Monthly Archives: <span>September 2010</span>

Geico Lawsuits Target New York No-Fault Fraud Schemes

Geico is seeking $9 million in damages in three fraud lawsuits alleging that a medical equipment supply supplier and its attorneys, a radiology practice in Brooklyn and a Queens medical facility submitted thousands of suspect no-fault fraud claims. The total …

Tennessee Warned to Take Earthquake Threat Seriously

Cities and states have improved their disaster readiness since the Sept. 11 attacks and Hurricane Katrina, but authorities must keep stressing emergency preparedness to reduce complacency among the general public, retired Army Lt. Gen. Russel Honore said in Memphis Friday. …

Michigan County Hopes Insurer-Gifted Dog Sniffs Out Arsonists

With big, liquid brown eyes and a mouth that seemed to stretch into a smile, Gunner has the look of a family pet ready to run after a stick and curl up at the foot of a bed. But while …

AIG, Government Move Closer to Deal on Bailout Exit

American International Group Inc. and the U.S. government are moving closer to a deal on how the Treasury Department would exit its investment in the bailed-out insurer, sources familiar with the situation said on Sunday. The situation, however, is still …

AIA Begins Premarketing for IPO; More Details Released

American International Group Inc will be required to hold a 30 percent stake in its Asian life insurance business, AIA Group Ltd, for a year after AIA’s listing next month, the term sheet showed on Monday. AIA’s share offering is …

Marsh Launches $1 Billion Metals Insurance Policy as Gold Prices Climb

As the price of gold nudges an all time high of $1300 an ounce, the risks for firms who handle the metal have increased, which “may leave firms under-insured,” notes Marsh’s London office. The record high gold bullion prices “mean …

CEA Aims to Improve Value, Affordability of Calif. Earthquake Insurance

Californians might have more reason to retrofit their homes to better withstand a major earthquake, thanks to a recently adopted building code for retrofitting existing structures. The standard, approved in August by the state Building Standards Commission is the first …

Insurance Journal Academy Attending the First Virtual Insurance Marketplace Tradeshow

Please join us at the insurance industry’s first Virtual Insurance Marketplace tradeshow. October Wed 27- Sat 30 2010. Get all the benefits of attending an insurance trade show without any expense or leaving your office: · Find New Markets · …

Ratings Roundup: BEST RE, SALAMA, Adamjee, Lonpac

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Tunisia’s BEST RE, both with stable outlooks.The ratings of BEST RE reflect its “significant importance to its …

Kirschner Named VP at William Gallagher

Boston-based insurance broker William Gallagher Associates has named Scott Kirschner as a vice president. He has 24 years of employee benefits-related experience, most recently with The Bostonian Group where he served as director of the Employee Benefits Practice. His has …