The market in weather derivatives has really developed over the last five years,” said Diego Wauters, executive director and global head of SG Insurance and Weather Derivatives, a specialized division of French Bank Société Générale in London. Wauters, who formerly …
A total of 10 current or former members of the Independent Insurance Agents of Texas (IIAT) have filed for election to the Texas Legislature or U.S. Congress. Seven members are seeking reelection, while three are new candidates. Those elected will …
The Texas Department of Insurance recently opened two fronts in the battle to shore up the weary homeowners market in the state. Responding to consumer complaints about excessive rate increases—exceeding 100 percent in some cases—Commissioner Jose Montemayor ordered an inquiry …
Dire predictions have been floating around since September 11 regarding the availability and pricing of insurance coverage for commercial property, largely due to the issues surrounding terrorist exclusions and whopping renewal prices from reinsurance carriers. Even before 9/11, property rates …
A Sacramento man faces possible revocation of his license as a Public Insurance Adjuster for allegedly soliciting and accepting illegal kickbacks from a contractor. Resulting from an investigation conducted by the Criminal Investigations Branch’s Investigation Bureau, the CDI filed an …
CDI investigators arrested Nasratullah Mohammad of Canoga Park, for five felony counts of grand theft and insurance fraud. He was booked into the Los Angeles County jail. Bail was set at $30,000. The charges stem from an investigation into Mohammad’s …
Terry Thomas, 31, of Downey, Calif., was sentenced in Los Angeles Superior Court to five years in state prison on one count of insurance fraud and one count of conspiracy to commit insurance fraud. Thomas’ conviction is the result of …
Washington’s Department of Labor and Industries has ordered a 37-year-old Dallas, Ore., man to repay nearly $43,000 after an investigation revealed he had collected workers’ compensation benefits illegally. Shannon Wiley, formerly of Lacey, Wash., worked as a millwright in 1995, …
Charges have been filed by the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division against three Santa Rosa, Calif., residents, charging them with six counts of insurance fraud and three counts of attempted grand theft. Earl R. Small, …
An Insurance Research Council (IRC) and Insurance Services Office Inc. survey shows that insurers of all sizes consider fraud “a serious problem.” According to a PRNewswire report, more than one-third of insurers feel that the amount of fraud has grown …
