There were no April Showers or May Flowers for Allstate Corp. this year. Rather the two spring months produced $340 million in catastrophe losses for the direct writer, whose announcement yesterday triggered a 7 percent reduction in the company’s stock …
A.M. Best Co. has downgraded the financial strength ratings of 14 life and health insurance subsidiaries of Conseco Inc., based in Carmel, Ind., to B++ from A-. The financial strength ratings of Frontier National Life Insurance Co. and Continental Life …
WebCE.com, a leading provider of Internet-based continuing education (CE) courses to the insurance industry, now has both proctored and non-proctored online testing available. “This new technology provides agents and adjusters nationwide with a complete turnkey solution to their CE needs …
SalvageSale.com, an independent online marketplace for worldwide claims recovery and commercial salvage, and Crawford & Co. have formed a strategic alliance to handle claims recovery. SalvageSale.com will be Crawford & Co.’s online marketplace for the sale of salvage, including damaged, …
Dutch banks and the Amsterdam Stock Exchange have reached a preliminary agreement with leaders of the World Jewish Congress (WJC) to settle outstanding Holocaust claims for a figure of $135 million, $3 million more than the recently announced offer by …
Martin Frankel, the financier that bilked several U.S. insurance companies of millions of dollars before disappearing and launching an international manhunt, has pleaded guilty to tax evasion charges in a German court. Frankel, 45, could be sentenced to as much …
New York Superintendent of Insurance Neil D. Levin announced yesterday that the Department has filed a notice of intent to appeal a June 9 decision striking down Regulation 68 on a procedural technical basis. The filing of the notice of …
New York Superintendent of Insurance Neil D. Levin announced yesterday that 18 individuals were arrested following an undercover sting investigation involving a garage that functioned as a “chop shop”. The individuals have allegedly defrauded over 10 insurers by submitting false …
Two Los Angeles resident have filed suit against California Insurance Commissioner Chuck Quackenbush, asking for the repayment of $13 million they claim the commissioner misappropriated in settlements with insurance companies accused of mishandling claims. The suit contends that moneys obtained …
Colonial Services Insurance Agency recently launched its web site, www.insurance4california.com, giving Southern California residents the chance to shop for—as well as purchase—automobile insurance policies online. The site, which offers immediate comparative quotes from A- rated insurance companies, is a full …
