An appeals court on Monday, Aug. 25, 2008, tossed out a $241 million award won by the state of California in a lawsuit stemming from the takeover of failed insurer Executive Life by French investors. The 9th U.S. Circuit Court …
Los Angeles-based Lemac & Associates announced that Gloria Li-lien Lam, who specializes in workers’ compensation, has been promoted to vice president. Lam began her career with Lemac & Associates in 2006 as assistant vice president. She holds a Master’s degree …
With Tropical Storm Gustav on deck in the Caribbean, insurance claims from Tropical Storm Fay continue to mount while the storm’s rain producing potential manifests throughout Alabama, Georgia and the Carolinas. The Florida Office of Insurance Regulation reported the latest …
The latest workers’ compensation filing in Florida calls for an overall average rate decrease of 14.1 percent statewide, which would produce a savings of more than $465 million for Florida employers, according to state officials. Florida Insurance Commissioner Kevin McCarty …
The cost of auto injury claims involving lighter-weight vehicles tends to be higher than the cost of claims involving heavy vehicles, according to new research from the Insurance Research Council (IRC). The average claims payment involving lighter weight vehicles is …
A former Bucks County, Pa., chiropractor has been accused of fraudulently billing two insurance companies for more than $27,000 for treatments to patients who claimed to have been injured in staged bus accidents. Attorney General Tom Corbett identified the defendant …
Premiums for workers’ compensation insurance in New York will drop 5 percent in 2009, said Gov. David Paterson, marking the second straight annual decline since landmark reform legislation was passed in 2007. The drop in rates follows a 20.5 percent …
Tower Group, Inc. and CastlePoint Holdings, Ltd. announced today that CastlePoint Reinsurance Co., Ltd., a Bermuda-based subsidiary of CastlePoint, has agreed to acquire HIG, Inc. Bermuda-based CastlePoint said it will pay the seller, a subsidiary of Brookfield Asset Management Inc., …
A 2008 filing most insurance carriers will use to develop rates for workers’ compensation coverage shows the third straight decrease in loss costs, Insurance Commissioner Sharon P. Clark announced. The loss cost figures show an average reduction of 5.1 percent …
Philadelphia Insurance Companies has begun offering Volunteer Accident Insurance through its partnership with Life Insurance Co. of North America, a CIGNA company. Insurance is provided for a variety of niches including non-profits, social service and mental health organizations, museums, home …
