Mohamad Maita, 30, turned himself in to authorities after a warrant for his arrest was issued for five felony counts of insurance fraud. He was booked into the Sacramento County Jail, with bail set at $50,000. The California Department of …
Investigators from the California Department of Insurance Fraud Division served a warrant for arrest on Ali Saeed Echtibi of Fresno for his alleged involvement in a staged automobile collision insurance fraud scheme. A second arrest warrant was issued for accomplice …
Fitch Ratings downgraded the debt ratings of Markel International Ltd. and the insurer financial strength ratings of Markel International’s insurance operations and removed them from rating watch negative. The outlook is stable. Markel International was placed on rating watch negative …
Standard & Poor’s removed American Financial Group from CreditWatch, but lowered the company’s outlook to “negative,” saying improved earnings and capital adequacy would be needed for the outlook to be returned to stable. S&P did not lower American Financial’s debt …
The Property Loss Research Bureau (PLRB) will hold a second mold symposium May 6-7 at the Marriott Rivercenter in San Antonio, Texas. The meeting is a follow-up to PLRB’s first symposium last October, and is entitled “The PLRB National Mold …
The Independent Insurance Agents of America (IIAA) is telling state legislators that persuading insurers to modify their business practices offers a more effective solution than regulation in the debate over the use of credit scoring as an underwriting tool. IIAA …
A retired Navy Seal, who now is a top consultant in counter-terrorism security and a best-selling author, is one of an array of experts set to address executives of insurance brokers, independent agencies and insurers during IBA West’s 16th Annual …
Legislative action was completed March 6 on Utah House Bill 110 after the bill was amended to allow insurers to use credit-based insurance scores for initial underwriting in auto insurance. On rates, the bill still allows the scores to be …
About those two faces on our cover this week. They’re beaming, for now, because they prevailed in the primary race for insurance commissioner of California. But John Garamendi and Gary Mendoza won’t smile for long, at least at one another. …
Since the insurance industry’s inception, fraud has proved a perpetual problem, an inherent risk that will likely never be totally eliminated. Carriers have long warned that fraud ultimately causes them to raise premiums to offset resultant losses, but during periods …
