John J. Amore, chief executive officer general insurance of Zurich Financial Services Group, has been named the new chairman of the board of directors of the American Insurance Association. Michael S. McGavick, president and chief executive officer of Safeco Corporation, …
Connecticut officials are alarmed at the high recidivism rate of aggressive drivers forced to attend traffic offender school. Nearly 42 percent of the 77,000 motorists who attended driver retraining between 2001 and 2003 were sent back to the program after …
A Chubb Insurance subsidiary that provided liability for the executives of Tyco International must pay the legal bills of that company’s former chief executive officer, L. Dennis Kozlowski, who is on trial charged with corporate fraud. The New York Supreme …
South Carolina Insurance Co., part of the Columbia-based Seibels Bruce family, has been declared insolvent by state insurance regulators and will be liquidated. The company and its subsidiary, Consolidated American Insurance Co., will be closed by a court-appointed receiver called …
Preliminary data released by Citizen’s Property Insurance Corp., Florida’s insurer of last resort, indicates the company racked up a $527 million deficit in its windstorm account in 2004. Citizens officials said a comprehensive audit won’t be released until mid-April. The …
Jason M. Funk, the 27-year-old murderer of Tampa, Fla. insurance adjuster Katrina Anne Froeschle, pleaded guilty in a Hillsborough County courtroom. Funk avoided a possible death sentence and pleaded guilty to murder and several other crimes. A judge sentenced him …
French reinsurer SCOR Group returned to profitability in 2004 posting net income of 68.7 million euros ($89.4 million) on gross written premiums of 2.528 billion euros ($3.29 billion). The group posted a 314 million euro ($408.5 million) loss in 2003. …
Standard & Poor’s Ratings Services indicated that its ratings and outlook on French reinsurer SCOR and its guaranteed subsidiaries – currently “BBB+” with a positive outlook – would not be affected by the company’s earnings announcement for the financial year …
According to figures recently issued Association of British Insurers (ABI), the “net is tightening” on the U.K.’s insurance cheats. The figures show a “dramatic rise in the value of fraudulent insurance claims being detected by insurers, with dishonest claims totaling …
According to news reports, from the Associated Press, Reuters and other sources, Germany’s Cartel Office has levied fines totaling 130 million euros ($170 million) against 10 companies charged with having colluded to increase industrial insurance premiums on general insurance and …
