New coverages promised under competition include disappearing deductibles, new car replacement coverage, auto loan/lease gap coverage, enhanced towing and substitute transportation, identity theft and even crash protection for pets.
Arbella, MetLife, Main Street Amend Mass. Rates; OneBeacon Unveils Plans
Several Massachusetts auto insurers have amended last week’s filings to further lower rates and increase discounts for safe drivers while another revealed its plans for 2008 under the new managed care system. MetLife Auto & Home, one of the top …
Ky. Grand Jury Indicts Insurance Agent on Fraud Charges
A former Kentucky insurance agent has been indicted on fraud charges after allegedly forging signatures on 114 disability insurance applications. According to court documents, Ray W. Kennedy, 46, of Owensboro, Ky., received more than $14,000 in commissions from American Family …
$800,000 Settlement Approved in Mont. Psychologist Malpractice Case
A district judge has approved an $800,000 settlement in a malpractice and fraud lawsuit filed by a Billings, Mont., woman against her deceased daughter’s psychologist. Judge Susan Watters said the settlement amount was reasonable considering the damages that Betty Bowman …
CORRECTION: Europ Assistance
An article on the IJ web site Nov. 7 – “Europe Assistance Launches Identity Theft Service in UK, Ireland” – incorrectly identified the Parent Company of Europ Assistance as Allianz. The travel services group is a division of Italy’s Generali. …
Europ Assistance Launches Identity Theft Service in UK, Ireland
Europ Assistance has launched an ID Theft assistance service for its UK and Ireland based clients. The travel insurer, an independent division of Italy’s Generali Group, already covers “13 million customers of leading financial service organizations in the U.S.,” the …
Washington County Forms Special Unit for Complex Crimes
Washington’s King County prosecutor’s office has a new division to handle complex financial crimes. It will prosecute cases of identity theft, mortgage and insurance fraud and computer offenses. Prosecutor Norm Maleng had started putting the division together before he died …
News Currents
N.Y. department prevails in liquidation bureau audit New York state’s highest court has ruled that the state auditor does not have the authority to audit an obscure division of a state agency managing $3.3 billion. The New York Court of …
How to Beat the Soft Market Blues
The market for management liability coverages is soft. Premiums are down, which means revenues are down. Yet there still are tremendous opportunities for proactive agents and brokers to sell the coverages, according to Kirk Denebeim, senior vice president for Socius …
Feds Require Financial Firms to Take Identity Theft Prevention Steps
Federal regulators are requiring that every financial institution have a program to detect and prevent identity theft on consumer accounts. The federal financial institution regulatory agencies and the Federal Trade Commission have issued final rules on identity theft “red flags” …
