Two former insurance agents have been sentenced to imprisonment and ordered to pay $322,000 in restitution after an investigation by the California Department of Insurance revealed the two had allegedly stolen insurance premiums from more that 500 fraudulent auto insurance …
John Vernon Liller, 53, of Carson City, Nev., was sentenced after pleading guilty to felony fraud charges. Liller was the owner and agent at a Farmers Insurance office for over 22 years. Between March 2000 and March 2001, Liller allegedly …
Nuts & Bolts: Union General is offering general and professional liability coverage for health spas, exercise salons, fitness centers specializing in aerobic and dance exercise, and health clubs. Coverage is available for common exposures such as day care, pools, saunas, …
Nuts & Bolts: AIG Private Client Group, a division of the property and casualty subsidiaries of American International Group Inc. (AIG), has introduced Excess Flood Coverage to support insureds in the event of catastrophic loss caused by flood. Aimed at …
Nuts & Bolts: Builders & Tradesmen’s Insurance Services has available a market for inland marine tools. These packages offer coverage for office contents, fixtures, machinery, equipment, installation, miscellaneous tools and scheduled tools. The packages can be rated on the company …
Nuts & Bolts: The Princeton Agency/United Underwriting Agency is offering a market for monoline workers’ compensation. Dollars: EL up to 1M/1M/1M. No minimum premium up to $50,000. Carrier: Rochdale Insurance Company, Technology Insurance Company, The Hartford, The Guard. Rated “A-” …
Standard & Poor’s has published a report on the Asia-Pacific non-life reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to under priced excess capacity.” “Over the past two years, …
Despite an initial rush of proposed legislation aimed at dealing with the problems related to mold claims and homeowners insurance, very few bills have been enacted in 2003, according to the Alliance of American Insurers. “Compared with 2002, when only …
The California Department of Insurance’s proposal to further regulate the special investigations units of insurance companies is excessive and unnecessary according to the Alliance of American Insurers. In written comments on the Department’s proposed emergency regulations, Alliance vice president and …
California-based Westbourne International obtained an injunction against Arrowhead General Insurance Agency last month after a federal jury had previously awarded the company over $5.8 million stemming from Arrowhead’s reported infringment of Westbourne’s software. According to a sworn statement by Steve …
