New York State Insurance Department Superintendent Gregory V. Serio announced the arrest of Ted F. Cook, 50, a former insurance agent formerly employed by Legend Equities Corporation on charges of fraud and grand larceny for allegedly stealing investment money from …
The Erie Insurance Group announced that it has received loss notification from approximately 6,600 policyholders as a result of severe ice, snow and flooding Feb. 14-18 and Feb. 21-23, 2003. It gave preliminary loss estimates of around $25 million. “Erie …
Monte Dei Paschi, Italy’s fifth largest bank, has acquired a 3.1 percent stake in Assicurazioni Generali, the country’s largest insurer, for an estimated 798 million Euros ($877 million), based on the insurer’s current share price. According to a report from …
FINEOS Corporation, a leading innovator of banking and insurance software, announced that Delta Lloyd NV, a member of the U.K.-based AVIVA plc international insurance group (formerly CGNU plc), has gone live with its P&C insurance claims management system, “FINEOS Claims …
Fortis, the Belgian-Dutch financial services group, acknowledged that 2002 had been a difficult year with net profits dropping from 2.6 billion Euros ($2.86 billion) in 2001 to 532 million ($585 million) last year. CEO Anton van Rossum, nevertheless pledged to …
The Iowa Insurance Division (IID) has entered a consent order against Sandra Daugherty of Madrid after she was charged in Story County District Court with three counts of criminal misconduct. Daugherty, who served as office manager for the Severson Insurance …
Four Illinois insurance trade groups will host a day-long meet-and-greet for insurance professionals and state legislators in Springfield March 18. The event, “Insurance Industry Legislative Day,” is an annual event organized by the Professional Independent Insurance Agents of Illinois, Illinois …
AMS Services Inc. and the Specialty Human Services Division of Cincinnati-based Great American Insurance Group have completed Great American’s Insurance Program for Social Service Agencies and Nonprofit Organizations in PS4 Plus (version 2.5). The first release is designed to give …
EMC Insurance Group Inc. (EMCI) restated its fourth-quarter and full-year 2002 earnings lower to reflect a $2.1 million reserve hike for direct asbestos exposures. The Des Moines, Iowa-based insurer now says it earned $5.2 million, or 45 cents a share, …
On Jan. 17, 2003, Calif.’s Workers’ Compensation Insurance Rating Bureau’s (WCIRB) Governing Committee authorized the WCIRB to pursue the development of estimates of potential workers’ compensation terrorism losses for California. To complete the study, the WCIRB contracted with EQECAT, a …
