Rumors of a possible takeover of Zurich Financial by U.S. insurance juggernaut American International Group (AIG) gained steam as the Swiss concern’s stock rose sharply last week. According to Reuters, speculative buying drove Zurich’s stock price up as speculation over …
Farmers Insurance Company’s troubles in Texas mounted with an August 13 emergency cease and desist order issued against Farmers by the Texas Department of Insurance in an effort to “stop unfair pricing practices” by the company. Farmers responded by directing …
The new medical fee guideline approved by the Texas Workers’ Compensation Commission (TWCC) last spring and scheduled to go into effect September 1 was recently stayed by a Travis County judge as part of a lawsuit filed against TWCC by …
When the Sept. 10, 2001 issue of the Insurance Journal carried Demotech’s predictions on the maximum number of insolvencies that would occur in the property and casualty insurance industry over the period Jan. 1, 2002 through Dec. 31, 2002, who …
An Orange County man was arrested at his Westminster home on 19 felony counts of insurance fraud. On Feb. 1, 2001, Nasir Husain, 59, allegedly informed his supervisor at Johnson Controls Inc. that while working on an air conditioner at …
Kenneth W. Fitzwater, 46, of Citrus Heights, Calif., was arrested at his residence on five counts of insurance fraud. According to CDI investigators, Fitzwater was injured when he fell from a ladder while working for Sacramento City Electric on Feb. …
Emmanuel Benavides Torres, 25, and Oscar Gomez Martinez, 26, were arrested on insurance fraud and arson charges. According to the CDI Criminal Investigations Branch’s Fraud Division, a Suspected Fraudulent Claim Referral was received from Geico Insurance Company, initiating an investigation. …
A Vacaville, California Police Department dispatcher was charged with three counts of felony insurance fraud. Lenette Weishaar, 42, of Vallejo, Calif. allegedly injured her lower back on Oct. 26, 1994, when she slipped and fell in a hallway at work. …
The death of a roofing company employee has resulted in the arrest of four Bay area residents on multiple felony counts including manslaughter, insurance premium fraud, unemployment insurance tax violations, labor code safety violations, and revenue and tax code violations. …
The CDI issued a Cease and Desist Order on New Life Christian Care Society Inc. ordering the Society to cease and desist transacting any and all insurance business in California. According to the CDI, the Garden Valley, Calif.-based Society is …
