Three insurance companies have sued Academy Award-winning actress Marisa Tomei in a New York court last week, seeking $128,755 in damages. Pacific Indemnity Company, Federal Insurance Company and Vigilant Insurance Company — all members of Chubb Group of Insurance Companies …
There has been a lot of auto insurance fraud news in recent months, with stories of scam artists going after big payouts from insurance companies. In New York State, such fraud is raising the auto insurance cost for many residents, …
The Virginia Supreme Court has recently granted rehearing of a closely followed legal case involving global warming, The AES Corp. vs. Steadfast Insurance Company. The court says its previous decision on the case has been “set aside.” On Jan. 17, …
The Pennsylvania Insurance Department has approved a 5.7 percent decrease in overall workers’ compensation costs that will result in $160 million in savings for Pennsylvania employers. Regulators said employers can expect a 5.7 percent rate decrease, on average, in 2012. …
North Carolina-based BB&T Corp. is buying the property/casualty and life insurance units of Roseland, N.J.- based insurance wholesaler Crump Group. Under the terms of the agreement, BB&T said it will pay $570 million in cash for Crump Property/Casualty Insurance Services …
Broad metrics of worker’ compensation costs show that Virginia is a lower cost state, largely due to a lower frequency of claims, according to a new report. But the report from the Workers Compensation Research Institute (WCRI) also found that …
Markel Corporation reported $52.3 million for its 2011 fourth-quarter net income, down 62.8 percent from one year ago when the specialty insurer posted $140.4 million. For the 2011 full-year, Markel posted net income of $148.5 million, down 44 percent from …
The Treasury Department’s Federal Insurance Office was expected to complete and send its highly anticipated report on modernization of insurance regulation to Congress in January. But now, it looks like it may take a while longer. A spokesperson for the …
The Pennsylvania Insurance Department said its office of market regulation completed 334 enforcement actions and market conduct examinations in 2011. In all, the department issued 141 orders and adjudications, collected more than $900,000 in penalties and fines and recovered $3.2 …
W.R. Berkley Corporation reported net income of $117.9 million for its 2011 fourth quarter, a 7 percent decline compared to the same period one year ago when the company reported $126.9 million net income. The Greenwich, Conn.-based commercial lines P/C …
