Clayton Linn of Lake Elsinore, a fugitive since September of 1999, was arraigned in Riverside County following his extradition from Indiana. Investigators allege the 35-year-old man, who left California before being charged, filed a fraudulent theft claim with his insurer. …
Donald Clinton Jones of Walnut Creek, a licensed insurance broker, was arrested for insurance fraud following a September 1999 joint investigation between the CDI’s Fraud Division and Investigations Bureau and the Contra Costa District Attorney’s office. From February 1996 through …
Sylvester Chavez, 22, and Shelly Hayworth, 45, both of Fresno, were each charged with one felony count of insurance fraud after investigators learned that they had allegedly conspired to obtain insurance benefits for Chavez to which he was not entitled. …
Larry Ollison, a former member of the rock band The Platters, pled guilty of one felony count of insurance fraud. According to CDI fraud investigators, the 50-year-old Stockton man filed roughly 22 false claims with Republic Western Insurance between February …
Independent, privately held managing underwriter Professional Indemnity Agency (PIA) recently announced its acquisition of Morgan-White Ltd., Morgan-White Underwriters Inc., Morgan-White Administrators Inc., and Morgan-White Administrators International Inc. PIA offers a full line of specialty products including: kidnap/ransom; extortion & detention; …
Citigroup has completed its cash offer to purchase all outstanding shares of Class A common stock of Travelers Property Casualty Corp. at a price of $41.95 per share. Citigroup reported that a total of more than 52 million shares were …
An application by General Motors to move into banking by setting up a federal thrift was approved on April 20 by U.S. regulators. The world’s largest automaker already had a solid presence in financial services through General Motors Acceptance Corp.’s …
Seattle-based SAFECO Corp. announced that both Property & Casualty and Life & Investments operations performed below expectations during the first quarter. The underwriting loss is expected to be in the $135-million range, due in part to a tornado and severe …
A racial discrimination lawsuit filed by a Richmond fair-housing group against Nationwide Mutual Insurance Co. has been settled out of court. Terms were not disclosed. The lawsuit, filed last year in Virginia, alleged that Nationwide’s marketing efforts in and around …
Insure.com issued a report entitled “Hidden Rivers of Incentive: How Agent Commissions Affect Your Insurance Shopping,” that tells consumers how insurance agents are provided incentives through commissions, cash bonuses and other rewards. The report lists a sampling of agent commissions …
