U.S.I. Holdings Corporation announced that Robert Nesbit has been appointed to the position of Senior Vice President & Chief Human Resources Officer. He will be based in USI’s corporate office in Briarcliff Manor, N.Y. and will report to Bob Schneider, …
The Injured Workers Insurance Fund (IWIF), Maryland’s largest workers’ compensation writer, noted that Terry Hedges of Baldwin, Md. was found guilty of insurance fraud against IWIF and was sentenced to one year in Baltimore County Detention Center with all but …
The American Insurance Association joined other groups in commending the New Jersey Supreme Court’s decision in Cavigilia v. Royal Tours of America upholding the state’s “no pay/no-play” statutory provision against various constitutional challenges. (See lead story above for further details) …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to the London-based company of the Steamship Mutual Underwriting Association Limited, with a negative outlook. “The rating reflects the strategic role that Steamship London plays …
Jean Peyrelevade, the former CEO of French bank Credit Lyonnais, has appealed the sanctions leveled against him by the U.S. Federal Reserve Bank as a result of his criminal indictment in the Executive Life case. Federal prosecutors in Los Angeles …
Zurich Financial Services (ZFS) has rebounded strongly. After its disastrous $3.4 billion loss in 2002, the company reported net earnings of $2.1 billion for 2003, a return on equity of 12.5 percent. Other highlights cited by the company’s news bulletin …
Duarte, Calif.-based City of Hope, a world-renowned research and treatment center for cancer and other life-threatening diseases, announced the appointment of Philip L. Engel, former president of Chicago-based CNA Insurance Companies to chairman of the board of directors. A widely …
A bill aimed at protecting consumers that passed last session by the Michigan Senate is “fatally flawed” and has the potential to disrupt core business functions in the state by guarding the use of Social Security numbers (SSNs), according to …
California State Controller Steve Westly announced the Controller’s Office collected $67 million in unclaimed insurance company stock and cash proceeds belonging to countless Californians. Beginning immediately, Californians who held policies in the MetLife insurance companies that converted to shareholder entities …
The New Jersey Supreme Court on Thursday unanimously reversed an appellate court decision by upholding a state law that bars the right of an uninsured motorist to sue for noneconomic damages resulting from an injury from an automobile accident. “Today’s …
