The Pennsylvania Insurance Department has set Thursday, May 23, 2002, as the date for a public informational hearing on Provident Mutual’s proposed sponsored demutualization. “Under the proposed sponsored demutualization, Provident Mutual would convert from a mutual insurance company to a …
William Kress, 50, of Hamlin, New York, has been arrested on charges of insurance fraud, following an investigation by the NYSID’s Frauds Bureau and State Farm’s Special Investigation Unit. According to the report from the Superintendent’s office Kress allegedly “submitted …
An Orange County, Calif., woman pled guilty to three counts of insurance fraud, which includes paying $70,000 restitution to Kemper Insurance Co. Noel DeSota was arrested last September by California Department of Insurance (CDI) fraud investigators and was sentenced to …
Woodland, Calif. homeowners are likely to soon receive letters from their mortgage letters requiring them to purchase homeowners insurance, according to the Sacramento Bee. The Federal Emergency Management Agency (FEMA) recently redrew the city map to include a flood risk …
A California insurance committee has approved legislation that would indefinitely extend the state’s experimental low cost auto insurance program and could drive up the number of underinsured motorists. “No justification exists to radically change this program or to make it …
MMC Capital, Inc., the private equity investment subsidiary of Marsh & McLennan Companies, Inc., announced that Garrett Moran has been appointed a senior advisor to the company. Moran will provide counsel on all aspects of MMC Capital’s business, with particular …
Builders, subcontractors, manufacturers and insurers need to work together to minimize the threat of construction defect exposures by promoting high-quality products and proven risk management techniques according to the National Association of Independent Insurers (NAII). “Because construction defect exposures threaten …
The Alliance of American Insurers has voiced its support for the broad outline of the Bush Administration’s ergonomics program announced in the last week. Voluntary guidelines and targeted enforcement actions have long been supported by the Alliance and its member …
According to a Reuters report, a federal judge has postponed plaintiffs’ request for an injunction to thwart accounting firm Arthur Andersen from selling off its assets. The delay allows the firm to negotiate a settlement in a slew of civil …
Property and casualty insurance holding company, Cincinnati Financial Corporation, announced at its recent shareholders’ meeting that shareholders approved a proposed stock option plan, turned down a shareholder proposal on the makeup of the company’s board of directors, and re-elected five …
