S&P assigned its “A” financial strength rating to Sheffield Insurance Corp., a writer of specialty insurance, based on its integration into the business plan of its parent, experienced management, appropriate reinsurance and capital, and financial profile. Also affirmed were the …
A.M. Best Co. downgraded the financial strength rating to “A” (Excellent) from “A+” (Superior) of the Gulf Insurance Group. The rating outlook is stable. The action reflects the group’s underwriting deterioration, increased earnings volatility over the past several years and …
A.M. Best Co. affirmed the financial strength rating of “A” (Excellent) of Portland, Ore.-based Standard Insurance Co., a wholly-owned subsidiary of StanCorp Financial Group Inc. Concurrently, A.M. Best affirmed the senior debt rating of “bbb+” on the $250 million 6.88 …
With national and state efforts at altering medical liability rules once again failing to hurdle the predictable political roadblocks and the commercial insurance marketplace struggling to provide the coverages so many long-term care (LTC) facilities require at a price they …
In our continuing column on employee benefits, Insurance Journal senior writer Dave Thomas recently spoke with John Nelson, vice president of California-based Warner Pacific Insurance Services. John’s responses are based primarily on his experiences in the California small group marketplace. …
Gwendolyn Henson, 40, of Montclair, Calif., pled guilty to insurance fraud charges and was sentenced to 180 days in jail and three years of formal probation. CDI fraud investigators arrested Henson for the felony insurance fraud charge and a notice …
CDI Fraud Division investigators, with the assistance of the Glendale Police Department, arrested Robert Galante, 45, of Simi Valley, on a felony warrant charging him with two counts of workers’ comp fraud. If convicted, Galante could face up to five …
Investigators with CDI Investigations Branch arrested Juvencio Salazar, 38, of Fresno, on June 17 on a $5,000 felony warrant. Salazar is charged with a single count of insurance fraud and could face up to five years in prison and a …
Two former Alameda County construction businessmen, Jay Neal Wright, 50, and his son, Jay Neal Wright II, 29, both of Phoenix, were indicted by the Alameda County Grand Jury on multiple felony counts including workers’ comp insurance fraud, corporate tax …
Ron Stahr, 40, of Hawthorne, Calif., and Michele Morlet, 24, of Whittier, Calif., surrendered themselves to CDI investigators in Los Angeles on arrest warrants which charged them with filing false insurance claims. In the fall of 2001, Morlet and Stahr …
