An Alabama judge upheld the fraud verdict that the state won against AstraZeneca Pharmaceuticals LP in a Medicaid drug pricing suit, but ruled the punitive damages were too high, trimming the total judgment to $160 million. The jury ordered the …
California’s Department of Insurance is hosting a workshop at 10 a.m., Monday, June 23, 2008, to solicit input on bringing “pay-as-you-drive” automobile insurance to the state. According to the DOI, California Insurance Code requires automobile insurance rates to be based …
Two consecutive years of record earnings in the property and casualty insurance industry driven by lower catastrophe losses and healthy investment returns, along with unforeseen risks brought on by the subprime mortgage and credit crises, have created unique conditions in …
McQueary Henry Bowles Troy LLP (MHBT) has added Jim Anderson as senior vice president in the Dallas-based firm’s property and casualty group. Anderson will oversee the production and account management of property and casualty business accounts. With nearly 30 years …
Narragansett Bay Insurance Co. reported the addition of Raymond Deschene as director of ShelterPride, its risk management and underwriting program for insurance for homes that many other companies have opted against writing. Deschene previously worked for NBIC as vice president …
Texas Mutual Insurance Company announced a $59,360 dividend to the Texas Home Builders (THB) workers’ compensation purchasing group. The group’s first dividend was based largely on its first-year premium volume and loss ratio. “We’re committed to the ongoing education of …
Houston-based HCC Insurance Holdings Inc. appointed Todd Ruyak and Eric Mihailovich senior vice presidents of the company’s newly formed Professional Indemnity Agency Inc. (PIA) Property Division, reporting to PIA Holdings Inc. Chief Executive Officer Cory L. Moulton. PIA is headquartered …
Garry Kaufman, president of Galveston Insurance Associates, Galveston, Texas, was elected president of the Independent Insurance Agents of Texas (IIAT) for 2008-2009 during the 111th Annual Conference & Trade Show. His term begins Sept. 1. Bryan Shofner, president of Shofner …
The storms that produced widespread flooding across the state this month caused almost half a billion dollars in damage. The Wisconsin Emergency Management department says preliminary figures add up to more than $470 million in damage. Federal officials are still …
Despite recent challenges to the economy, employers are managing to maintain a balance in employee benefits, according to the 2008 Employee Benefits Survey from the Society for Human Resource Management (SHRM) at its 60th Annual Conference. “Rising health care costs, …
