Frontier Pacific Insurance Company (FPIC), based in San Diego, was placed in conservation Friday after California Insurance Commissioner Harry W. Low received a conservation order from the Superior Court of San Diego.
The court found the company insolvent after an audit determined that FPIC was...Read More
Workers' compensation claim costs grew significantly in Florida in the late 1990s, according to a study by the Workers Compensation Research Institute.
The study reported that claim costs rose nearly 9.5 percent in 1998, the latest year with available data, following several years of double-d...Read More
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The financial strength rating of Fireman's Fund Insurance Companies (FFIC), Novato, California has been downgraded by A.M. Best Co. from A++ (Superior) to A (Excellent).
A.M. Best says that they are concerned with the treatment of FFIC as a core subsidiary of the Allianz A. G., Munich, German...Read More
The National Council on Compensation Insurance, Florida's rate advisory body, has recommended a statewide average 7.2 percent rate hike for Florida's work comp policyholders next year. The proposed hike includes a 4.7 percent rise for carriers' experience, trend, and benefit changes, 0.8 percent for...Read More
Fremont General Corporation (NYSE: FMT) (the 'Company') reported net income of $14,813,000 for the second quarter of 2001. This was comprised of net income from continuing operations of $14,284,000 and an after tax gain on the extinguishment of debt of $529,000. On a per share basis, the Company rep...Read More
In widely reported news yesterday, Farmers Insurance Exchange got dealt a $90 million judgment in a class-action lawsuit on behalf of claims examiners on the claim that the carrier for years cheated them out of overtime pay.
The judgment, by an Alameda County Superior Court jury in Bell vs. Fa...Read More
The Department of Industrial Relations has released the final regulations regarding reimbursement methodology for cost outlier cases; DRG weights to fiscal year 2001 levels established by the Health Care Financing Administration (HCFA); and the individual 'composite factors' based on HCFA's Hospital...Read More
Insurance rating service, Fitch, has upgraded to `BBB-` from `BB+' the insurer financial strength rating on the Sierra Insurance Group (SIG), a wholly owned workers' compensation subsidiary of Sierra Health Services Inc. (NYSE:SIE). The Rating Outlook was revised from Negative to Stable.
Fremont General Corporation (NYSE: FMT) (the 'Fremont') reported today net income of $14,518,000 for the first quarter of 2001. This was comprised of net income from continuing operations of $12,082,000 and an after tax gain on the extinguishment of debt of $2,436,000. On a per share basis, Fremont ...Read More