In the largest fraud order ever issued against an individual, the Washington State Department of Labor and Industries ordered a 52-year-old Minnesota woman to repay the state $434,851 after discovering she continued to collect workers’ comp widow’s benefits after she …
Jagdish Chandra of Fullerton was arrested by CDI investigators arrested on one count of insurance fraud and two counts of perjury. Chandra, 58, was booked into the Orange County Jail on a $10,000 bail felony warrant. An investigation revealed that …
CDI investigators recently arrested a Rancho Cucamonga husband and wife for alleged insurance fraud. Richard and Janey Bonet were booked into the West Valley Detention Center with six counts of workers’ comp premium fraud and one count of grand theft …
Following a four and a half-year investigation and prosecution by CDI, the Employment Development Department (EDD) and the San Mateo County District Attorney’s Office, Laurence Bennett Guy was sentenced in Superior Court, County of San Mateo on five felony counts …
CDI investigators arrested Chester Green of Modesto, Calif., on four felony counts of insurance fraud. Green, 36, was arrested at his business and booked into the San Joaquin County Jail. Bail was set for $5,000. The Sacramento County District Attorney’s …
A.M. Best Co. affirmed the “A+” FSR of The St. Paul Companies’ property/casualty subsidiaries and lowered the company’s long-term debt ratings. Senior debt has been lowered from “a+” to “a;” subordinated debt from “a” to “a,” and preferred securities from …
Standard & Poor’s lowered its senior debt and preferred stock ratings on Travelers Property Casualty Corp. from “A+” and “A-” to “A” and “BBB,” respectively. At the same time, S&P affirmed its “AA-” counterparty credit rating and financial strength rating …
A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on Sept. 11, collectively referred to …
While the Seattle Mariners made a huge leap on the baseball diamond this past season, the cost to insure Safeco Field tripled. According to a report in The Seattle Times, over a three-year period, the annual premium on a $100 …
The Board of Directors of the National Association of Mutual Insurance Companies (NAMIC) has endorsed the use of a consumer’s credit history by property/casualty insurers to help them make underwriting, marketing and rating decisions. NAMIC stated it does not advocate …
