A report from Dow Jones Newswires indicates that India’s Insurance Regulatory and Development Authority has recommended that the government raise the foreign direct investment limit in the insurance sector to 49 percent from 26 percent. The report notes that in …
Zurich Financial Services announced that the Board of Directors will propose to the 2006 Annual General Meeting of shareholders on April 20 the election of Donald T. Nicolaisen, 61, to the Board of Directors. Nicolaisen recently retired as Chief Accountant …
A.M. Best Co. announced that it has affirmed the Best’s Syndicate Rating of A (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382 with a stable outlook. “Syndicate 382’s ratings reflect its strong financial performance and …
Oregon’s Construction Claims Task Force (CCTF) has designated a single private insurer to provide liability insurance coverage for the entire construction industry. That decision is worrisome, according to the National Association of Mutual Insurance Companies (NAMIC). “A competitive commercial liability …
The head of the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) has reported that President George W. Bush has declared a major disaster exists in Alaska and ordered federal aid to supplement state and local recovery efforts …
An insurance broker-agent has been arraigned in Los Angeles County Superior Court on two felony counts of financial elder abuse and four felony counts of grand theft following a two-year investigation by the California Department of Insurance (CDI) Investigation Division. …
A Brentwood, Calif., physician who pleaded no contest to fraud charges in three separate cases was sentenced to an eight-year prison term and ordered to pay his victims $5 million, the District Attorney’s office announced. Deputy District Attorney Albert MacKenzie …
A licensed general contractor and owner of a Marin County, Calif., roofing company has pled guilty to workers’ compensation insurance premium fraud, unemployment insurance fraud and filing false income tax returns–potentially costing up to $1.4 million in combined losses. An …
Insurance agents and agencies who provided personal information regarding potential or actual insureds to ChoicePoint Services Inc. between Jan. 1 1997, and Aug. 9, 2005, may be entitled to money and other benefits as a result of a proposed settlement …
Insurance companies have filed a lawsuit against California Insurance Commissioner John Garamendi, challenging what they called “underground regulations” that would boost the cost of disability insurance. “Left unchallenged, the commissioner’s actions would drive the cost of disability insurance beyond the …
