Texas Family Pleads Guilty in Scheme to Defraud Aflac
Seven family members, including a former Hidalgo County district court probation officer, have been convicted for their roles in a $3 million scheme to defraud American Family Life Assurance Company (Aflac). In a news release from the U.S. Attorney’s Office …
Oxygen sells Robertson Taylor to EIP
Oxygen Holdings plc has announced the sale of its subsidiary Robertson Taylor Holdings Ltd to Entertainment Insurance Partners (EIP). The sale, which is subject to the regulatory approval of the FSA, is for an undisclosed sum. Robertson Taylor provides the music industry with specialist broking and services, on the global stage. The subsidiary was acquired […]
Pittsburgh Medical Center to Appeal $12.5M in Malpractice Verdicts
The University of Pittsburgh Medical Center expects to file an appeal after two Allegheny County juries have awarded $12.5 million in damages to the family of a 24-year-old accountant who died in 2003 after an abscess was misdiagnosed as a …
Property Catastrophe Market to See Price Hikes: Lockton
Large catastrophe losses and the prospect of poor investment returns are paving the way for much tougher market conditions for commercial property insurance buyers, according to a new report The new report — the Lockton Market Update — provides a …
Corps: SW Iowa Levee to Remain Vulnerable in 2012
Officials say the levee near Percival, Iowa, that failed in last summer’s Missouri River flooding will undergo temporary repairs but will remain vulnerable to severe flooding next year. KETV-TV reported damage to the levee is about $120 million but only …
Lawmaker: Oklahoma Cannot Wait On Insurance Exchange
A legislative panel exploring the impact of the new federal health care law on Oklahoma will likely suggest that the state should do the minimum amount required to comply with the act, the committee’s chairman said. State Sen. Gary Stanislawski, …
Louisiana Citizens Drops Nearly 11K Policies in 5th Round of Depopulation
Nearly 11,000 homeowners polices once held by Louisiana’s property insurer of last resort have been absorbed into the private insurance market, state regulators say. Louisiana Insurance Commissioner Jim Donelon announced that in a recently completed fifth annual round of depopulation …
Fast Growth in Price for Non-Hospital Services in Indiana Work Comp
The price for non-hospital services in Indiana’s workers’ compensation system in 2010 was the third highest of the 25 states in a study conducted by the Workers Compensation Research Institute (WCRI). The price for non-hospital services was more than 50 …
‘Insurers should rethink sovereign debt exposures’
Call by Eiopa chairman prompted by gathering Euro-zone crisis
Aon, ACE Integrate London Exchange for Accounting and Settlement
Aon Risk Solutions, the risk management business of Aon Corp., and ACE have both announced the “successful implementation of Rüschlikon accounting and settlement standards via The Exchange.” The announcement described the move as taking “the London market’s e-capabilities a …