Regional news: West
The owner of a California cellular telephone retailer was sentenced to three years and four months in state prison for his involvement in more than 2,000 fraudulent insurance claims, costing more than $700,000.
Senators urge leadership to vote on long-term NFIP extension
A letter, signed by a coalition of Republican and Democratic senators, asks Senate leadership to bring a long-term reauthorization of the National Flood Insurance Program to the floor for a vote as soon as possible.
Insurer fined for charging unapproved rates on students’ policies
An Indiana-based insurer agreed to pay the $100,000 fine for charging unapproved rates to thousands of medical insurance policies for college students in Washington State.
California’s insurance commissioner announced the end to a pair of civil suits, filed over his agency’s efforts to force insurance companies to stop investing in corporations working in Iran.
Alliant buys Thesco, seeking more of Northeast’s 401(k) marketplace
The largest specialty insurance brokerage in the U.S. acquired a New York-based 401(k) investment and advisory firm, seeking to expand its presence in the Northeast.
Brief: If individual mandate is illegal, health reform law must die
A Washington, D.C.-based advocacy organization says that the federal health reform should be declared unconstitutional because it is cannot function without the individual mandate, which the group also argues is unconstitutional.
A Red Rock, Ariz., man accused of posing as a lawyer in a $12,500 insurance scam was indicted on charges of fraud by an Arizona grand jury.
States make Prudential alter its unclaimed life insurance practices
A total of 19 states and Washington, D.C., reached an agreement with The Prudential Group, one of the largest life insurance companies in the U.S., in a case involving its unclaimed property practices.
LPL buying Maryland-based firm providing high net-worth solutions
LPL Financial, the nation’s largest independent broker-dealer, plans to acquire Fortigent, a Rockville, Md.-based provider of high-net-worth solutions and consulting services to RIAs, banks, and trust companies.
GEICO was fined $100,000 by Washington State officials and ordered to refund about $7.5 million in overcharges to thousands of its customers in the state.
Federal health reform would add 10,000 jobs, $4.4 billion to Calif.
Lautenberg, Rubio want to cap TRICARE fees for military retirees
Health care cost at all-time high, despite lower rate of increase
Life insurers sell shares in British tech firm to Pa. company
FINRA estimate for IA SROs excludes monetary, administrative details
Most insurance agencies seeing better results than last year
Pa. broker adds $181,000 commission to $2.1M false insurance invoice
A.M. Best rates Pa.-based insurer’s outlook ‘negative’
With five-year plan stuck, House passes new short-term NFIP extension
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