cut General Electric Co’s top-tier rating, as the global financial crisis pummels America’s corporate titans. Citing concerns about Berkshire’s equity and derivatives …
A Las Vegas spine surgeon has been indicted on charges that he was part of a personal injury insurance fraud scheme. Dr. Mark Kabins was due to appear before a magistrate judge in U.S. District Court in Las Vegas on …
San Diego-based Solera Holdings Inc., a provider of software and services to the automobile insurance claims processing industry, has hired Dudley W. Mendenhall to become its chief financial officer, effective on or about March 30, 2009. Since August 2007, Mendenhall …
The general liability line of insurance has produced industry-wide combined ratios below 100 percent for the past two years, but this profitable underwriting performance is unlikely to continue, analysts report. General liability losses and expenses are expected to increase faster …
Standard & Poor’s Ratings Services has said that a management consolidation plan between Sompo Japan Insurance Inc. (AA-/Stable/–) and NIPPONKOA Insurance Co. Ltd. (A+/Stable/–) could impact its ratings on the non-life insurers, depending on a rating review to be conducted …
The chairman of the Texas Committee on Insurance Fraud says telemarketers continue to harass the victims of auto accidents whether they have been injured or not. The group is endorsing a bill being introduced in the Texas House of Representatives …
After years of legal wrangling, 75 white firefighters will share a $6 million settlement reached with the city of Chicago in a reverse discrimination lawsuit filed over a 1986 lieutenants’ exam. Concerned the exam discriminated against black firefighters, the city …
A semi truck smashed into a school bus that was slowing to drop off students on Mar. 10 afternoon, injuring six young people, two seriously, the Oklahoma Highway Patrol said. The accident happened on Oklahoma 70 near Bokchito, 15 miles …
Long Island police say a toddler drove a car into a building. Police say the Coram boy’s parents had pulled into a parking spot in front of an office building in Medford Tuesday night. Police say the boy’s mother, 23-year-old …
A Williston man has been sentenced to nearly six years in prison for embezzling millions of dollars from a captive insurance manager where he was a senior vice president. Federal prosecutors say Kenneth MacKay, 37, admitted that he came up …