Kevin T. Brough, a Kaysville, Utah resident, was charged with 20 felonies as a consequence of an investigation by the Utah Insurance Department’s Fraud Division. Brough, a Farmers Insurance agent, pleaded guilty to three felony counts of: Unlawful Dealing of …
Newark, Calif. based-Risk Management Solutions (RMS) announced the release of version 3.3 of its Climetrix(TM) weather derivatives trading and risk management system with several enhancements to pricing and portfolio management functionality. The principal feature of the new version of Climetrix …
A.M. Best Co. has lowered the financial strength rating to A+ (Superior) from A++ (Superior) of Bermuda-based Top Layer Reinsurance Ltd. and maintained a stable outlook on the company. The lowering of this rating is a result of the rating …
Hub International Limited announced that Kaye Insurance Associates, Inc. (KIA), the major retail brokerage unit of the company’s New York hub, Kaye Group Inc. (KGI), purchased the assets of Waldron Mahoney Inc. (Waldron), a Manhattan-based broker specializing in insurance for …
Two significant insurance-related bills are up for hearing this week in the New Hampshire House Commerce Committee. “These two bills couldn’t be more contradictory,” Gerald Zimmerman, senior counsel for the National Association of Independent Insurers (NAII), said. “One would vastly …
New York Superintendent Gregory Serio along with the Broome County Bureau of Fire Investigation and the Deposit Police Department announced the arrest of George S. Cushner, Jr. Cushner, the owner of Sweets and East Bake Shoppe was arrested for alleged …
The insurance producer license of David C. Bova of Bloomington, Ill., has been revoked by the state’s Department of Insurance. Bova, licensed since Nov. 12, 1997, to sell life, accident and health, and fire and casualty insurance, was investigated for …
Calif. Insurance Commissioner John Garamendi held a press conference March 3 addressing the workers’ compensation crisis in California. Specifically, Garamendi proposed a seven point plan to return State Compensation Insurance Fund to a state of financial stability. Below is the …
A.M. Best Co. has lowered the financial strength rating to B (Fair) from B+ (Very Good) of the participants in the Kemper Insurance Companies (Long Grove, Ill.) inter-company pool, 10 reinsured affiliates and one domestic affiliate. The rating remains under …
The Lumbermens Mutal Casualty Co., the largest subsidiary of Chicago-based Kemper Insurance Cos., has reported a $205 million loss for 2002 with the Illinois Department of Insurance, a Kemper spokesperson has confirmed. Kemper would not comment on the loss, but …
