Archive for September, 2009
Investigated Company Forgoes $70 Million of Claims
A Southern California medical management company accused of fraudulent workers' compensation-related billing has dismissed $70 million worth of filed claims, the largest workers' compensation mass …
Independent Insurance Agencies’ Overall Growth Down But Personal Lines Up
The bad news is that overall organic growth for independent insurance agencies is down. The good news is that there continues to be growth in two areas: personal lines and group product …
Independent Insurance Agencies’ Overall Growth Down But Personal Lines Up
The bad news is that overall organic growth for independent insurance agencies is down. The good news is that there continues to be growth in two areas: personal lines and group product …
ClearSide Opens for Automobile Business in California
A new company named ClearSide General has opened in California, specializing in personal lines automobile coverage.
ClearSide Opens for Automobile Business in California
A new company named ClearSide General has opened in California, specializing in personal lines automobile coverage. The new company was started with the aim of servicing “the needs of the …
Court: Negligence Not Transferred to Illinois Woman Murdered by Husband
The Illinois Supreme Court has sided with health care providers who treated a mentally ill man who subsequently murdered his wife.
West Virginia Workers’ Comp Insurer BrickStreet Free of Debt to State
BrickStreet Mutual Insurance has remitted its final payment to West Virginia for funds it owes the state for aiding its transition from a state-run organization to a private carrier in …
Delaware Court Changes Underinsured Limits in Case of Hurt Motorcyclist
A Delaware Superior Court has ruled that John Henry Smith Insurance Co.
Ironshore Expands U.S. Distribution Network
Ironshore Inc.
Utah Firm Hires Ogden Associate
The Buckner Company has hired J.
California Settles Life Insurer Violations Case
California State Insurance Commissioner Steve Poizner announced today that the Department of Insurance has reached a $600,000 settlement agreement with Life Insurance Company of North America …
Tully Joins Lassiter Ware Insurance in Florida
Mike Tully has joined the team of Lassiter Ware Insurance in the Maitland, Fla., office as a commercial insurance consultant, specializing in technology, medical/life sciences and …
P/C Insurers’ Technology Spending Up 1.6%
Planned information technology (IT) spending by property/casualty insurance companies increased 1.6 percent from 2008 to 2009, according to researchers. The planned increase in spending from …
Insurers Back Away from Washington Flood Area
Insurance brokers say private companies won't sell flood insurance in Kent, Renton, Auburn and Tukwila where the Corps of Engineers says Green River flooding is likely this winter.
California Wildfire Victims Want Probe
People affected by the massive wildfire that burned about 250 square miles northeast of Los Angeles are calling for a federal investigation into what they say was a poor initial response to the …
Grand Forks, N.D., Flood Insurance Map Now Available
Grand Forks County, N.D., residents are getting a look at a proposed new flood insurance rate map. Zoning administrator Bev Collings says it's the first major change in the map since 1977. She …
Texas Apartment Association Program Earns $395K Comp Dividend
The Texas Apartment Association Workers' Compensation Program has earned a 14 percent, or $395,000, dividend from Texas Mutual Insurance Company. Program administrators Michael Whorton and …
West Virginia Accustomed to Being Leader in Deer Collisions
In West Virginia, where there's roughly one deer for every two people and the largest city boasts an annual deer hunt within its boundaries, it's no surprise the animals pose a common hazard for …
Judge Allows Class-Action Overtime Suit against Erie Indemnity Co.
A federal judge in Pennsylvania is allowing a class-action claim against an insurance company accused of failing to pay overtime to claims adjusters that worked at a Pittsburgh-area …
Insurance Industry to Create National Database to Combat Cargo Crime
By networking existing databases and adding secure reporting and analytic functions, two insurance industry organization hope to create a nationwide information sharing system on cargo …
Insurance Industry to Create National Database to Combat Cargo Crime
By networking existing databases and adding secure reporting and analytic functions, two insurance industry organization hope to create a nationwide information sharing system on cargo …
Bank of America’s McGee Named New CEO by The Hartford
Hartford Financial Services Group Inc.
Sears to Pay Record $6.2 Million to Settle Employment Bias Case
Sears Holdings Corp. agreed to pay a record $6.2 million to settle a lawsuit by the U.S.
Former Moody’s Executives Criticize Firm’s Credit Rating Process
The former head of compliance overseeing Moody's Corp.'s credit ratings business was routinely ignored when he warned that the firm was not properly monitoring municipal bond ratings, according to …
U.S. Senate Panel Rejects Public Healthcare Option; More Votes Ahead
A U.S. Senate panel Tuesday rejected a government-run “public” insurance option as part of a broad healthcare overhaul, handing insurers an early victory and setting the stage for a long fight …
Willis Acquires 100% of Argentina Business
Willis Group Holdings has completed the purchase of 100 percent of the share capital of Herzfeld Willis S.A.
US May Target Insurers, Gasoline Imports in Iran Sanctions Strategy
The White House is weighing sanctions targeting Iran's dependence on gasoline imports and insurance firms that underwrite the trade, even as U.S. officials focus for now on diplomatic efforts to …
Torus Opens New Managing General Agency in Bermuda
Torus, a global specialty insurer, has established Torus (Bermuda) Services Ltd. as a Managing General Agent (MGA) in Bermuda for Torus Insurance (UK) Limited, to “provide enhanced service to its …
Deadly South Pacific Tsunami Kills at Least 100 People after 8.3 Quake
A huge magnitude 8.3 earthquake in the South Pacific created a series of tsunami waves that struck the islands of Samoa, American Samoa, Tonga and Pago Pago, causing the deaths of at least 100 …
California’s Ventura County Fire Contained
The 27-square-mile wildfire known as the Guiberson in Ventura County is 100 percent contained. However, it may be a few more days before it is fully extinguished, fire officials said.