Morteza Jafari, 46, and Mozghan Tavakoli, 37, a married couple who owned and operated a general contracting company called Sedcon; and Vicki Baltierra, 36, a Sedcon employee; were arrested and charged with 16 counts of workers’ comp insurance fraud. The …
After a two-year investigation by the CDI Criminal Investigations Branch, Robert Joseph Cote, 57, owner of Grand Valley Framing, was arrested on two felony counts of insurance fraud. In 1996, SCIF conducted a routine workers’ comp audit of Loomis, Calif.-based …
Following a 12-month investigation by the CDI Criminal Investigations Branch, Say Lo, 51, Micky Lo, 27, and Van Ho, 22, all of Sacramento, were arrested on 10 felony counts of insurance fraud. A juvenile member of the Lo family was …
Jay Neal Wright, 48, and his son Jay Neal Wright II, 27, both residential framing contractors of Phoenix, Ariz.; Don Jay Wright, 80, of Mesa, Ariz.; and Attorney Timothy Miller, 43, of Riverside, Calif.; were charged with multiple felony counts …
The “A+” insurer FSR on Arrow Reinsurance Company Ltd. was affirmed by Fitch. The Bermuda-domiciled reinsurance company is a wholly owned subsidiary of the investment banking and asset-management company, The Goldman Sachs Group Inc, and a capital support agreement exists …
The “AA” counterparty credit rating and FSR on Transatlantic Reinsurance Co. (TRC) and its core subsidiaries, Putnam Reinsurance Co. and Trans Re Zurich, were affirmed by S&P. Key rating factors include TRC’s very strong operating performance, extremely strong capitalization and …
The “A-” FSR on Max Re Ltd., Hamilton, Bermuda, was affirmed by A.M. Best. The nascent company’s progress in executing its business plan, favorable risk-adjusted capitalization, integrated risk management practices and management team’s experience were cited as major positive rating …
Following an announcement of XL Capital Ltd.’s plans to purchase Winterthur Inter-national, including Winterthur International Ins. Co. Ltd. (WII) and Winterthur International Reinsurance Co. Ltd. (WIRE), S&P reported that the “A-” counterparty credit rating and FSR on WII and WIRE, …
The “Api” FSR on Mutual Insurance Company of Arizona was affirmed by S&P. Key rating factors included extremely strong capital adequacy, historically positive operating results and conservative reserving. Those positive factors were partially offset by the company’s high geographic and …
The “A+” counterparty credit rating and FSR on RLI Insurance Co. was affirmed by S&P. The rating action also applies to the company’s subsidiary Mt. Hawley Insurance Co. S&P cited RLI’s very strong earnings, strong capitalization, good financial flexibility, and …
