Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales declined by 3.7 percent during the period to …
A.M. Best Co. announced that it has affirmed the “A+” (Superior) financial strength rating and assigned an issuer credit rating (ICR) of “aa” to Japan’s Mitsui Sumitomo Insurance Company Ltd. (MSI) with a stable outlook. “The ratings reflect MSI’s strong …
The Bermuda-based PXRE Group Ltd. reported a net loss before convertible preferred share dividends of $446.5 million for the quarter ended December 31, 2005 compared to net income before convertible preferred share dividends of $32.8 million in the fourth quarter …
The roof of a wholesale market in Moscow collapsed early Thursday morning, Feb. 23, killing at least 18 people and injuring 24 more. An unknown number of people were trapped in the fallen debris. Rescue workers are combing the remains …
California Insurance Commissioner John Garamendi has announced the conviction of former life insurance agent Bassem Btadini, 51, also known as Bob Btadini. Btadini entered a no contest plea and was convicted of five misdemeanor counts of Corporations Code Section 25540(a), …
California Insurance Commissioner John Garamendi has issued a cease and desist (C&D) order on The Global Healings Society of Puyallup, Wash., following an investigation by the California Department of Insurance (CDI) Investigation Division. The order demands The Global Healings Society …
Wyoming legislation designed to allow unprecedented insurance-related lawsuits in the state would significantly increase fraud, lawsuits and insurance costs for Wyoming consumers, according to the Property Casualty Insurers Association of America (PCI). This bill, SB 68 by Sen. Hank Coe, …
California Insurance Commissioner John Garamendi has announced that on Feb. 9, 2006, attorney Marilyn P. McCumber, 68, self-surrendered to the Los Angeles County Superior Court. She pled guilty to felony grand theft for insurance fraud and was sentenced to five …
A 34-year-old Worcester, N.Y. farm owner has been arraigned on criminal charges in connection with an April 2003 fire that killed 24 cows. Peter Mravlja was charged with arson, insurance fraud and witness tampering following a nearly three-year investigation local …
Former Louisiana Insurance Commissioner Jim Brown has had an interesting last few years to say the least. Brown was sent to a federal prison for six months back in 2003 after a trial for reportedly lying to an FBI agent. …
