John Lee Sullivan, 50, of Applegate, Calif. and Debra Michell Sprigg, 42, of Sacramento were arrested and charged with two counts of felony insurance fraud. According to California Department of Insurance Criminal Investigations Branch’s Fraud Division investigators, Sprigg’s pickup truck …
The House has passed a measure to limit the pain-and-suffering damages that juries may award in medical malpractice suits as lawmakers seached for a means to quell increasing malpractice insurance rates, according to the Associated Press. The 217-203 vote came …
The Professional Insurance Agents of Connecticut Inc. (PIACT) announced details of its 2003 annual convention. The convention will be held March 18-19 at Foxwoods Resort Casino in Mashantucket, Conn. The two-day conference will allow individuals to earn continuing education credits, …
Alleghany Corporation of New York City announced it has named Weston Hicks as executive vice president effective Oct. 7. Hicks has extensive experience as a senior executive, capital manager and research analyst in the insurance and investment industries. He joins …
A survey conducted by the Pennsylvania Orthopaedic Society of its member physicians indicates that medical malpractice insurance coverage is getting harder to obtain as rates continue to increase. According to the Pittsburgh Post-Gazette, survey respondents reported that reforms passed by …
Columbus Ohio-based Nationwide announced the election of Edwin P. McCausland Jr., CFA, as the company’s chief investment officer. “McCausland joined Nationwide in 1997 and most recently served as senior vice president, fixed income securities and acting chief investment officer,” said …
It may have been downgraded to a “Tropical Depression” by the National Hurricane Center, but Isidore has nonetheless brought heavy rains and created flood conditions to much of the Eastern U.S. After its first came ashore along the Louisiana Gulf …
Zurich Financial Services (ZFS) announced that it has sold its direct interest in Endurance Specialty Insurance Ltd. to the company’s Bermuda-based holding company for $100 million. ZFS and Aon Corp. founded Endurance late last year in the wake of the …
A.M. Best announced that it has affirmed the “A (Excellent)” financial strength rating of France’s SCOR Group with a stable outlook. “The affirmation reflects SCOR’s maintenance of excellent consolidated capital, its high profile brand, well diversified reinsurance account, and expected …
Hiscox plc shareholders, with one notable exception, approved the company’s plan to issue up to 96.4 million new shares through a rights offering aimed at raising an additional £110.5 million ($171 million) to increase its capacity. Although Chairman Robert Hiscox …
