S&P affirmed the “BBpi” financial strength ratings on several stock companies, all members of the ULLICO Group (a mid-sized insurance group, ultimately owned by the privately held stock company, ULLICO Inc.). Ulico Casualty Co., domiciled in Delaware, is licensed in …
A.M. Best upgraded Accident Fund Company, Michigan’s leading workers’ comp insurer, to an “A” rating. Best indicated that the upgrade reflected the company’s strong earnings performance, excellent capital position, high quality investment portfolio and leadership position in the workers’ comp …
A “BBpi” financial strength rating was assigned to Michigan Lawyers Mutual Insurance Co. by S&P. Rating factors included the company’s higher than average susceptibility to regulatory changes, irregular operating earnings pattern and volatility in the areas of premium income and …
Moody’s Investors Service raised the following RenaissanceRe Holdings Ltd. ratings: Renaissance Re Capital Trust capital securities to “baa2” from “baa3”; RenaissanceRe Holdings Ltd. junior subordinated debt to “Baa2” from “Ba1.” The ratings action reflects the Bermuda-based company’s strengths in cumulative …
Maritime Insurance Company Ltd. (CNA Maritime) was assigned counterparty credit and financial strength ratings of “A” by Standard & Poor’s (S&P), which indicated that the ratings were a reflection of the company’s own stand-alone rating characteristics as well as its …
Nevada’s Division of Insurance (DOI) state officials uncovered a scam in which flea marketers in Clark County were selling proof-of-auto insurance cards for $100 a piece. According to Betty Baker, insurance counsel and hearing officer for the Nevada DOI, the …
The Department of Consumer and Business Services (DCBS) revoked Brian K. Dusenberry’s insurance agent license for violations of the Oregon Insurance Code. DCBS also revoked the firm license of Fairway Insurance Agency, Dusenberry’s Woodburn agency. According to an investigation by …
The Department of Consumer and Business Services (DCBS) revoked the individual and corporate insurance agent licenses of Eugene P. Hamilton of Portland for defrauding an insurer and other violations of the Oregon Insurance Code. On July 12, 1997, an 18-year-old …
Thanks to the Arizona Department of Insurance Fraud Unit, the Department of Public Safety, the Phoenix Police Department, and the help of a forensic odontologist, a 30-year-old Phoenix man with a broken front tooth who is suspected of staging numerous …
Jo Blackmore of Van Nuys was arrested on workers’ comp fraud. The 55-year-old real estate agent continued to work while receiving disability benefits. According to CDI fraud investigators, on April 28, 1998, Blackmore filed a workers’ comp claim with State …
