Vesta Insurance Group and its Shelby Casualty Insurance Company of Birmingham, Ala. have sold the renewal rights for Shelby’s automobile, homeowners and dwellings insurance business in Pennsylvania, Tennessee and Alabama to the Donegal Group and its affiliate Donegal Mutual Insurance …
As Hurricane Rita approaches the Texas coast, the Texas Department of Insurance issued several bulletins to the insurance industry. Bulletins are signed by the insurance commissioner and notify the industry of the department’s expectations regarding insurers’ conduct during the disaster …
Nationwide Mutual Insurance Co., the country’s seventh-largest property and casualty insurance company, has claims representatives and agents prepared to assist customers as Rita makes landfall this week. The insurer also is placing automated phone calls to policyholders in the storm’s …
ACE Ltd. said it has resolved a lawsuit brought by the Connecticut attorney general, and will pay $40,000 in exchange for a release of Connecticut’s claims and a withdrawal of the lawsuit, according to Reuters. The claims related to certain …
RLI Corp. announced an estimated range of pretax losses from Hurricane Katrina of $15 million to $19 million, net of reinsurance ($0.37 to $0.47 per diluted share, after tax). This is based on projections by the company’s catastrophe management systems …
The Independent Insurance Agents of San Antonio reported that Gregory A. Stevens was recently installed as the 84th president of the association. Stevens is president of Texas Insurance Division of Compass Insurance Agency Inc., responsible for operation of the San …
A man in McKees Rocks, Pa., was indicted by a federal grand jury this week on charges of embezzling $400,000 from an insurance company and using the money to buy sports cards, sports memorabilia and vehicles. Richard Slonchka, 55, a …
GlaxoSmithKline PLC will pay $150 million to settle claims it overcharged the government for two anti-nausea drugs, and prosecutors say they’re looking into 150 cases of drug price fraud. The Glaxo settlement is the latest in a series of whistleblower …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) of Wawanesa Mutual Insurance Company (WMIC) (Winnipeg), including its branch, The Wawanesa Mutual Insurance Company, (United States Branch) (San Diego, Calif.). In addition, A.M. Best has affirmed …
The Workers’ Compensation Research Institute reported that Arkansas’ workers’ compensation system has experienced a period of stability after extensive reforms were passed in 1993, but maintained that some concerns still remain. According to a recent report published by WCRI, some …
