Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of communications for the …
Employers Reinsurance Corp., the chief operating unit of General Electric’s sprawling reinsurance empire, is facing an uncertain future. It’s been hit by the same problems as Munich Re, Swiss Re, SCOR, Gerling and other reinsurers. Growing loss estimates from Sept. …
Moody’s Investors Service revised its outlook on the debt ratings of Willis NorthAmerica Inc., a subsidiary of Willis Group Holdings. to positive from stable. The rating agency commented that improved earnings, future prospects and reduced financial leverage combine to generate …
Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of communications for the …
Silverstein Properties Inc., along with the Port Authority and other insureds, has filed two briefs with the United States Court of Appeals for the Second Circuit establishing that the attacks on the World Trade Center constitute two occurrences for purposes …
ACE Limited announced that, as a part of their five-year commitment to aid the families of victims of the Sept. 11 tragedy in the United States, the company has chosen The Salvation Army to be the second recipient of $1,000,000 …
A jury will apparently decide whether the terrorist destruction of the World Trade Center’s twin towers was one event or two and will determine how much insurers must pay to rebuild the site. According to BestWire and Comtex, a federal …
Silverstein Properties Inc. announced that Judge John S. Martin, Jr. has rejected an attempt by three insurers to avoid a jury trial on whether they were liable to pay on a two occurrence basis for the destruction of the Twin …
The nation’s top 13 insurance crooks, cons and knuckleheads of 2002 have been enshrined into the first annual Insurance Fraud Hall of Shame by the Coalition Against Insurance Fraud. The inaugural scheme team was dishonored for insurance swindles that were …
S&P’s Ratings affirmed its ‘BBBpi’ counterparty credit and financial strength ratings on Employers Mutual Casualty Co. and related pool members (collectively referred to as EMC) based on the companies’ improving operating performance, partially offset by declining capitalization and high common …
