S&P’s affirmed its “BBB-/A-3” counterparty credit rating on CNA Financial Corp. and its “A-” counterparty credit and financial strength ratings on CAN’s insurance subsidiaries after the senior debt rating on Loews Corp., which owns 90 percent of CNA, was placed …
A.M. Best Co. affirmed “A” (Excellent) the financial strength ratings of the pool members of the Fireman’s Fund Insurance Companies (FFIC). The ratings are being removed from under review and the outlook remains negative. FFIC is a wholly-owned subsidiary of …
S&P’s revised its outlook on Markel Corp., Markel International Insurance Co. Ltd., and Markel’s U.S. insurance subsidiaries to positive from stable because of the historically strong underwriting results of Markel’s U.S. insurance operations, the company’s position as a leading writer …
An investigation by CDI’s Fraud Division resulted in the arrest of Kenneth Michael Stockton, 33, of Modesto, Calif. According to investigators, Stockton allegedly injured his back while working for Trans-Box Systems on Jan. 28, 1993 and settled a claim in …
Lawrence Babb, 35, Kristina Hermanson, 27, Erin Bowers, 32, and Kenneth Montalvo, 42, were arrested and charged with felony counts of insurance fraud, grand theft, conspiracy, and money laundering in the San Francisco area. Twenty-four claims with CSAA, Allstate, and …
The Los Angeles County Auto Insurance Fraud Task Force arrested more than a dozen suspects and served search warrants at 18 locations throughout the Glendale, Calif. area, including medical clinics, law offices and private residents in connection with an insurance …
Charles Kavalaris, 58, of San Jose, Calif. and Rene Fernando, 50, of Danville, were arraigned on a consolidated multiple-count criminal complaint listing Unlawful Insurance Claim Referrals, Grand Theft, Conspiracy, and Money Laundering. The two attorneys surrendered to authorities on Nov. …
Tamane Jamar Johnson, 29, was charged with one felony count of insurance fraud. If convicted, Johnson could face up to five years in state prison and a maximum fine of $50,000. Bail was set at $10,000. According to investigators, Johnson …
Tammy Sue Shouse, 39, of Fresno, Calif., was arrested by California Department of Insurance (CDI) investigators on three felony counts of forgery. A search warrant was also executed by investigators and during the search, additional evidence of two or more …
Six men were accused of insurance fraud and criminal charges were filed in San Francisco. Suspects Damien Fukushima, 24, Kenneth Yeung, 22, Jeffrey Ng,21, Christopher Chang, 21, Ryan Won, 22, and Steven Chi, 23, were charged with felony counts of …
