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 …
Investigators from the California Department of Insurance (CDI) arrested Frankie Lopez II, 26, and Gina Marie Martino, 27, both of Stockton, on three felony counts each of insurance fraud. Lopez and Martino were booked into the San Joaquin County Jail, …
A new report completed by Tillinghast-Towers Perrin presents the current state of the California Earthquake Authority (CEA) in a positive light. The “CEA Project Consulting Team Report” was commissioned by the CEA Governing Board to analyze the entity’s current structure …
An Oakland, Calif., jury awarded a record-setting claim for overtime to a group of Farmers Insurance Adjusters participating in a class action suit. More than 2,000 adjusters working for Farmers Insurance Exchange will receive $90,009,208 following five years of litigation …
California’s Senate Transportation Committee rejected a bill on July 10 that would have mandated a Highway Patrol study on the link between cellular phone use and bad driving. The bill, which was authored by Assemblyman George Nakano (D-Torrance), was overridden …
