Almost nine in 10 suspected health care fraud cases in New York last year came from no-fault auto injury claims, a cottage industry so rife with abuse that the state Insurance Department wants to tighten regulations. Related Fraud Bureau investigations …
Maine-based workers’ comp insurer The MEMIC Group has promoted Michael P. Bourque to senior vice president for external affairs. Bourque joined MEMIC in 1995 and was appointed vice president for corporate marketing and communications in 2004. His new title reflects …
A new program administrator, Core Programs, has launched in New Jersey. The Totowa-based firm, managed by 23-year industry veteran Richard Trezza, will focus on commercial P&C lines. With an operating platform established, Trezza said the company plans to announce its …
A group of condominium owners in northern Kentucky is hoping a judge’s ruling will give them an opportunity to collect several million dollars from a defunct construction company they say did shoddy work on their homes. Campbell Circuit Judge Julie …
Despite a last-minute attempt to derail it, the U.S. government launched a public database Friday that allows Americans to report and search safety complaints on thousands of products — from cribs and toys to power tools and hair dryers. SaferProducts.gov, …
Congressional Republicans on Wednesday will stage their first outright challenge to 2010’s Dodd-Frank financial regulation reforms with a fistful of bills favoring private equity firms, derivatives end-users and corporate CEOs. After months of trying to defund and defang Dodd-Frank at …
Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and reinsurance industries without widespread …
Swiss Re issued a statement which stressed that it is “committed to the Japanese insurance market and to supporting the country’s recovery from the devastating earthquake and tsunami which claimed many lives last week.” Chief Executive Stefan Lippe added: “We …
Quake-hit Japan faces a recovery and reconstruction bill of at least $180 billion, or 3 percent of its annual economic output and more than 50 percent higher than the total cost of 1995’s earthquake in Kobe. Even though some extreme …
Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts pegged the …
