Two firms have announced separate investigations into possible claims of wrongdoing against officers and directors of a specialty finance company that proves premium financing of insurers’ individual life insurance policies.

A bill prohibiting specific uses of funds from the Maryland Automobile Insurance Fund may not have been acted upon this year, but the anger by state legislators is likely to result in the matter being revisited in the next General Assembly session.

Maryland’s Court of Special Appeals has affirmed a lower court’s ruling that Maryland regulators were correct in rejecting a premium financing agreement over the way it planned to handle refunds to consumers.

The executive director of the Maryland Automobile Insurance Fund said there is “a misunderstanding” among the sponsors of a state Senate bill that would restrict the use of funds by the state’s auto insurer of last resort.

An independent agent from Louisiana is under arrest in what state officials allege was a detailed scheme to steal $2.9 million by issuing 85 fraudulent commercial auto policies.

A Northbrook, Ill.-based company has completed its acquisition of the majority of the U.S. life insurance premium finance assets of two subsidiaries of American International Group for $679.5 million in …  Read →

The Maryland Insurance Administration is asking a circuit court judge to reconsider his ruling that an impartial party determine whether nine premium finance companies are violating state law.

The outcome of …  Read →

In response to complaints about producers steering clients into premium finance arrangements, Maryland Insurance Commissioner Ralph S. Tyler wants to force agents to provide full disclosure of all options to …  Read →