ACE Limited announced from its Bermuda headquarters a $298 million reserve strengthening (See related article in “International” section) and some major management changes in its U.S. operations. Brian E. Dowd, currently president and CEO of ACE Westchester Specialty, has been …
The National Association of Professional Insurance Agents reiterated its opposition to the version of a compensation disclosure model law that was passed by a vote of 30-15 (with three abstentions) on Dec. 29, 2004, by the National Association of Insurance …
A senior vice president for Marsh Inc. has pleaded guilty to criminal charges in connection with an ongoing investigation of fraud and bid rigging in the insurance industry, according to New York Attorney General Eliot Spitzer. In his guilty plea, …
Safety National Casualty Corp., an excess workers’ compensation insurer based in Missouri, has suspended two of its employees for past insurance solicitation practices involving Marsh & McLennan. The action came after an internal investigation by Safety’s parent, Delphi Financial Group …
Each year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. This year, III invited experts from companies such as Standard …
The race is still some time off, but New York Attorney General Eliot Spitzer (D), who has been on a crusade this year to fight alleged bid rigging in the insurance industry, holds a double-digit advantage over Republican Gov. George …
I am guilty of making New Year’s resolutions and then forgetting about them come March. In fact, in the beginning, my resolutions were only in my head. I guess somewhere along the way, probably back when I was in college, …
A New York Assembly Committee hearing into insurance brokerage practices, originally scheduled for Dec. 6, has been rescheduled for Friday, Jan 7. The hearing will be held in the auditorium of the U.S. Customs House, 1 Bowling Green, in Manhattan, …
New York Attorney General Eliot Spitzer and State Insurance Superintendent Gregory Serio on Wednesday announced the arrest of 31 members of a Bronx based no-fault insurance fraud ring that reportedly submitted phony no-fault claims to 13 different insurance carriers. Between …
The Property Casualty Insurers Association of America has released a statement, indicating that the action of regulators to delay consideration of one critical section of the proposed amendment to its Producer Licensing Model Act was “a step in the right …
