Monthly Archives: <span>April 2005</span>

Ariz. Gov. Napolitano Signs Pro-Business Legislation

The Property Casualty Insurers Association of American (PCI) on Tuesday commended Arizona Gov. Janet Napolitano for signing into law legislation that will allow business owners an opportunity to lower their insurance costs. “This bill, HB 2192, will give businesses a …

Failure of Bills to Ban or Restrict Credit Scoring in Wash. Critical to State Ins. Marketplace, Says NAMIC

The failure of four bills introduced during the Washington State legislative session that would have banned or added further restrictions to the use of credit-based insurance scoring as an underwriting tool may send the message that the regulatory environment has …

La. DOI Takes Action Against Unauthorized Marine Insurance Sales

The Louisiana Department of Insurance reported it has ordered an insurance company and the association that sponsors it to cease all participation in the alleged writing of unauthorized insurance coverage in Louisiana. North American Marine General Insurance Company of Panama …

N.J. Agency Target of Fraud Investigation

Vaughn McKoy, director, New Jersey Division of Criminal Justice and Insurance Fraud Prosecutor Greta Gooden-Brown have issued an alert asking Cumberland County residents who may have purchased insurance through the Millville-based Bates General Insurance Agency in 2003 and 2004 to …

Zenith Announces First Quarter Results

Woodland Hills, Calif.-based Zenith National Insurance Corp. reported net income of $39.3 million, or $1.65 per share, for the first quarter of 2005 compared to net income of $25.1 million, or $1.09 per share, for the first quarter of 2004. …

U.S. Insurers Back Development of Disclosure Standards by International Association of Insurance Supervisors

A group of leading U.S. property/casualty and life insurance and reinsurance companies have reportedly endorsed the efforts of the International Association of Insurance Supervisors (IAIS) to develop high quality disclosure standards, including standards related to investment performance and risk assessment. …

Arthur J. Gallagher Reports Q1 Revenue Growth

Illinois-based Arthur J. Gallagher & Co. has reported its financial results for the quarter ended March 31, 2005. “Gallagher continues to do what it does best even in these challenging times — solve our clients’ risk management problems,” said J. …

Selective Insurance Group Sees GAAP Combined Ratio Improved to 95.1%

New Jersey-based Selective Insurance Group Inc. reported its financial results for the first quarter ended March 31, 2005. Compared with the first quarter of 2004: – Net income increased 31%, to $36.1 million, or $1.15 per diluted share; – Operating …

State Fund Assists Investigation of San Diego Chiropractor Sentenced for Workers’ Comp Fraud

A San Diego chiropractor — who was charged with billing State Compensation Insurance Fund for treatment that was not rendered to injured workers and over billed for services — was ordered to surrender her license for 18 months and placed …

State Farm Back in W.Va. Market; Will Write New Homeowners, Business Policies

State Farm Insurance has announced that as of May 1 it will begin accepting applications from West Virginia homeowners and businesses for new insurance policies. The company is the largest property and casualty insurer in West Virginia and in the …