Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch arrested two local insurance agents for selling bogus insurance policies. Jouly R. Kassis, 20, and Mike George Denno, 24, co-owners of Low Cost Auto Insurance Services, were arrested and …
The Employee Benefits Division of ABD Insurance and Financial Services, a provider of global risk management and employee benefits solutions, announces the recent acquisition of two prestigious employee benefits firms, Rothman Marks Inc. of Los Angeles, and Peter Haft Insurance …
SAFECO is rolling out a substantially reengineered Business Owners Program (BOP) product line that promises broader coverage, more classifications and more competitive pricing on larger risks. It’s powered by E*S*P, an innovative strategy that changes the way business insurance is …
The state of Florida and Florida Farm Bureau Insurance Companies worked out an agreement concerning guidelines on coverage for mold in homeowners policies. According to United Press International, the detailed guidelines apply only to Florida Farm Bureau policies. Under the …
Officials with the West Virginia Workers’ Compensation division revealed plans reduce their operating expenses by $125 million to $136 million. According to the Charleston Daily Mail, the agency also intends to seek at least short- term increases in the premium …
The Third Court of Appeals in Austin, Texas found that Farmers Insurance Group had both acted in bad faith and violated the state’s deceptive trade practices law in the landmark case that originally saddled the company with a $32 million …
During a visit to the Rio Grande Valley, Texas Governor Rick Perry announced plans to declare medical malpractice reform an emergency issue when the 78th Texas Legislature convenes in January. He has previously said that homeowners insurance reform will be …
New York Superintendent of Insurance Gregory Serio announced that the state insurance department has finished its first full year of online licensing for agents and brokers for license renewals and new applicants. The licensing reforms that have been instituted allow …
The U.S. Treasury Department’s second set of guidelines to aid insurers in complying with the Federal Terrorism Risk Insurance Act, issued Dec. 18, addresses insurer participation in general, scope of coverage, issues regarding different categories of insurers and additional disclosure …
New York Superintendent of Insurance Gregory Serio announced that Ernest Varacalli, 58, was sentenced Monday to 10 years in prison and 3 years probation and ordered to pay nearly $1 million in restitution to insurance companies for running a Brooklyn …
