Mohamad Maita, 30, turned himself in to authorities after a warrant for his arrest was issued for five felony counts of insurance fraud. He was booked into the Sacramento County Jail, with bail set at $50,000. The California Department of …
According to KITV, the Hawaiichannel.com, a state House committee gave the go-ahead on a bill Feb. 13 to repeal the traffic camera program and replace it with a new improved program they hope drivers find more to their liking. The …
The state Senate has passed a bill requiring “living expenses” to be paid in rehabilitation claims under personal injury protection (PIP) provisions in the state’s no-fault auto insurance law. “The additional costs created by Senate Bill 91 would raise auto …
CNA Financial Corporation reported a fourth quarter 2001 net loss of $22 million compared with net income of $193 million for the same quarter in 2000. Total net loss for the year ended Dec. 31, 2001 was $1.6 billion compared …
The National Association of Mutual Insurance Companies (NAMIC) issued a statement in response to legislation introduced by Rep. John LaFalce (D-N.Y.), the ranking Democrat on the House Financial Services Committee. His bill, the Insurance Industry Modernization and Consumer Protection Act, …
As of Feb. 12, 2002, 21 states have introduced bills that would ban or restrict the use of credit-based insurance scoring according to the National Association of Independent Insurers. On Feb. 13, the Minnesota House Insurance Committee held a hearing …
Ohio Department of Insurance Director Lee Covington, in his capacity as Liquidator of Credit General Insurance Company, announced a settlement with New York-based AmTrust Financial Group resolving all disputes that were the subject of a lawsuit Covington filed in Franklin …
A Nebraska legislative committee killed a bill Feb. 13 that would have required insurers to report all auto insurance cancellations to the state. National Association of Independent Insurers (NAII) Counsel Ann Weber submitted testimony to the Banking, Commerce and Insurance …
Standard & Poor’s announced that it has lowered its counterparty credit and financial strength ratings on Scandinavian Reinsurance Co. Ltd. (Scan Re) to triple-‘B’-minus from single-‘A’-plus and placed them on CreditWatch with negative implications. S&P also placed its single-‘A’-plus counterparty …
Lloyd’s is apparently set to receive a clean bill of financial health from the auditors who’ve been examining its accounts, and evaluating its reserves, as part of last November’s agreement with the National Association of Insurance Commissioners, to give Lloyd’s …
