Organizers of a collector-car auction in north Scottsdale, Ariz., worked to assess damages this past weekend, after an 800-foot-long tent blew onto a nearby freeway, snarling traffic and leaving hundreds of valuable vehicles uncovered in a pounding rainstorm. Heavy tent …
Jordan Hendrickson, 25, of San Jose, Calif., has been arrested and booked into the Santa Clara County Jail on suspicion of felony auto insurance fraud, the California Department of Insurance reported. Her boyfriend, Ryan Morton, 25, of Santa Clara, appeared …
A 63-year-old former bookkeeper at a Dalton, Georgia insurance brokerage is facing federal charges she embezzled more than $1 million from her employer. Prosecutors say Carolyn Lynn Cherry of Chatsworth forged her supervisor’s signature on company checks from 2003 to …
The U.S. Department of Agriculture has designated five counties in Tennessee as primary natural disaster areas due to heavy rainfall that began last Sept. 1 and continues. They are Claiborne, Cocke, Rutherford, Sevier and Union. Farmers and ranchers in 16 …
NEW YORK – Andrew J. Lorin, a noted figure in regulating and investigating New York’s insurance industry since 2004, is joining Drinker Biddle & Reath LLP as a partner in the firm’s insurance practice. Lorin, who will be based in …
The federal government is opposing a man’s request to take the deposition of Treasury Secretary Timothy Geithner in a lawsuit that challenges the bailout of American International Group Inc. A lawsuit was filed in 2008 on religious grounds, claiming the …
Standard & Poor’s Ratings Services announced that its ratings on “U.S.-based Assurant Inc. (BBB/Negative/A-2) and related entities are not affected by the settlement of an SEC investigation regarding certain loss-mitigation insurance products. The reinsurance contract under examination had $2.6 million …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICR) to “a+” from “a-” of PARIS RE and its affiliates. Consequently Best has removed the ratings from under …
Validus Holdings announced that it has priced a registered offering of $250 million aggregate principal amount of 8.875 percent Senior Notes due 2040. They are to be sold to the public at a “price of 98.71 percent of principal.” The …
Climate change will likely increase the frequency and severity of storm activity in Texas, an area of the country that is especially vulnerable to the “triple threat” of hurricanes, hail storms and tornadoes, weather researchers said at a conference at …