A Louisiana state senator pleaded not guilty to charges of helping a convicted felon launder money to conceal her operation of an illegal insurance business. Sen. Derrick Shepherd, 38, a lawyer from a New Orleans suburb, made his first court …
A.M. Best Co. has affirmed the financial strength rating of ‘B’ (Fair) and issuer credit rating of “bb+” of Greenville Casualty Insurance Company, and has revised the outlook to positive from stable. “The rating affirmations reflect Greenville’s premium volatility, historically …
A San Francisco judge has refused Allstate’s request to block a 15.9 percent automobile insurance rate decrease. According to the California Department of Insurance, the rate decrease should take effect immediately, and will result in approximately $250 million in savings …
Hogan Insurance Services Inc. of Thousand Oaks, Calif., has expanded to Nevada with the opening of a new office in Henderson. Donna Ferguson will lead Hogan’s expansion in Nevada. Ferguson has more than 30 years of industry experience, having managed …
An insurance agent was arrested in California for defrauding 18 business owners by stealing more than $2.5 million in money they had paid him to take out insurance policies for their businesses, the California Department of Insurance reported. Anthony David …
Raleigh, N.C.-based BB&T Insurance Services has reached an agreement with Union Bank of California North America to purchase its San Diego-based insurance subsidiary, UnionBanc Insurance Services Inc. The acquisition would expand BB&T’s insurance operation in California, where wholesale insurance subsidiary …
Woodland Hills, Calif.-based Zenith National Insurance Corp. (NYSE: ZNT) reported net income for the first quarter 2008 of $41.9 million, or $1.12 per share, compared to net income for the first quarter 2007 of $64.5 million, or $1.73 per share. …
A consumer advocacy group is condeming California Insurance Commissioner Steve Poizner’s action in issuing emergency regulations governing the state’s prior approval insurance rate system. According to The Greenlining Institute, the new regulations make it more likely that insurance companies will …
Heffernan Insurance Brokers, an independent brokerage based in San Raphael, Calif., has appointed Andre Olivan leader of its new fleet transportation practice. Olivan will work out of the company’s Walnut Creek, Calif., office. He will oversee new business development in …
