Insurance Commissioner John Garamendi and the California Department of Insurance (CDI) filed a suit against State Compensation Insurance Fund (State Fund), California’s workers’ comp insurer of last resort, in a San Francisco Superior Court on April 6. According to the …
A father and son have pleaded guilty to diverting thousands of dollars in premiums from a South Florida insurance agency. John Pascale, former owner of AAA Turnpike Insurance Agency, pleaded guilty to one count each of grand theft and misappropriation …
ACE US International, a division of ACE USA, the U.S.-based retail operations of The ACE Group of Companies, announced that it has been selected as the exclusive provider of global programs and specialty insurance coverage to the more than 1,200 …
New Jersey Attorney General Peter Harvey announced that a former Middlesex County-based insurance company employee and her boyfriend have been charged by the Division of Criminal Justice -Office of Insurance Fraud Prosecutor with concocting an insurance fraud scheme that netted …
The New York State Court of Appeals has ruled that the state insurance commissioner does not have the authority to disapprove or modify rate increases or decreases on filings that are properly submitted under the state’s file-and-use statute. The decision …
The Mississippi House Insurance Committee heard testimony this week on a bill designed to reduce the minimum number of stacked vehicles on a driver’s uninsured and underinsured motorist coverage. S.B. 2788 would allow consumers to choose “non-stacking” uninsured motorist coverage …
The North Carolina Supreme Court has reaffirmed the constitutionality of the state’s law capping punitive damages, a decision that maintains the certainty and predictability of North Carolina’s judicial system, according to the American Insurance Association (AIA). AIA joined with the …
The Insurance Council of Texas presented $15,000 in scholarships this month to students at Baylor, the University of Texas at Austin and the University of North Texas. All of the students had excelled in insurance and risk management courses. “Every …
NAIW Dallas Inc. announced they are sponsoring NAIW’s newest education program—Cyber Crime: The Hidden Exclusions. The program was developed exclusively for NAIW, will take place May 28 in Dallas at the Wyndam Garden Hotel. NAIW Dallas said it is the …
While other insurers had a good year in 2003, Lloyd’s had a great one. The 300 year old insurance market projected 2003 profits on an annualized basis of $3.387 billion. On the old three-year system the 2003 underwriting year profit …
