Following a joint investigation by the CDI Investigation Bureau and the National Insurance Crime Bureau, Jesse Wong, a Southern California insurance agent, was sentenced on Aug. 17 after pleading no contest to five felony counts of grand theft. The Los …
Kathleen C. Ridgway, a Beverly Hills office manager, was arrested at work on Aug. 7 on one felony count of insurance fraud and one count of grand theft. The L.A. County District Attorney’s office is prosecuting the case. CDI fraud …
In a recent letter to agents, XDimensional Technologies Inc. (XDTI) CEO Craig W. Fuher announced that XDTI, formerly Fuher and Associates Inc., and Applied Systems Inc. had terminated their formal relationship. As a reason for the breakup, the letter cited …
Ground acceleration in the Sept. 3 magnitude 5.2 Napa Valley earthquake reached 40 percent of the force of gravity, according to new shake maps issued by the U.S. Geological Survey. The 1994 Northridge quake had a peak intensity of 182 …
Former California Insurance Commissioner Chuck Quackenbush has decided to move his family from Rio Linda, a semi-rural community a few miles north of Sacramento, to Hawaii, the Los Angeles Times reported. Quackenbush resigned July 10 after months of allegations that …
Despite a recent hardening of prices in the property/casualty industry, underwriting performance worsened during the first half of 2000, according to A.M. Best Co.’s six-month report. The industry’s average combined ratio for the second quarter of 2000 was 111.2, compared …
Superior National Insurance Group Inc. reached an agreement with the California Department of Insurance (CDI) and certain affiliates of the Kemper Insurance Group under which the conservation of Superior’s insurance companies and Superior’s reorganization efforts will continue simultaneously. Through this …
At the end of August, AXA Financial (AXF), the unit of France’s AXA Group that controls its U.S. subsidiaries, agreed to sell its 71 percent stake in the investment bank Donaldson Lufkin and Jenrette (DLJ) to Credit Swiss First Boston …
Without revealing your age, do you remember the hard market of the mid-’80s? Rest assured, we are a long way from returning to the marketplace of 15-plus years ago. However, the market has bottomed and is beginning to harden—only slightly …
Speakers at the recent American Agents Alliance Conference & Expo 2000 in San Diego had a similar message of hope and of change for the independent insurance agency system. Alliance President Herb Jones, who welcomed everyone at the Opening General …
