Investigators with the California Department of Insurance (CDI) Fraud and Investigation Divisions announced recent developments in the following fraud cases: * OAKLAND, CA – As a result of an on-going investigation involving Phil-Am Auto Body Shop in Oakland, seven additional …
The Alliance of American Insurers is disappointed that the Montana Legislature has failed to pass a bill that would have struck a fair compromise on regulating how insurers use consumer credit histories in underwriting and rating policies. The bill, SB …
A pending Iowa regulation that would regulate the way insurers settle automobile claims is flawed and should be changed, according to the Alliance of American Insurers. “In its current version, IAC 191-15 would force insurers to pay third-party claimants for …
Moody’s Investors Service has upgraded Mayfield Village, Ohio-based Progressive Corp.’s senior unsecured debt rating to “A1” from “A2.” In the same action, the rating agency upgraded the insurance financial strength ratings for the company’s operating insurers to “Aa2” from “Aa3.” …
Itasca, Ill.-based brokerage giant Arthur J. Gallagher & Co.’s first-quarter net income dropped by 64.7 percent in the first quarter to $11.9 million, while the firm reported $254.3 million in revenues, up by 22 percent. According to a statement, Gallagher …
New revisions to the federal rules that govern how long truckers can drive at one stretch and remain on-duty fall short from a public safety perspective, according to the American Insurance Association (AIA). The long-awaited rule released by the U.S. …
A Senate panel this week approved two major bills that would reportedly change the way insurance rates are regulated in Louisiana, bringing more companies and competition into the state. The measures, Senate Bill 721 and SB 245, passed the Senate …
Crawford & Company announced its financial results for the first quarter ended March 31, 2003, noting that revenues before reimbursements totaled $167.3 million compared with $171.8 million in the 2002 first quarter. First quarter 2003 net income was $3.2 million …
Two insurance-related firms located in the Southeastern U.S. declared quarterly dividends this week. Alfa Corporation, Montgomery, Ala.-based firm engaging in insurance and financial activities through subsidiaries announced that its Board of Directors declared a regular quarterly cash dividend of $0.08 …
Oklahoma Insurance Commissioner Carroll Fisher suspended the license of Edmond agent Earl Cody after Cody refused to permit examiners from the Oklahoma Insurance Department to review records as part of an investigation into alleged misappropriation of premiums. According to the …
