East News

Firm Pleads Guilty in Va. Court to $670M Insurance Fraud Scheme

A Costa Rican company has agreed to plead guilty to a $670 million global insurance fraud scheme. Provident Capital Indemnity Ltd. entered a plea agreement last Friday in U.S. District Court in Richmond, Virginia, where its majority owner and president …

N.J. School District Pays $4.2M to Student Paralyzed by Bully Attack

A New Jersey board of education says it wasn’t its decision to enter a $4.2 million legal settlement with a former student who said he wasn’t adequately protected from a bully. The Ramsey Board of Education released a statement Wednesday …

Brown & Brown Acquires Assets of Moten Associates in Pennsylvania

Brown & Brown of Pennsylvania Inc., a subsidiary of Brown & Brown Inc., said it acquired assets of Moten Associates, an independent agency in Norristown, Penn. Founded in 1970, Moten Associates offers surety bonds, as well as a wide variety …

N.Y. Law Firm Dewey & LeBoeuf Retains Bankruptcy Counsel, Role Unclear

Elite New York law firm Dewey & LeBoeuf has hired a prominent bankruptcy attorney as it struggles with high debt and partner defections, according to two attorneys at other law firms who have knowledge of the matter. Albert Togut , …

Hartford to Give $24M in Premium Credits to N.Y. AD&D Policyholders

Hartford Life Insurance Company, a subsidiary of The Hartford Financial Services Group, agreed to give $24 million in premium credits to some 300,000 New York residents who bought the company’s accidental death and dismemberment (AD&D) policies. It is part of …

Donegal Reports $8M Q1 Income, Largest Quarterly Earning in 3 Years

Donegal Group, a P/C insurance holding company headquartered in Marietta, Penn., reported $8.0 million net income for 2012 first quarter — almost four times the $2.2 million net income reported one year ago. Donegal said the $8.0 million 2012 first …

SIAA Announces 6 New Member Agencies in Northeast

The Strategic Insurance Agency Alliance (SIAA), a national alliance of over 4,000 independent insurance agencies, said six new agencies in the northeastern region became members in March. These new members are: Keane Insurance Agency of Enfield, N.H.; Bott Agency of …

N.Y. Official: More ‘Prescribed Burns’ Needed to Prevent Brush Fires

A Long Island official says budget cutbacks of “prescribed burns” have helped imperil thousands of acres of woodland during brush fires in recent days. Brookhaven Town Supervisor Mark Lesko is calling for a “six-figure” reinvestment in the program. Lesko says …

Massachusetts Docs Eye New Approach to Medical Malpractice Claims

It may become easier in the future for Massachusetts doctors to apologize for mistakes if an experiment by three major hospitals to reduce medical malpractice lawsuits succeeds. The program, called Disclosure, Apology and Offer, targets “defensive medicine” — a term …

N.Y.-Based Specialty Insurer Assurant Turns 120 Years Old

Assurant, a New York-based provider of specialty insurance and insurance-related products and services, celebrated its 120th anniversary Wednesday by ringing the ceremonial closing bell at the New York Stock Exchange, where the company is listed.Assurant traces its history to the …

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