Federal securities regulators filed suit against a Texas-based provider of so-called “life settlements,” accusing it and three top executives of defrauding shareholders by overvaluing the life insurance policies it buys from its customers. In a statement, the Securities and Exchange …
State Auto Financial Corp., based in Columbus, Ohio, announced that the State Auto Group has entered into a quota share reinsurance agreement with a syndicate of reinsurers covering its homeowners book of business. The three-year agreement was effective Dec. 31, …
Workers’ compensation claim costs have grown slowly in Michigan as a result of the recession, a new study says. The study, “CompScope Benchmarks for Michigan, 12th Edition,” by the Workers Compensation Research Institute (WCRI), found that amid recessionary pressures, indemnity …
Now that the year 2011 is behind us, let’s take a look at what might be ahead. Insurance Journal spoke with leading industry professionals and asked them what they are expecting this year. If their forecasts are any guide, 2012 …
Allstate Insurance is seeking to recover more than $1.1 million from 16 New York-area defendants. According to its federal complaint filed last week, the insurer alleges that a chiropractor, together with one layperson and two lay entities, illegally owned and …
Rancho Cordova, Calif.-based WIAA Education & Research Foundation, a nonprofit corporation focused on advancing knowledge of insurance industry professionals, hosted a recent roundtable discussion on the industry and where it’s headed. The daylong event was attended by 23 insurance industry …
Medical Protective Co. (MedPro), a medical professional liability insurance unit of Berkshire Hathaway, announced this week the completion of its acquisition of Princeton Insurance Co. Princeton Insurance is a New Jersey-based professional liability insurer for healthcare providers. It employs over …
The economy, the promised-land of a hard insurance market and the need to master technologies dominated discussion at the first annual Insurance Industry Roundtable in Irvine, Calif. The daylong event was attended by 23 insurance industry professionals. It included three …
Wrongful death lawsuits have been filed in Nevada state court against a Colombian couple convicted of causing a 42-year-old Las Vegas woman’s death in a botched buttocks enhancement procedure in the back room of a tile store. A lawsuit filed …
Members of TechAssure have created a website to offer fast quotes for IT-related businesses looking for coverage with CoverITfast. The website, http://coveritfast.com/coverit/, was designed to speed up the process of procuring insurance for IT consultants and technology companies across the …
