Attorney General Bill Lockyer announced he has launched a formal investigation into possible antitrust violations and fraud by insurance companies and brokers, and said the probe’s initial focus will be on bid-rigging and other anti-competitive conduct in the industry. “California’s …
Robert Damon-Aspen has been jailed for two and a half years for deception conducted through his internet-based insurance intermediary business CFT Group Insurance Services. He reportedly used the Internet to take premiums from more than 5,000 clients without obtaining cover …
A Leominster, Massachusetts man and his son-in-law were sentenced this week in federal court to terms of imprisonment for their roles in a Worcester temporary employment agency fraud scheme. United States Attorney Michael Sullivan; Joseph Galasso, Special Agent in Charge …
First Advantage Corp., a risk mitigation and business solutions provider, and IVANS Inc., have entered into an agreement to deliver motor vehicle records through IVANS insurance agent interface platform, Transformation Station. Transformation Station uses Web services and ACORD XML to …
Florida Commissioner of Insurance Regulation Kevin McCarty, this week, disapproved the latest workers’ compensation rate filing because the decrease in rates was reportedly not enough. McCarty ordered the National Council on Compensation Insurance (NCCI) to re-file rates that reflect a …
Risk Management Solutions (RMS) announced the launch of RiskLink and RiskBrowser 4.5, the latest versions of its catastrophe modeling systems. The upgraded systems include new underwriting capabilities, expanded accumulation management functionality, and the addition of new models for Belgium flood, …
The Alabama Department of Insurance is interviewing brokers and companies that are tied to entities that have attracted the attention of prosecutors in New York and other states. “There have been serious allegations of criminal conduct involving some of the …
San Antonio, Texas-based Argonaut Group Inc. reported third quarter net income dropped by 62 percent, largely as a result of the four hurricanes that hit Florida in late summer. Gross written premiums for third quarter 2004 were $261.5 million, an …
The current investigations of the insurance industry emphasize the need for stricter adherence to ethical market conduct standards, Brian Atchinson, executive director of the Insurance Marketplace Standards Association (IMSA), told the annual meeting of the National Organization of Life and …
Pennsylvania Attorney General Jerry Pappert has filed a civil lawsuit in Commonwealth Court accusing 16 defendants of engaging in an elaborate statewide living trust sales scheme, that deceived older Pennsylvanians into purchasing revocable living trusts, long-term annuities or charitable gift …
