Monthly Archives: <span>February 2003</span>

InsuranceNoodle Signs 3,500th ‘NoodleNetwork’ Agency Partner

Chicago-based InsuranceNoodle has signed its 3,500th “NoodleNetwork” insurance agency partner to quote and bind small commercial insurance business online. The e-broker’s proprietary, Web-based agency technology enables its partners to efficiently write and service small commercial business insurance with leading national …

Nev. Resident Pleads Guilty to Fraud

Michael Allen Lessley, 35, pled guilty to felony insurance fraud before Nevada Judge Connie Steinheimer in the Washoe County Courthouse. Lessley reported his red 1995 Mustang stolen in order to allegedly receive money from State Farm Insurance Company. Lessley reportedly …

ProAssurance Reports 4thQ 2002 Increases

Alabama-based ProAssurance recorded net income of $11.97 million, or $0.43 per diluted share for the fourth quarter of 2002, compared with $4.25 million, or 16 cents per diluted share, in the same period in 2001. The company said it had …

Erie Indemnity Reports Gains in 4thQ and Full-Year 2002 Results

Erie Indemnity Company announced good results for the fourth quarter and full-year 2002 with Q4 net income reaching $33.9 million, up from $5.9 million for the same period in 2001. The announcement also noted that: *Net income per share increased …

N.Y. Man Arrested for Reported WTC Fraud

New York authorities announced the arrest of Merle Hover of Glen Aubry, New York, on charges of insurance fraud and attempted grand larceny stemming from a fraudulent claim he reportedly submitted stating that his daughter was killed in the World …

Swiss Re’ Expects $74M 2002 Loss; Jan. Renewal Rates up 10 Percent

Swiss Re indicated that it expects to post a net loss in the CHF 100 million ($73.7 million) range for the year 2002, due primarily to weakness in global equity markets, but the company also announced that the January renewal …

P/C Seminars for Product Management, Pricing/Rate Making to be Held

Dorman Consulting Associates’ product related seminars for the P/C industry have each been scheduled in Chicago, San Francisco and Boston this spring. More than 4,300 employees from over 540 P/C companies have already attended the company’s two seminars. Both seminars …

Auto Insurance, Workers’ Comp Emerge as Leading Issue Trends Among 2002’s New P/C Laws

New state laws concerning workers’ compensation and automobile insurance make up the majority of the property/casualty-related insurance laws enacted by state legislatures last year, according to an analysis of trends in new state insurance legislation published by the National Association …

Perry Signs First Insurance Legislation

Texas Gov. Rick Perry signed into law Senate Bill 310, which require insurers writing homeowners policies in Texas to provide data used in setting rates. Information gathered under Senate Bill 310 will help lawmakers analyze current rates and strengthen insurance …

Pair of Arrests Made in Connection with Fla. House Fire

A Florida mother and son are facing arson charges after being apprehended reportedly driving away in a van four miles from their burning house. The arrests followed an investigation by the Department of Financial Services, Bureau of Fire and Arson …