insurance News

FBD Insurance Employs New Claims Management Software

FBD, a property casualty insurance company in Ireland, recently implemented the use of the FINEOS claims management system. The company writes business directly over the web through www.FBD.ie and via the ‘No Nonsense’ internet brand, by telephone and through a …

$1.1 Million Judgment in Massachusetts Chiropractor Fraud Case

The Suffolk Superior Court in Boston, Mass., has entered civil judgments against two brothers, former chiropractors, Alan and Marc Cohen, ordering them to pay $1,155,129 in damages to Encompass Insurance. Encompass is one of four insurers that filed a lawsuit …

Panel OKs Rule for Influx of 2005 Florida Storm Claims

A panel chaired by Gov. Rick Scott has agreed to file an emergency rule giving the Florida Hurricane Catastrophe Fund more time to respond to an influx of claims from 2005 storms. The filing approved Tuesday would let the State …

Australia Flood, Cyclone Claims Assessments near Completion Says ICA

According to a bulletin on its web site, the Insurance Council of Australia has released updated figures on “how the general industry has responded to the enormous task of assessing over 118,000 insurance claims received as a result of the …

US Businesses Reluctant to Open in Mexico

Dozens of Mattel Inc. employees were on their way to another day of work making Power Wheels in Mexico’s industrial heartland when gunshots erupted around them and a grenade ripped into one of their buses, killing one worker and wounding …

Industry Leaders to Speak at MarketScout’s Entrepreneurial Insurance Symposium

Burns and Wilcox, Chartis, Hub, Lloyds of London, Navigators, Pure, QBE and Tower to share Innovations Dallas, TX – May 16, 2011 – The Entrepreneurial Insurance Symposium On September 12-14, 2011, MarketScout will host its fifth annual Entrepreneurial Insurance Symposium …

EQECAT Estimates Spain Quake Insured Losses at $100 Million Maximum

Catastrophe modeling firm EQECAT has released a “CatWatch update” on the market loss estimate for the May 11 earthquake near Lorca, Spain, which indicates that, based on the latest information available, insured losses are not expected to exceed $100 million. …

Oklahoma Woman Ordered to Repay Insurer $250,000

A federal judge has sentenced a Jones woman to 30 months in prison for embezzling $1.5 million from an Oklahoma City electric company where she worked as a bookkeeper. U.S. District Judge David Russell also on Tuesday ordered 50-year-old Lora …

Kansas Athletics Gets Insurance from Ticket Scandal

Kansas Athletics Inc. has recovered nearly $340,000 from an insurance company for losses in a ticket scheme that cost the department at least $2 million. The Lawrence Journal-World reported Wednesday that part of those funds was $250,000 in March from …

Arizona Contractor Ordered to Stop Acting as an Adjuster Without a License

Arizona building contractor, True-Built Construction, LLC owned by Weston Farnes, was given a cease and desist order to stop acting as an insurance adjuster without a license, according to the Arizona Department of Insurance (ADOI). Authorities reported that Farnes had …