Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division announced the arrest of Mike I. Masarweh, 36, owner of All Pro Mechanicx, a San Francisco auto repair facility. Also arrested was Bobby J. Nelson Jr., 36, …
Brown & Brown Inc. and MFC&V Insurance Services, with offices in Santa Barbara, Lompoc and Camarillo, Calif., announced the finalization of their previously announced acquisition transaction, providing for Brown & Brown Inc. to acquire the assets of MFC&V Insurance Services. …
The radical pro-insurance agenda of tort reform set forth by the Bush administration only benefits big insurance interests and, in its current form, will not serve to benefit small business, doctors or the average citizen, according to Policyholders of America …
Standard & Poor’s has lowered its counterparty credit and financial strength ratings on ARI Mutual Insurance Co. (ARIM) and its affiliate, ARI Casualty Co. (ARIC), to ‘Bpi’ from ‘BBpi’. ARIC operates under a reinsurance pooling arrangement. “The rating actions reflect …
Cobalt Corporation announced that it has acquired Claim Management Services, Inc. (CMS), a third party administrator for self-funded employee benefit plans, based in Green Bay, Wis. from West Bend Mutual Insurance Company. CMS administers benefit plans for approximately 220,000 members …
The National Association of Mutual Insurance Companies strongly supported the right of insurers to use credit information in making underwriting and rating decisions, in testimony before an Ohio Department of Insurance hearing Monday in Columbus. “Credit-based insurance scoring has been …
Following the announcement that the billion dollar surety case between JP Morgan Chase and 11 insurance companies over Enron related transactions had been settled, both The St. Paul and CNA issued statements indicating that they expected their portion of the …
According to a report from Dow Jones Newswires, Prudential Financial’s negotiations to buy controlling stakes in Hyundai Group’s financial affiliates, Hyundai Investment Trust & Securities Co., Hyundai Investment Management Co. and Hyundai Securities Co., appears unlikely to succeed. Prudential’s attempt …
Despite every precaution they’ve taken and warnings they’ve put in place, British, French and Belgian maritime authorities were trying to figure out how the Vicky, a Turkish oil tanker, carrying 70,000 tons of kerosene, ran into the sunken hull of …
France’s AXA Group, has decided to tacitly back Credit Agricole’s acquisition of Credit Lyonnais (CL) by offering to sell its 5.3% stake, conditioned, however, upon there being no rival bid from BNP Paribas, which holds around 16 percent of CL’s …
