Latest News in Home Insurance – Aug 07, 2011
California Insurance Department Gives Grants to District Attorneys
California Insurance Commissioner Dave Jones today announced $3.2 million in grants to California District Attorneys aimed at combating fraudulent disability and health claims against insurance carriers and to protect consumers from various crimes related to the sale of life insurance …
BancorpSouth and First National Bank Enter Sale Agreement
BancorpSouth, Inc. announced that its banking subsidiary, BancorpSouth Bank, and the First National Bank of Hughes Springs, Texas, have entered into an agreement under which BancorpSouth will sell to First National its two banking locations in Maud and Redwater, Texas. …
Chartis Expands Building Services Contractors? General Liability Coverage
Chartis introduced a new general liaiblity product for building services contractorsto address several target casualty exposures in a single endorsement. As part of a full suite of primary casualty solutions for the real estate sector, this new coverage endorsement expands …
LA Car Arson Suspect May Have Set Fires in Japan
Fire investigators tried to determine Wednesday whether a man arrested for investigation of a serial arson spree in the San Fernando Valley served time for torching bars and restaurants in Japan a decade ago while he was in the Marines. …
AIPSO Appoints Western Region Manager
AIPSO has appointed Roberta Haskins to serve as the manager of its Western Region, which includes the California Automobile Assigned Risk Plan (CAARP), the California Low Cost Program, and the Western Association of Automobile Insurance Plans (WAAIP). Effective August 15, …
XL Insurance Appoints Western Property Executive
XL Insurance has appointed Wade Pitman as senior vice president and Western senior executive for property. Pitman will be based in Los Angeles and will be responsible for managing property underwriting activities in California, Nevada, Arizona, Colorado, Washington and Oregon. …
AIG Plans to Keep Mortgage Insurance Unit
Bailed-out insurer American International Group plans to hold on to its mortgage insurance business even as the rest of that industry struggles with rising claims, AIG’s chief executive said Friday. Mortgage insurers have been struggling, with losses mounting and capital …
Wells Fargo to Pay $590 Million to Settle Wachovia Claim
Wells Fargo & Co. plans to pay $590 million to settle a class action lawsuit regarding Wachovia preferred securities and debt, the company said Friday. The 2009 class action case was filed in a federal court in New York City …
Illinoisan Admits $2.4 Million Investment Scheme
A judge has set a November sentencing date for a southwestern Illinois businessman who’s admitted orchestrating a scheme that swindled $2.4 million from two dozen would-be investors. Sixty-three-year-old Edward Moskop of Belleville pleaded guilty Wednesday in U.S. District Court in …
European Insurers? Greek Hit Fuels Debt Concerns
Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns about the possible impact on insurers of a worsening sovereign debt crisis. Analysts say major European insurers have moderate exposure to …
