A.M. Best Co. has issued a comment indicating that the ratings of Germany’s Muenchener Rueckversicherungs-Gesellschaft (Munich Re) remain unchanged following the announcement that it intends to sell its 90.1 percent shareholding in Karlsruher Versicherungsgruppe to Wüstenrot & Württembergische. “Munich Re’s …
“Glitches” in policies agents select for insureds and possible coverage “fixes” to close these gaps or lapses in coverage were discussed by Fred Macy, president of Gray Wolf Insurance Seminars during the Oct. 7-10 106th Annual Professional Independent Insurance Agents …
Three Mississippi residents have been accused of making false claims to the Federal Emergency Management Agency for Hurricane Katrina relief funds. Dunn Lampton, U.S. Attorney for the southern district of Mississippi, told the Meridian Daily News that Bryan Michael Beets …
Nine Broward County residents have been charged in Fort Lauderdale with defrauding the Federal Emergency Assistance Agency by obtaining disaster relief after Hurricane Frances made landfall last year almost 100 miles away. The claims were filed after Francis made landfall …
Even though the National Council on Compensation Insurance has doubled to 7.2 percent its suggested rate reduction in Florida, Allan Schwartz, an actuary hired by Steve Burgess, an Insurance Consumer advocate says the decrease is not enough and recommends a …
South Carolina’s Attorney General’s Office is beefing up its Fraud Division staff to reduce a backlog of cases and answer critics who say the department isn’t tough enough on insurance scams. The office has $400,000 in this year’s budget to …
A decision not to approve a rate request by Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company was announced last week by Florida Insurance Commissioner Kevin McCarty. McCarty’s decision was applauded by Tom Gallagher, Florida CFO, who said an …
New York Governor George E. Pataki has proposed legislation that would require operators of commercial boats involved in incidents where passengers are severely injured or killed to undergo an immediate, mandatory chemical test to determine if the operator was under …
Dozens of restaurants and private clubs are appealing a state mandate in Massachusetts that they install sprinkler systems, arguing that they are being misclassified as nightclubs. The Legislature last year passed a law requiring any club with an occupancy of …
ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announced the formation of ACE Energy, a new retail business unit which will focus on serving the complex insurance needs of the U.S. energy marketplace. ACE Energy …
