Standard & Poor’s today assigned its preliminary “A” issuer credit rating to Mercury General Corp. (Mercury). The outlook is stable. At the same time, S&P assigned its preliminary “A” rating to up to $150 million of senior debt to be …
California Department of Insurance (CDI) Criminal Investigators arrested a San Bernardino man on July 26 and charged him with two felony counts of insurance fraud. Tom Davido, 56, was booked into Riverside County Jail and bail was set at $5,000. …
InsuranceNoodle, an online distributor of small business insurance through independent agencies, has engaged Woolard Gioia Blundell Associates as a strategic partner to assist in developing specifications for a range of new products to complement its current line-up of commercial insurance …
Reinsurance Group of America Inc. reported operating earnings from continuing operations of $0.72 per diluted share for the second quarter, up 13 percent from $0.64 per diluted share reported in the prior year. Operating earnings from continuing operations totaled $35.8 …
Unisys Corporation announced that it has established an Internet-based Risk Trading Exchange for the global insurance/reinsurance marketplace. Enabling all market players to access and transact numerous types and classes of insurance/reinsurance business, the exchange handles binding authorities, facultative reinsurance and …
Maryland Attorney General J. Joseph Curran Jr., announced the filing of criminal insurance fraud charges against Lewis Mulitz, president of PICO Industries of Baltimore. In a three count criminal indictment filed in the Circuit Court for Baltimore City, Mulitz was …
New Jersey auto insurer the Prudential Group was ordered last week to refund $25.1 million on 325,000 auto policies in the state because the company’s auto business received more profit than the law allows. The refunds, which will be based …
The Business Owners Policy (BOP) has been around for at least a couple of decades now. BOPs are traditionally associated with small businesses seeking basic liability and property coverages. But over the course of the years, much has changed in …
In a move to trim expenses and bring accountability back to every office, SAFECO President and CEO Mike Mc-Gavick is chartinga course to return the company to the forefront of commercial insurance operations. SAFECO announced $100 million in annual expense …
The CDI announced three arrests and the service of 20 search warrants on 12 chiropractic offices, six banks and two residences as part of an operation by the Bay Area Organized Automobile Fraud Activity Interdiction Task Force. The task force …
