North Carolina News

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People

The National Association of Insurance Commissioners named its 2007 committee chairs and vice chairs. The new assignments are for one year: International Insurance Relations Committee: chair, Diane Koken, commissioner, Pennsylvania Insurance Department, and vice chair, Dorelisse Juarbe Jiminez, commissioner, Puerto …

New Markets

D&O for Small Public Cos. Nuts & Bolts: The Chubb Group of Insurance Companies has introduced specialized directors and officers (D&O) liability insurance for publicly traded companies with market capitalizations of $100 million or less. These “micro-cap” coverage enhancements can …

N.C. Halts Sales By Insurer Accused of Selling Unlicensed Flood Insurance

North Carolina Insurance Commissioner Jim Long announced that an emergency cease and desist order was served on Continental Casualty Insurance Group, a company his department believes has targeted property owners in Topsail Beach with offers of low-cost flood insurance. The …

Four Arrested in N.C., One Wanted; All Accused of Major Insurance Fraud Ring

North Carolina Officials arrested four Anson and Richmond County residents accused in an extensive insurance fraud ring. The accused were investigated for allegedly filing fraudulent insurance claims and altering police accident reports and hospital bills. Nancy Ratliff Smith, 39, of …

Edwards Calls for Universal Health Care Coverage

Health care coverage would no longer be optional in the United States under a plan announced Monday by presidential candidate John Edwards that would require all businesses to provide insurance and all Americans to have it. The 2004 vice presidential …

LMC Capital Names Carico SVP

Pamela B. Carico has joined LMC Capital LLC, based in Charlotte, N.C., as a senior vice president. Previously, Carico was the director of risk management for Springs Industries Inc. and subsequently Springs Global US, Inc. where she managed the insurance …

Royal & Sun Management Buyout Clears Hurdle; Final OK Expected

A state hearing officer recommended Friday that Delaware’s insurance commissioner approve the proposed management buyout and eventual dissolution of Royal & Sun Alliance Insurance Group’s U.S. operations. The proposed buyout was the subject of a lengthy hearing last month, and …

California AG Reaches $8 Million Settlement with Bayer Corp.

California Attorney General Jerry Brown has reached an $8 million, 30-state settlement with Bayer Corp. that will resolve an enforcement action initiated because of Bayer’s failure to adequately disclose safety risks associated with the use of Baycol, a drug used …