The International Association of Marine Investigators (IAMA) recently elected its slate of officers and directors for 2003 at their Annual Training Conference in Panama City, Fla. Pat Rowland, of the Jackson County, (Ore.) sheriff’s office will serve as president; Karlton …
Pennsylvania Insurance Commissioner Diane Koken has closed down the reported illegal insurance operations of the following companies: *International Water Safety Foundation (IWSF) of London, England *Water Safety Services (WSS) of Blainville, Quebec *North American Marine General Insurance Company Ltd. (NAMGIC) …
Father and son owners of a Bay County, Fla. roofing company were hit with charges of racketeering and workers compensation fraud stemming from schemes the two allegedly used to avoid more than $1.5 million in premiums for employees, according to …
Australia’s QBE announced that it has acquired Reliance National Brasil Seguros, S.A. and has renamed the company QBE Brasil Seguros, S.A.,headquartered in Sao Paulo with a branch in Recife, one of the main business centers in the Northeastern Region of …
The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account for 2 percent of global Gross Domestic Product. Based on 1996 figures, …
QBE Reinsurance Corporation announced that its parent, QBE Insurance Group Limited, had made an additional capital contribution of $50 million. The contribution increases the policyholders’ surplus of QBE Reinsurance Corporation to over $200 million and the policyholders’ surplus of its …
Sovereign Risk Insurance Ltd., a joint venture between two subsidiaries of Bermuda’s ACE and XL, announced a “strategic alliance” with Panama-based Banco Latinoamericano de Exportaciones, S.A. (BLADEX), “designed to expand and enhance its Country Risk Guaranty program in Latin America …
Fitch rating agency has published a report affirming the ‘AAA’ rating of Swiss Re Mexico S.A., and its subsidiary Reaseguros Alianza Panama, S.A., which is in runoff, at ‘A.’ The brief announcement notes the strong commitment of parent company Swiss …
Texas Insurance Commissioner Jose Montemayor ordered a London-based “foundation” to pay a $500,000 fine and to stop offering boat insurance in Texas without a license or other proper authority from the Texas Department of Insurance. Earlier this month, Montemayor issued …
MetLife Auto & Home began airing a new television and radio advertising campaign featuring Snoopy to build awareness that “all auto insurers are not the same” and to promote its Coverage Plus and Deductible Savings Benefit programs. These programs include …
