Latest Arizona Headlines
All the headlines from our Arizona Topic Page, ordered by recency.
Ariz. DOI Makes Arrests in Ariz./Calif. Auto Fraud Scheme
Jan 31 2003 // The Arizona Department of Insurance Fraud Unit assisted the Phoenix Police Department’s Fugitive Apprehension and Investigations Detail in arresting Juan Reyes Marrufo, 35, Maricela Armenta, 34, and Cristina...
Ariz. Fraud Suspect Arrested for Witness Tampering
Jan 13 2003 // On Dec. 13, 2002, James Kovacs was arrested in Tucson, Ariz. on an outstanding warrant charging him with witness tampering. The Pima County Fugitive Task Force arrested Kovacs who is now awaiting trial in Santa Cruz County...
Ariz. DOI Fines State National $110,00 for Auto Violations
Jan 10 2003 // The Arizona Department of Insurance ordered State National Insurance Company to cease and desist from violating auto insurance laws on Dec. 10, 2002. The Department of Insurance conducted an examination of the automobile...
ISO Estimates Insurers’ 3rdQ Catastrophe Losses Reach $675M
Oct 24 2002 // Insurers are expected to pay $675 million to homeowners and businesses for insured-property losses from six catastrophic events in the third quarter of this year, according to preliminary estimates by the Insurance...
Ariz. Dept. of Insurance Suspends License of Foundation Reserve Co.
Oct 18 2002 // On Oct. 2, 2002 the Arizona Department of Insurance suspended the license of Foundation Reserve Insurance Company (Foundation Reserve) due to its unsound financial condition. Consequently, Foundation Reserve is prohibited...
Seibels Bruce Downgraded by S&P’s, Demotech
Sep 18 2002 // Standard & Poor’s assigned its “R” financial strength ratings to three subsidiaries of The Seibels Bruce Group Inc.: South Carolina Insurance Co. (SCIC), Catawba Insurance Co. (CIC), and Consolidated...
11 Company Partners to Attend Target Markets-Program Administrators Association 2002 Summit in Ariz.
Sep 9 2002 // The Target Markets Program Administrators Association announced that 10 insurance companies specializing in program business will be attending their Second Annual Summit meeting to be held in Tempe, Arizona Oct....
Ariz. DOI Licenses Ariz.’s First Captive Insurer
Sep 5 2002 // Arizona Director of Insurance Charles Cohen announced the issuance of Arizona’s first Captive Insurer License effective Aug. 20, 2002. It was issued to Triad Commercial Captive Insurance Company, owned by Grant...
Arizona 2002 Session Legislation Takes Effect This Week
Sep 3 2002 // Arizona property/casualty insurance laws addressing the use of credit information, new form filing and investment provisions, spiraling costs of construction defect litigation and minors’ seatbelt usage took affect...
Seibels Bruce Group Discloses Order from Ariz. Dept. of Insurance
Aug 28 2002 // The Seibels Bruce Group Inc. announced that it received a Consent Order issued yesterday from the Arizona Department of Insurance (AZDOI) suspending the certificate of authority held by its subsidiary, Consolidated...
BNCCORP Reports Lower 2ndQ Earnings
Jul 30 2002 // North Dakota-based BNCCORP Inc. reported net income of $102,000, or $0.03 per common share on a diluted basis, for the second quarter ended June 30, 2002 compared with net income of $691,000, or $0.28 per share for the...
Captivating Times for Insurance in Arizona
Jul 22 2002 // On July 1, the Arizona Captive Insurance Act went into effect, and the Arizona Department of Insurance Captive Division began accepting applications to establish captive insurers in the state. The division formed was a...
Insurers looking at $120M Price Tag for Insured-Property Losses from Ariz. Wildfire
Jul 19 2002 // Insurers are expected to pay an estimated $120 million to home owners and businesses for insured-property losses from the Rodeo-Chediski Complex wildfire in Arizona, according to preliminary projections by the Insurance...
Compass Bancshares Finalizes Purchase of Ariz.-based Agency
Jul 16 2002 // Compass Bancshares, Inc. has completed its acquisition of Schaefer-Smith- Ankeney Insurance Agency, L.C., a Phoenix, Arizona based full-line general insurance brokerage firm. Schaefer-Smith-Ankeney specializes in providing...
Ariz. Director of Ins. Visits Claims Facilities in Wildfire Area
Jul 9 2002 // Arizona’s director of insurance, Charles Cohen, recently visited Show Low, Ariz. to inspect the on-site catastrophe claims facilities of the four largest homeowner and auto insurers in Arizona: State Farm, Farmers,...
Ariz. Captive Opens Soon for Business
Jun 10 2002 // On July 1, the Arizona Captive Insurance Act will go into effect, and the Arizona Department of Insurance Captive Division will begin accepting applications to establish captive insurers in the state. An Arizona captive...
Ariz. Enacts Law to Lessen Construction Defect Lawsuits
May 31 2002 // Arizona’s governor signed a bill recently that will establish an alternative dispute resolution procedure for certain construction defect claims, providing a modicum of relief to a beleaguered construction industry,...
ANDERSEN AGREES TO SETTLEMENT
May 27 2002 // A new chapter was unveiled in the Arthur Andersen battle with investors earlier this month as the company said it would agree to pay $217 million to compensate those investors in an alleged fraudulent Arizona charity....
Ariz. HB 2192 to Protect Consumers who Depend on Structured Settlements
May 21 2002 // The Arizona Legislature passed a bill May 16 aimed at protecting consumers who depend on structured settlements, and could become the fourth state this year to enact such a law, according to the Alliance of American...
Andersen agrees to $217M Settlement in Ariz. Charity Case
May 8 2002 // A new chapter was unveiled in the Arthur Andersen battle with investors Monday as the company said it would agree to pay $217 million to compensate those investors in an alleged fraudulent Arizona charity. Andersen had...
