CDI fraud investigators arrested a Fresno resident, Kyle Cory Bettencourt, 27, on auto insurance fraud charges on May 22, 2001 and booked him into the Fresno County Jail. Bettencourt was charged with four felony counts of insurance fraud, perjury, and …
The California Department of Insurance (CDI) announced the sentencing of Lonnie Lee Harwell, a Sacramento man, for his alleged involvement in a nationwide scheme intended to defraud investors and the insurance industry. Harwell was sentenced by U.S. District Court Judge …
QBE Re Group had its FSR of “A” affirmed by A.M. Best Co. The rating applies to QBE Reinsurance Corp. (formerly Sydney Reinsurance Corp.) and its reinsured subsidiary, QBE Insurance Corp. The rating highlights the group’s excellent capitalization, solid liquidity …
Iron Trades Insurance Co. had its long-term counterparty credit and insurer FSR raised by to “A+” from “A-.” The outlook is stable. The decision was based on support from ITIC’s parent, QBE Insurance Group Ltd., in the form of a …
Nationwide Mutual received an “AA” insurer financial strength rating (FSR) from Fitch, as did its related pool members, Nationwide Mutual Fire Insurance Co., Scottsdale Insurance Co., and Farmland Mutual Insurance Co. Also, Fitch assigned an “A+” surplus note rating to …
Fitch affirmed the “AA” rating of the Port of Seattle, Washington’s outstanding $895,465,263 senior lien revenue bonds. The rating affirmation is in response toFebruary’s magnitude 6.8 earthquake in the Puget Sound area, which did damage to Port of Seattle facilities, …
Zenith National Insurance Corp. (ZNT), Zenith Capital Trust I, and the members of the Zenith National Insurance Group Intercompany Pool had their ratings lowered by Standard & Poor’s. The outlook is negative. ZNT is primarily an insurance holding company with …
The law firm of Dwyer & Collora LLP announced that on June 8, Federal Judge Robert E. Keeton of the U.S. District Court of Massachusetts certified state classes for four states, including Massachusetts and Connecticut, in a suit filed against …
Washington is again accredited by the National Association of Insurance Commissioners to monitor the solvency of insurers. State Insurance Commissioner Mike Kreidler said regaining accreditation was his top priority when taking office in January. At the time, Kreidler, a Democrat …
A jury awarded almost $7,000,000 in earthquake repair costs and bad faith damages on June 15 to a Culver City condominium homeowners association in a lawsuit against Scottsdale Insurance Company. According to the Los Angeles law firm of Quisenberry & …
