A Miami federal grand jury indicted 18 members of a ring accused of “crashing for cash.” Court documents indicate the individuals recruited drivers to claim they were in automobile crashes, went to four clinics for treatments and fraudulently charged 30 …
New York’s Republican chairman called on state Attorney General Eliot Spitzer to return a $25,000 campaign donation from a former top executive of a company his office had investigated. The donation from Richard Ferrucci, a former senior vice president of …
Leading U.S. life and property/casualty insurance and reinsurance companies and the four largest life insurance companies in Japan have jointly advanced a draft of basic insurance accounting principles that recognize the unique features of insurance contracts for consideration by the …
Bermuda Dunes, Calif.-based Trinity E&S Insurance Services has promoted Osmo Laine to vice president of all brokerage operations and director of newly formed Small Business Unit. Laine formerly served as assistant vice president. Lorena Macias was promoted to vice president …
Canada’s auto insurers are disputing a recent study that showed Ontario drivers’ auto insurance rates are as much as 45 percent higher than those for British Columbia motorists. The Insurance Bureau of Canada said that premiums in Ontario are down …
Without hearing arguments, the Pennsylvania Supreme Court has upheld a lower court ruling that permits four corporations to bypass the state regulator’s liquidation procedures involving failed carrier Legion Insurance Co. and obtain their settlement monies directly from Legion’s reinsurers. The …
Hillary Rodham Clinton, who as first lady pushed a health care policy overhaul in the early 1990s, found Republican lawmaker Newt Gingrich as her adamant foe. But now the two are working together to promote health care reforms for the …
Medicaid fraud consisting of financial abuses by doctors, providers and patients will be targeted by a new 10-member fraud unit being formed in North Carolina. “We have to ensure that every Medicaid dollar is well spent,” Allen Dobson, a top …
London insurance companies facing asbestos, pollution and other long-tail liabilities to U.S. policyholders that resort to so-called “solvent schemes” to cut off claims and avoid liquidation have been dealt a serious blow. An English High Court ruling denying such a …
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of Assicurazioni Generali S.p.A. (Generali) (Italy). At the same time, A.M. Best has affirmed the ratings of debt instruments issued or …
