Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch announced these recent developments in insurance fraud cases: ·Preliminary hearing decision of the San Diego Superior Court case of Carmen John Palmieri, who allegedly defrauded 120 senior citizen investors …
Standard & Poor’s has revised its financial strength rating on Casualty Reciprocal Exchange (CRE) and Equity Mutual Insurance Co. (EMI) to ‘R’ from ‘CCCpi’ after a county court judge placed the two Kansas City-based insurers into receivership. The ruling makes …
The consumer group Texas Watch unveiled a new Web site designed to help consumers participate in the legislative debate on insurance reform. Through the Web site at www.fixtexasinsurance.org, the group will provide insurance reform proposals, tips and tools to contact …
HCC Insurance Holdings Inc. announced the appointment of two senior executives at its corporate headquarters in Houston, Texas. Tony Feasey, who is currently senior vice president responsible for the company’s insurance company subsidiary Houston Casualty Company’s Wakefield, Massachusetts branch office, …
Acting Louisiana Commissioner of Insurance Robert Wooley announced that State Farm will issue new information to Louisiana policyholders clarifying the company’s prior notice on mold and fungus claims. Over the past several months, State Farm has mailed notices to all …
First Floridian Auto and Home Insurance Company of Tampa now offers Identity Fraud Expense Coverage in Florida. According to the company First Floridian homeowners and tenants policyholders can be covered for expenses related to clearing their name and financial records …
As part of its strategy to provide independent agents with easy access to high-quality products and services through the internet, Zurich North America Small Business announced the formation of a cross-selling alliance with Foremost Insurance Company. Part of the Farmers …
The Netherlands ING Groep N.V. announced that it has appointed Jacques Kemp as chief executive for the Asia-Pacific region, succeeding Phil Shirriff who is retiring from the post at the end of March. “Kemp joined the executive committee of ING …
A.M. Best Co. announced that it has lowered the financial strength ratings of Allianz Suisse Versicherungs-Gesellschaft and Allianz Suisse Lebensversicherungs-Gesellschaft- both referred to as Allianz Suisse -to A+ (Superior) from A++ (Superior), and has removed its under review status with …
In an unusual preliminary announcement Credit Suisse indicated that its losses for 2002 could reach SFr 3.4 billion ($2.48 billion) while fourth quarter losses might be as high as SFr. 1 billion ($730 million). It will present its official results …
