A plan geared to reduce the number of uninsured motorists in Los Angeles and San Francisco will begin Saturday, with civic leaders nationwide watching closely to see if it might work in their communities. The program, which lowers premiums for …
The Senate Insurance Committee approved Assembly Bill 393, the agent licensing bill, and Assembly Bill 481, the claims bill, at a hearing on June 28. AB 393 would prohibit employees of insurance companies who do not have agent licenses from …
One day after the resignation of Insurance Commissioner Chuck Quackenbush, a former aide has been targeted in a criminal probe alleging he accepted kickbacks while on the job. Attorney General Bill Lockyer opened the investigation of George Grays after evidence …
American Financial Group, Inc.’s second quarter earnings from insurance businesses will be negatively impacted by certain litigation charges and by lower than expected underwriting results in its property and casualty insurance operations. As a result, second quarter earnings from insurance …
The American Safety Insurance Group, Ltd. board of directors has authorized a new stock repurchase program of up to 500,000 shares of the company’s common stock. Subject to availability, the transactions may be made from time to time on the …
Marshall & Swift announced it has formed an ownership alliance with Boston Ventures, a private equity group, with the goal of an eventual management buyout of the company. With headquarters in Los Angeles and Princeton, N.J., Marshall & Swift is …
The turbulent drama surrounding California Insurance Commissioner Chuck Quackenbush reached a climax on June 28 with the Commissioner’s resignation from office. As the dust settles, IJ looks back at the major events leading up to his ultimate downfall. March 26, …
The release by Swiss Re of a Sigma Study entitled “The Impact of E-business On the Insurance Industry: Pressure to Adapt–Chance to Reinvent,” is the third major report the company has issued in the last two weeks. Coming as it …
Fugitive financier Martin Frankel, whose extradition from Germany to face charges of multiple insurance fraud is being sought by the U.S., has appealed his three year prison sentence handed down by a German Court on unrelated charges. Frankel had previously …
Pennsylvania Insurance Commissioner Diane Koken announced yesterday Gov. Tom Ridge’s appointment of Ronald A. Gallagher Jr. of Cumberland County as Deputy Insurance Commissioner for Consumer and Producer Services. “Ron brings a strong customer focus to this position with a positive …
