Ponce D. Moody, 53, of Raleigh, N.C. was arrested on charges of embezzlement by an insurance agent according to Insurance Commissioner Jim Long. Moody allegedly pocketed more than $8,300 in collected insurance premiums that should have been remitted to insurance …
In response to unmet capacity needs created by the devastating natural disasters of 2005, International Catastrophe Insurance Managers, LLC (ICAT), and National Fire and Marine Insurance Company (Berkshire Hathaway Group) have launched a new catastrophic coverage product for commercial special …
The Florida Cabinet gave its approval today for the Office of Insurance Regulation to conduct a public hearing to allow public input for a rule prohibiting discrimination by life insurers based on a person’s past or future travel plans. The …
A U.S. House panel has given its approval to a bill directed at making the government’s flood insurance program financially sound by, in part, increasing rates charged on nonresidential property and vacation homes, according to a Reuters report. The legislation, …
Des Moines, Iowa-based The Principal Financial Group will appoint Michael T. Dan to the company’s Board of Directors at its May 15-16, 2006 meeting. Currently Dan is chairman, president and chief executive officer of The Brink’s Company. Prior to joining …
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and assigned an issuer credit rating of “aa-” to Hang Seng Insurance Company Limited (Hang Seng Insurance) (Hong Kong). The outlook for both ratings is stable. The ratings …
Louisiana Workers’ Compensation Corporation (LWCC), announced that Kristin Wall, president and chief operating officer, was named by the company’s Board of Directors to replace Steve Cavanaugh as Chief Executive Officer. Cavanaugh tendered his resignation at the March 16 Board meeting. …
Using a new law designed to lower doctors’ costs, state regulators on Tuesday ordered Illinois’ major malpractice insurer to start bringing down rates next year and open itself to more public scrutiny. ISMIE Mutual Insurance Co. criticized the order as …
AMS Services has acquired FinancePro, a developer of Web-based premium finance solutions based in Issaquah, Wash. FinancePro provides premium finance loan management and agent quoting capabilities and is currently in use by large independent finance companies as well as MGAs …
