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Insurance fraud activities bring arrest of a Los Angeles man

August 21, 2014August 21, 2014 H. Cutner

The individual’s alleged schemes occurred outside of California and were focused on residents of Louisiana. A man from Los Angeles, California has now been placed under arrest by authorities in New Orleans after having allegedly been taking part in an insurance fraud scheme that involved the sale of fake employer’s liability and workers compensation policies throughout Louisiana. This insurance scam announcement was made by Attorney General Buddy Caldwell. The individual in this insurance fraud case, fifty year old Terry Frances, has now been charged with five separate counts of theft…

Commercial lines insurance sector continues to see positive growth

April 11, 2014April 9, 2014 Logan B.

Fitch Ratings predicts the continue of strong growth in the commercial lines sector Fitch Ratings, a global ratings agency, has released an update for its commercial lines insurance market report. The report highlights a growing trend of profitability and expansion for the commercial lines sector. The commercial lines sector is currently rates as “Stable” by Fitch, which predicts that the sector will continue to see strong progress in the coming months. The agency’s outlook on the sector is supported by growing profitability that insurers have reported over the past several…

The Effects that Cheap Business Insurance Can Have on Your Company

January 25, 2014April 18, 2014 Guest Author

Every so often will be asked by startups and even established companies: “can you get me cheap business insurance?” At first I’m sort of offended that someone would ask me that, but then I remember that it’s not the customer’s fault for thinking that “cheap is good” – it’s actually the insurance industry’s fault. The insurance industry has been commoditizing insurance so much over the past ten years – especially auto insurance that it’s hard not to think that a priority of any type of insurance is that it has…

Louisiana workers compensation to lower its rates

December 31, 2013December 31, 2013 G. Turner

Insurance Commissioner Jim Donelon - Insurance News

This form of insurance is set to decrease by 5 percent within 2014, which will certainly be welcome. Jim Donelon, the state commissioner has now announced that Louisiana workers compensation rates will be decreasing as of May 1, 2014, by an average of 5.1 percent. The decrease was approved by the commissioner following a recommendation by the NCCI. He gave the nod to the reduced Louisiana workers compensation rates after the National Council on Compensation Insurance made its recommendation for a 5 percent reduction as a result of notably improved…

Workers compensation board in Alaska moves to lower costs

June 25, 2013June 24, 2013 G. Turner

Last week, they were seeking input from the public in order to gain ideas to reduce the rising expenses. The Alaska Workers Compensation board reached out to the public last week to help them to build ideas and receive the input of residents to be able to more effectively manage the rising costs associated with the coverage. Meetings were held by the board members in Anchorage, Juneau, Fairbanks, and Kenai. The opportunity was taken in those locations to help to gain ideas to help to stem the rising costs associated…