Martin Frankel, the rogue financier who led the world on a massive manhunt in 1999, was returned to the United States after being extradited from Germany. He appeared March 4 in federal court in New Haven, Conn., to face charges …
Frontier Insurance Group Inc. announced on March 2 the resignations of Patrick Kenny, executive vice president and chief financial officer; Douglas Moat, executive vice president; and Richard Seyffarth, executive vice president and chief investment officer. All are members of Frontier’s …
State Farm Insurance Cos., the nation’s largest personal lines insurer, announced Feb. 28 that its net income dropped 60 percent in 2000 due to a combination of increased claims and reduced rates. Net income from all sources, after federal income …
While the merits of President George Bush’s proposed budget are still being weighed, one of the items getting attention in the proposal is a cut in the National Flood Insurance Program. The new budget would end subsidized flood insurance premiums …
Acceptance Insurance Cos. Inc. of Omaha, continuing to exit its property and casualty businesses, announced on March 2 it has sold a majority of that operation to Insurance Corp. of Hannover, a division of Hannover Re. According to John E. …
The California Department of Insurance (CDI) Criminal Investiga-tions Branch reported evidence that fraudulent certificates of insurance have been issued to more than 100 taxicab companies operating throughout California, as well as more than 70 construction firms. Investigators executed search warrants …
PRC Corp., a subsidiary of ChoicePoint® , entered into an agreement to purchase 100 percent of the stock of Insurity Solutions Inc. from an internal management group and private investors. The acquisition aims to blend an Internet-based delivery system for …
It’s started again. Yep, suddenly everyone wants earthquake insurance. After the 6.8 shakeup in Seattle, who wouldn’t? Like most people who have some kind of friend or relation within 100 miles of Seattle, I called my aunt in Snohomish as …
As a distribution channel, independent agents are doing a fairly good job of holding down the fort. The Independent Insurance Agents of America recently examined market share among the three channels: direct response, captive agent and independent agent. 1 Independent …
American Sterling Insurance Company terminated the president of its personal lines division, Michael Galati, along with 12 other employees, on Feb. 22. The Laguna Hills, Calif.-based company also suspended alliances with 37 of its producers. “Our senior management at the …
