IBA West submitted written testimony expressing strong opposition to the revised “Broker Fiduciary Duties” regulations proposed by California Insurance Commissioner John Garamendi. “While these regulations are less onerous in their revised form, they are still nonetheless an attempt by the …
A jury reached a partial verdict in the case involving the illegal takeover of failed insurer Executive Life Insurance Company on May 9, according to the Associated Press. The jury reached seven of eight verdicts, U.S. District Court Judge A. …
Authorities arrested four suspects May 6 after an extensive investigation into a workers’ comp and payroll tax fraud scheme, one in which the suspects allegedly underreported the payroll of its Saratoga firm by nearly $5 million. The suspects have been …
Police arrested 10 Thai nationals for their alleged participation in a car theft ring in California that resulted in millions of dollars in losses for insurance companies and car dealerships, according to the Associated Press. Malidar Uthainatapong and Naraporn Uthainatapong …
Former American Financial Group claims adjuster/litigation specialist Stephen Glenn Pirkey was arrested April 27 and charged with embezzling his employer out of more than $490,000 during his employment in the Los Angeles area office between 1998 and 2004. The arrest …
Insurance broker Robert Stephen Rice was arrested on seven felony counts of grand theft at his home in Thousand Oaks, California, by the CDI Fraud Division. The arrest is the result of an investigation by CDI. The Van Nuys District …
A Fullerton insurance claims adjuster and two accomplices were arrested April 8 by California Department of Insurance fraud investigators for their alleged participation in an auto insurance fraud scheme. According to investigators, Leonardo Davinci Hines was employed by Robert Moreno …
While liability premiums have stabilized, recruiting doctors to Nevada remains difficult because of six-figure annual medical insurance costs, board members of a doctor-owned insurance company told lawmakers recently. “Three years ago, we had no plans ever to be in the …
Two associations have responded to Commissioner John Garamendi’s recent accusations that the insurance industry’s rating practices are “blatantly discriminatory” and based on ethnicity. Garamendi’s comments recently appeared in an April 20 article in the Contra Costa Times. Representatives of the …
This is not a tsunami “watch.” This is a tsunami warning. The waves have already swept over the closest beaches, so we know they are coming. It’s too soon for casualty reports, but some mighty big places were hit very …
