After fleeing to the Caribbean eight months ago to avoid charges that they stole $10 million from insurance clients, a San Jose, Calif. couple appeared in court Tuesday for the first time and were ordered held on $10 million bail …
In an effort to restore profitability to its collision and comprehensive rates, OrionAuto announced that it would remove its full coverage rates from the FSC comparative rater for high performance and high value automobiles. The change, which will be effective …
Acting Insurance Commissioner J. Clark Kelso announced the award of 429 new earthquake retrofit grants to low- to moderate-income California homeowners in Fresno, Kern, Kings, Los Angeles, San Bernadino, San Mateo and Tulare counties. Retrofitting homes–which could include bolting homes …
The Hartford Financial Services Group has completed the purchase of the financial products and excess and surplus lines from Reliance Group Holdings. The acquisition, first announced June 19, has cleared all regulatory hurdles. The purchase includes the in force, new …
Old Guard Group, Inc. has received shareholder approval for its acquisition by Ohio Farmers Insurance Company. With more than 71% of the outstanding stock voting, 92% were voted in favor of the transaction. The transaction will close at the end …
Jefferson Insurance Group has merged with Interstate Insurance Group to create one of the top five domestic Excess & Surplus markets in the country with gross premiums expected to top $400 million. Gary R. Dittman, president and CEO of Interstate, …
The Kemper Insurance Companies has become the first company to license HNC Insurance Solutions’ new VeriComp Subro software system, which automatically identifies and notifies carriers of claims with a high potential for subrogration – claims that should actually be paid …
Chase Manhattan Corp. plans to buy commercial and investment bank J.P. Morgan & Co. Inc. for $33.2 billion in stock. The merged bank will be called J.P. Morgan Chase & Co., and will combine two of the country’s oldest, biggest …
Summit Global Partners, a Dallas-based brokerage, has opened a new retail office in Troy, Mich. James R. Parry Sr. will serve as president and chief executive officer for SGP Michigan. Parry formerly served as vice chairman of Meadowbrook Insurance Group.
The Michigan Office of Financial and Insurance Services announced that Michigan Basic Property Insurance Association homeowners premiums are increasing 4.1 percent, effective Oct. 1, 2000. “Consumers that are affected by this rate increase are experiencing increases comparable to the voluntary …
