Phoenix Cos. earnings misstated by $46 million

The Phoenix Cos. overstated its fourth quarter and 2008 earnings by $46 million as the result of an error in accounting on its income taxes, the insurer said.

The company revised ...  Read →  Read Story

Former Pennsylvania judge sentenced to prison for insurance fraud

A retired Pennsylvania Superior Court judge was sentenced to 3 years and 10 months in prison for collecting $440,000 in fraudulent insurance claims.

Michael T. Joyce, 60, was sentenced Tuesday (March ...  Read →  Read Story

IWIF picks investment firms to meet with legislative mandate

IWIF, Maryland’s largest provider of workers’ compensation insurance, is partnering with four minority-owned investment firms in response to a Maryland General Assembly mandate last year.

The firms – Brown Capital Management, ...  Read →  Read Story

Advocates tout bill to disclose slaveholder insurance policies

ANNAPOLIS – Law students and civil rights activists endorsed a bill Tuesday (March 10) that would require insurance companies to report pre-1865 slaveholder insurance policies in order to do business ...  Read →  Read Story

High Point kicks off partnership with soccer group

High Point Auto Insurance of Red Bank, N.J., has partnered with The New Jersey Soccer Group, offering its members a special discount on car insurance.

The New Jersey Soccer Group, headquartered ...  Read →  Read Story

Retirement plan sponsors fear ‘unintentionally harmful consequences’ in Obama’s budget

President Obama‘s budget on the surface appears likely to help people save for their retirements, but Congress must carefully explore the proposals to make sure they don’t have “unintentionally harmful ...  Read →  Read Story

Ohio insurance agent cheats clients out of nearly $5 million

A former Maineville, Ohio, insurance agent pleaded guilty charges related to defrauding at least 10 victims out of nearly $5 million by getting them to invest their inheritance proceeds.

William R. ...  Read →  Read Story

UnitedHealthcare eyes future growth in Pennsylvania

James P. Cronin

As other health insurers in the region have cut jobs and services, UnitedHealthcare of the mid-Atlantic is going the opposite direction.

The subsidiary of Minnesota-based UnitedHealth Group is ...  Read →  Read Story

Insurance payrolls fell by 6,200 in February

The nation’s insurers cut 6,200 positions in February, according to the U.S. Bureau of Labor Statistics.

In all, the industry saw its payrolls shrink to 2.282 million workers.

When compared to the ...  Read →  Read Story

New York health fraud investigators nabbed 171 suspects, $9 million in 2008

New York’s health insurance fraud investigators recovered $9 million and initiated 171 arrests in 2008, the New York State Insurance Department reported.

A total of 14,142 reports of suspected health care ...  Read →  Read Story