The Texas Senate approved a plan to overhaul the state’s workers’ compensation system and the bill awaits the signature of Gov. Rick Perry. The plan provides for an increase in income benefits to injured workers and abolishes the Texas Workers’ …
The Louisiana Department of Insurance reported its investigators, accompanied by law enforcement, recently shut down a Lake Charles producer, who was charged with alleged misappropriation of funds. It was the fourth time in five days that the department had served …
New York Superintendent of Insurance Howard Mills has urged the state legislature to extend the deadline to give Broome County homeowners whose properties were damaged in last month’s floods more time to file for reassessments. The measure before lawmakers would …
The Arkansas Insurance Department announced that a portion of the Arkansas Insurance Code addressing education hours for applicants for Arkansas licenses to be an insurance agent, broker or producer has been amended. Arkansas Code §23-64-202(b)(2)(A)(iii) was amended as a result …
Intendant Holding Corporation of Vedra Beach, Fla. has received a license from the Florida Department of Financial Services for its insurance services subsidiary King’s Bay Insurance Services Inc., to operate as a managing general agency. KBIS, along with King’s Bay …
Chicago-based wholesaler AVRECO recently announced a new medical liability insurance market for borderline nonstandard physicians and surgeons. The program is geared toward doctors “headed for the standard market” but who aren’t quite there yet, according to AVRECO. While AVRECO is …
Matthew Carletti has joined Chicago-based insurance industry investment banker Cochran, Caronia & Co. as a vice president. Carletti will cover the property/casualty insurance sector for Cochran, Caronia’s research unit. The unit aims to provide unbiased information and analysis to the …
In 2005, ACUITY’s Best Rating has again been reaffirmed as “A+” and A.M. Best considers them “superior” for capital strength. A.M. Best, the insurance industry’s largest and longest-established independent rating organization, evaluates carriers worldwide. According to A.M. Best, ACUITY’s rating …
Chicago-based SPSS recently unveiled a new software product it said will reduce insurance fraud, significantly improve the claims process and cut costs. SPSS’ PredictiveClaims, an application based on real-time predictive analytic technology, integrates with existing claims-management systems to instantly determine …
The first major overhaul of Illinois’ workers’ compensation system in nearly two decades was headed to the governor’s desk Friday night. The reforms, a compromise between business and labor groups, would increase benefits to injured workers while restricting medical expenses. …
