Pennsylvania seeks to recover damages from Saul P. Steinberg and other former executives who allegedly are at fault for Reliance Global Holding’s bankruptcy, as well as the failure of its subsidiary, Reliance Insurance Company, according to the Associated Press. The …
United Fire & Casualty Co. has chosen Ernst & Young LLP as its independent auditors, replacing Arthur Andersen LLP, according to a Dow Jones report. Concerns about Andersen’s continued availability in the auditing profession served as impetus for the company …
Jeremy Christian Brickner, 25, of Sacramento, was arrested and booked into the Sacramento County Jail on one count of insurance fraud. The arrest was the result of an investigation by the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud …
CoWest Insurance Group of Colorado has contracted with Asgard Group to provide security for its computer network. Asgard protects computer networks against intrusion from hackers and other unauthorized outside parties across the Internet. Asgard uses technology and security experience in …
Members of the California Insurance Wholesalers Association (CIWA) came together on June 19 at their Annual Meeting and Committee Day in Burbank. The association participated in the election of new officers for 2002-2003. Manfred Mundelius was re-elected for his second …
Two bills backed by the North Carolina Department of Insurance that would launch a reinsurance facility for coastal homeowners’ insurance would instead create a subsidy system in which inland policyholders will pay for the additional insurance premiums of expensive seaside …
Louisiana Retailers Mutual Insurance Company has earned a “B++” rating from A.M. Best Company. The rating reflects the company’s solid capitalization, historically sound operating performance, conservative investment portfolio and strong policyholder retention. A historically low loss ratio further reinforces the …
Texas attorney general candidates Kirk Watson, Democrat, and Greg Abbott, Republican, have each unveiled plans to address the state’s homeowners insurance market crisis. The Austin American Statesman reports that Abbott, a former Texas Supreme Court justice who now consults for …
Big “I” Markets, an online market-access program created by the Independent Insurance Agents & Brokers of America (IIABA), is now offering short and long-term event liability insurance that association members in 36 states and the District of Columbia can access. …
The U.S. property/casualty industry’s net income after taxes dropped 7.3 percent to $5.1 billion in first-quarter 2002 from $5.5 billion in first-quarter 2001, according to just released information from Insurance Services Office Inc. (ISO) and the National Association of Independent …
