June 30– NORFOLK– A federal judge in New York signed off on a $7.9 million settlement involving two law firms, including one in Virginia Beach, and investors in the WexTrust Capital Ponzi scheme. The Virginia Beach firm Poole Mahoney will pay $900,000 and the Chicago firm Much Shelist, and its insurers, will pay $7 million to the receiver managing the WexTrust…
Newswires
In the wake of the Supreme Court’s decision yesterday, Rick Berg is trying to hide his long record supporting loopholes for insurance companies to kick North Dakotans off their health care plans. “Rick Berg is using partisan Washington double-speak to hide his support for creating new loopholes for insurance companies to kick North Dakotans off their health…
A.M. Best Co. has affirmed the financial strength rating of A- and issuer credit ratings of “a-” of Employers Reassurance Corp. and Union Fidelity Life Insurance Company. The ratings of ERAC and UFLIC are based upon the consolidated financial results of the two companies and reflect their adequate risk-adjusted capitalization, improved operational…
Fitch Ratings has affirmed Phoenix Companies, Inc.’ s’ B’ holding company Issuer Default Rating with a Positive Outlook. PNX’s debt servicing capabilities improved substantially in 2011, and GAAP coverage continued to strengthen in the first quarter of 2012. GAAP EBIT coverage was 3.1 x and 2.5 times as of March 31, and Dec. 31, 2011 respectively compared to…
Fitch Ratings has revised the Rating Watch status for Old Republic International Corp. and its insurance company subsidiaries to Negative from Positive, following the company’s announcement to withdraw the spin-off of Republic Financial Indemnity Group, Inc.. Fitch had most recently placed the ratings on Rating Watch Positive on March 23, after ORI’s…
Allied World Assurance Company Holdings, AG announced that Richard Nathan has joined Allied World Europe as VP, European Corporate Property Manager. In this position, Nathan will oversee the build-out of Allied World Europe’s corporate property business in the United Kingdom and continental Europe. Allied World has underwritten property in the United…
Demotech, Inc. has advised that five title underwriters have formed a reinsurance alliance with Lloyd’s of London. The participating Title underwriters are Agents National Title Insurance Company, Columbia, Missouri; Alliant National Title Insurance Company, Longmont, Colorado; Attorneys’ Title Guaranty Fund of Colorado, Denver, Colorado; Connecticut…
In plain English, the high court ruled: 1. The penalty that someone must pay if they refuse to buy health insurance is a type of tax that Congress may impose because of its constitutional taxing powers. 2. The Court decided that the provision requiring states to comply with new eligibility requirements for Medicaid or risk losing funding is constitutional as…
After the Supreme Court upheld the Patient Protection and Affordable Care Act yesterday, Altus Health Care Management Services announced a new, permanent PPACA Compliance Initiative with a PPACA Discount that includes total billing and collection disclosures for all out-of-network care. Yesterday’ s Supreme Court decision will make the Altus PPACA…
Amica Insurance reminds everyone to be aware of their exposure to wildfire risks and to take steps now to protect their homes and property. “Wildfires can be terrifying,” said Michael Gillerlane, a senior assistant vice president with Amica Insurance.“ They can start suddenly and spread quickly, racing through fields and forest and destroying everything in…
The ACA legislation was upheld yesterday by the Supreme Court in a much-awaited ruling on the law’ s constitutionality.. “No matter which side of the aisle you identify with, we all agree that the decision to uphold The Affordable Care Act will have a ripple effect across the healthcare industry, “said Michael Cloutier, vice president and insurance industry leader.“…
June 29– Members of the Greater Hazleton Area have varying opinions on the affordable health care mandate dubbed Obamacare. Thursday, the Supreme Court upheld the mandate that will require Americans to obtain health insurance or pay a tax. Eve Jones, a Hazleton native, doesn’t have health insurance.
A.M. Best Co. has downgraded the financial strength rating to C from B and issuer credit ratings to“ ccc” from“ bb” of Safe Harbor Insurance Company. Concurrently, A.M. Best has withdrawn the ratings in response to Safe Harbor management’ s request to no longer participate in A.M. Founded in 1899, A.M. Best Company is the world’ s oldest and most authoritative insurance…
Media Contacts: Dean Pagani, Tom Flanagin 224-9767. -Today, the Senate approved a major transportation bill that includes a five year reauthorization of the National Flood Insurance Program. Texans living in flood-prone areas will continue to have access to affordable flood insurance, and improvements to the National Flood Insurance Program’s premium…
Contact: Michael Teague, Pryor, 501-324-6336. Bipartisan Coalition of Senators Defeat Plan to Force Unnecessary Flood Insurance on Homeowners, Businesses. WASHINGTON D.C.- A bipartisan coalition of U.S.
June 29– CARSON CITY– A Las Vegas truck driver who lost his job due to the malpractice of his dentist has now lost his ability to collect a $480,260 judgment from the wayward dentist’s former insurer. The Nevada Supreme Court ruled Thursday that Glenn Williams filed his claim with Physicians Insurance Co. of Wisconsin after the expiration of the medical…
I think if this didn’t happen, it would really be a total disaster, “said Scher, a former cardiologist in the Harrisburg area who is now a consultant. Harrisburg area supporters of the law celebrated, hailing it as the beginning of the end of the problems of tens of millions of Americans with no health insurance. “We are thrilled,” said Jeannine Peterson, CEO of Hamilton…
Because auto crashes are the number one killer of teens, State Farm is dedicated to helping create safer and better-prepared drivers. ” Research demonstrates inexperienced teen drivers are much more likely to crash than other drivers, “said Chris Mullen, Director of Technology Research at State Farm.” About State Farm ®: State Farm and its affiliates are the…
June 28– The Madera County 2012-13 budget is currently being developed with budget hearings set to begin on Aug. 14, to deal with a projected deficit of $8 million. “Current fiscal trends, coupled with rising salary and benefit costs for the remaining workforce and increasing health insurance costs for retirees, indicate that the county’s extremely tight fiscal…
