A former Alexandria, La., insurance agent (producer) was arrested and issued a Cease and Desist Order for allegedly misappropriating insurance funds, Louisiana Insurance Commissioner Robert Wooley announced. Department of Insurance Fraud Unit investigators served Steven Dewayne Perkins, 27, with a …
Aon Warranty Group, a unit of Chicago-based Aon Corporation, and Whirlpool Corporation announced an agreement to jointly deliver extended service contract services for select U.S. Whirlpool Corporation appliance products. Under the terms of the agreement, Aon Warranty Group will provide …
The Alliance of American Insurers (AAI) on Tuesday stressed the need for a cautious approach to any rate rollbacks in workers’ compensation insurance in California. “We’re already seeing a wide variation in the estimates of savings that may be generated …
In an effort to fight organized insurance fraud, Federated Insurance Company of Canada is transmitting weekly claims data to Insurance Bureau of Canada (IBC) by means of ACE batch submission. “Increased access to quality claims data is needed to fight …
The U.S. property/casualty industry’s net income after taxes rose to $14.5 billion in first-half 2003 from $4.4 billion in first-half 2002, as both underwriting and investment results improved, according to Insurance Services Office Inc. (ISO) and the National Association of …
California-based DST Output and Document Sciences Corporation announced a strategic business alliance to introduce VeraSure, a combined, single-source application service provider (ASP) solution for the p/c, life, and annuity,sectors. The combined solution automates the creation and multi-channel delivery of regulatory …
Disappointing profitability, not the existing level of capital adequacy, was the main driver behind recent downgrades of several reinsurers, Standard & Poor’s Ratings Services said in a report. During the past 18 months, reinsurance group profitability fell short of Standard …
The Netherlands-based ING Group has reportedly failed in its attempt to unfreeze $300 million that has been in the hands of a Mexican court since the end of August. The court had ordered the seizure of the funds at the …
Employers Insurance Company of Nevada, A Mutual Company (“EICN”) and its wholly-owned subsidiary Fremont Employers Insurance Company (“FEIC”) (collectively “the Company”), leading providers of workers’ compensation products and services in the Western United States, reported statutory financial results for the …
The Professional Insurance Agents of New York State Inc., has issued a bulletin congratulating the New York State Insurance Department and the Department of Motor Vehicles on the recent success of the Insurance Information & Enforcement System (IIES), and also …