The suit, filed Monday by United Healthcare Services, echoes assertions in a $20 million Aetna Insurance suit filed early this year that the company is making millions of dollars and enriching local doctors by sidestepping state and federal laws meant to protect patients and control costs. The company, which manages outpatient surgical centers, says it gets…
Newswires
June 19– When Jimmy Rogers Jr., graduated from Southern Methodist University in 1956, he knew where he was headed. He knew he wanted to work in his father’s insurance business in El Paso: Rogers& Belding Insurance Agency, which grew to be one of the largest insurance brokerages in El Paso. throughout El Paso, and I plan to stay active, “Rogers said.
The parties are joining to provide care through a new type of Medicaid health maintenance organization, Clear Health Alliance, an HIV/AIDS plan offered by Simply Healthcare. The health insurer, Simply Healthcare, was created by veteran entrepreneur Miguel B. “Mike” Fernandez. Clear Health will soon expand into Broward County and eventually throughout the…
Tower Group, Inc. announced that it has invested $7 million in 8.5 percent convertible senior notes due 2026 of Cinium Financial Services Corp., a privately owned holding company focusing on providing surety insurance and related products and services. In February of this year, Tower entered into a program underwriting agreement with Cinium Underwriter…
The lending business of HSBCFC was historically a significant source of business for HSBC Insurance Company. The outlook reflects A.M. Best’s expectation that HSBC Insurance Company will continue to generate solid operating earnings along with maintaining its strong risk-adjusted capitalization and solid liquidity position. However, negative rating…
edge IPK, a provider of edgeConnect, an insurance industry user experience platform designed to provide the optimal user experience to any insurance user, through any device, browser, and language, said that Ecclesiastical Insurance, a specialist financial services provider with a focus on charity, care, education, church and heritage sectors, has selected the…
Michigan Attorney General Bill Schuette and OFIR Commissioner Kevin Clinton today announced the Attorney General’s Corporate Oversight Division has charged a Texas man for his alleged involvement in a fake insurance scam, which operated under the name Ethos Insurance. Texas resident Don Diamond, 48, owned and operated Ethos Insurance Agency, a Texas…
June 18– A second insurance giant has sued Saratoga- based Bay Area Surgical Management and its five facilities, claiming that the company submitted inflated and fraudulent bills that cost the insurer more than $39 million. United claims that in one case Los Gatos’s National Ambulatory Surgical Center billed United $69,700 for a single arthroscopic knee…
TORONTO, June 18, 2012/ PRNewswire/- Kingsway Financial Services Inc. today announced that its Board of Directors received and granted an exemption request under its tax benefit preservation plan to Joseph Stilwell, a member of the Board. The Company owns or controls stakes in several insurance industry assets and utilizes its subsidiaries, 1347 Advisors LLC…
June 18– ORWIGSBURG– A 23- year-old Schuylkill Haven man died when the motorcycle he was driving crashed along Route 61 in North Manheim Township early Monday morning. Ronald R. McKay III was pronounced dead at the scene along Route 61, in front of Seltzer Insurance Group, at 11:19 a.m. by Schuylkill County Deputy Coroner Joseph Pothering. State police Trooper…
Nearly $4 billion in the proposed $32 billion state budget, roughly $1 of every $8 being spent, is devoted to the Medicaid health insurance program for people with lower incomes. With national estimates of fraud in the Medicaid program ranging from a low of 3 percent to perhaps exceeding 10 percent, some state lawmakers are looking at the state’s Medicaid fraud…
A.M. Best Co. has downgraded the financial strength rating to A from A+ and the issuer credit rating to“ a+” from“ aa-” of Selective Insurance Company of America and its seven pooled affiliates, collectively referred to as Selective. In addition, A.M. Best has downgraded the ICR to“ bbb+” from“ a-” and the debt ratings of Selective’ s parent, Selective Insurance Group, Inc..
A panel of analysts and industry experts reviewed highlights of a new A.M. Best special report on the state of the U.S. medical professional liability insurance industry, and provided updates on industry developments. Henry Witmer, AVP, A.M. Best Company, and one of the authors of A.M. Best’ s annual Special Report on the medical liability sector Brian Atchinson,…
Narragansett Bay Insurance Company announced today that Todd Hart has been named the company’ s Chief Executive Officer after a national search. As CEO, Mr. Hart will be responsible for executing NBIC’ s multi-year strategic plan as the company continues to grow as the“ No. 1 choice for responsible homeowners.” Mr. Hart will lead the NBIC team in assuring…
A.M. Best Co. has downgraded the financial strength rating to B+ from B++ and issuer credit rating to“ bbb-” from“ bbb” of Imperial Fire and Casualty Insurance Company. Additionally, Imperial’ s core personal auto line of business has continued to underperform partly due to unfavorable results from its relatively newly acquired Florida book. Weather-related losses…
Fitch Ratings has affirmed the’ AA-‘ Insurer Financial Strength rating of Mutual of America Life Insurance Company. MOA’s risk-based capital ratio was 444% at year-end 2011 and was estimated at 446% as of March 31, 2012. The company’s investments are concentrated in investment-grade public bonds, which amounted to roughly 90% of invested assets as of March 31,…
Healthcare organizations can be particularly vulnerable to employee injuries because of the physical demands of caring for patients. In an effort to reduce those injuries and associated costs, risk management specialists at Lockton, a privately held insurance brokerage firm, recommend that healthcare organizations broaden their patient safety…
Group Executive Vice President Kjerstin Fyllingen leaves Tryg Kjerstin Fyllingen, Group Executive Vice President of Commercial and Country Manager in Norway leaves Tryg. Rikke Larsen is an educated lawyer and has been employed with Tryg since 2000. The changes in the Group Executive Management will take effect as of today. Additional information: For…
A.M. Best Co. has affirmed the financial strength rating of B++ and issuer credit rating of“ bbb” of Bunker Hill Insurance Company. Concurrently, A.M. Best has assigned an FSR of B++ and an ICR of“ bbb” to Bunker Hill Insurance Casualty Company, the newly acquired subsidiary of BHIC. Via an intercompany pooling agreement, these companies are collectively known as the…
