As a protest over State Farm’s change from billable hours to a flat rate payment for insurance defense work, one attorney who spent 32 years defending the insurer changed sides. Read the full story on Law.com.
SEC informal investigations in securities laws whistleblower matters typically start with a “matter under inquiry” (MUI), which may be later be converted to a formal investigation. More serious matters may simply start at the full investigation stage. An article titled A Newly Assertive SEC, Backed By Whistleblowers, Means Rise In Investigations—And Risks in Property Casualty […]
The Doctors Company, the nation’s largest insurer of physician and surgeon medical liability, announced today that it has agreed to purchase competitor FPIC Insurance Group Inc. Panel counsel for Doctors may be relieved to be on the side of the survivor, while FPIC approved panel members may be jockeying for a position once the firms merge. […]
State Farm recently published a list of its top 10 states in terms of dog bite claims, as reported by the Insurance Journal. The number of State Farm claims, and the total claims cost, is indicated by state below. 1. California, 369, $11.3 million 2. Illinois, 317, $9.7 million 3. Ohio, 215, $5.7 million 4. Texas, […]
A Federal Advisory Committee on Insurance is being established by the U.S. Department of the Treasury. This is one in a series of steps being taken to form the new Federal Insurance Office (FIO). State and tribal insurance regulators will comprise half of the Committee’s membership. Other members will represent various aspects of the insurance industry, including […]
Fraudulent sinkhole claims and increased competition are the targets of legislation passed in the Florida Senate today, according to an Associated Press article posted on Forbes.com. Differences between the House and Senate version of the bill remain to be resolved.
John Hancock Financial Services Inc. reached a settlement agreement with the State of California in response to charges that they avoided paying death benefits to widows and other qualifying beneficiaries. Hancock has since decided to take a proactive approach to identifying deceased clients. Perhaps this is a business development opportunity for insurance defense law firms […]
State Farm has received more than 15,000 claims from the tornadoes and severe storms that hit the Southern states last week, while Nationwide reports 14,200 claims in North Carolina, according to a Wall Street Journal article today titled, “Home Insurers Caught Up in a Tornado.”