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10MBIA Announces Conclusion to Review by Independent Consultant
Business Wire via Yahoo! Finance (Jul 25, 2007 07:56 AM)
ARMONK, N.Y.----MBIA Inc. and MBIA Insurance Corporation announced today that the Independent Consultant, who was retained by MBIA pursuant to its previously announced settlement with the Securities and Exchange Commission , the New York Attorney General's Office and the New York State Insurance Department , has completed his review.
Hartford settles insurance fraud claims
St. Louis Post-Dispatch (Jul 23, 2007 04:42 PM)
Illinois Attorney General Lisa Madigan said today that Hartford Financial Services Group will pay $5 million to policyholders to settle allegations that it paid off brokers to steer customers to particular insurers.
FTC Study Confirms That Credit-Based Insurance Scores Mean African Americans and Hispanics Pay More for Auto Coverage
PR Newswire via Yahoo! News (Jul 24, 2007 01:04 PM)
A study released today by the Federal Trade Commission confirms that African American and Hispanic drivers pay more for auto insurance because insurers use credit scores to determine premiums. The use of credit scores in insurance has long been a controversial practice because of its discriminatory impact on low income and minority families.
MBIA Says Accounting Review Is Clean
AP via Yahoo! Finance (Jul 25, 2007 09:49 AM)
Insurance holding company MBIA Inc. said Wednesday an independent consultant hired to assess certain company accounting and disclosures found they were consistent with generally accepted accounting principles and federal securities laws.
Consumer and Civil Rights Groups Reject Federal Report on Insurance Credit Scoring
PR Newswire via Yahoo! News (Jul 24, 2007 08:58 AM)
Representatives of consumer and civil rights organizations today condemned a congressionally-mandated report on insurance credit scoring by the Federal Trade Commission (FTC) as biased insurance industry propaganda. The groups called for Congress to reject the defective study and ban the use of credit scoring in insurance.
Tips on avoiding hasty health decisions
Stuttgart Daily Leader (Jul 24, 2007 10:01 AM)
Medicare Advantage plans, private insurance plan options available to Medicare beneficiaries, are some of the fastest growing segments of the Medicare market and Arkansas Attorney General Dustin McDaniel issued a consumer alert to help some elderly consumers not become victim to some of these pitfalls that occasionally plaque these plans.
FTC backs use of credit scores by auto insurers
Boston Globe (Jul 25, 2007 07:41 AM)
The Federal Trade Commission said yesterday that credit scores are valid predictors of future auto insurance claims, but they tend to penalize African-Americans and Hispanics more than whites and Asians.
Five accused of unemployment benefits fraud
Newsday (Jul 25, 2007 12:37 PM)
Five people accused of fraudulently accepting state unemployment benefits face felony charges of grand larceny and offering a false instrument for filing, Nassau County District Attorney Kathleen Rice said Wednesday.
Okla. Employment Service Owners Convicted of Workers' Comp Fraud
Insurance Journal (Jul 25, 2007 09:28 AM)
A federal jury in Oklahoma convicted the owners of a Norman employment service of defrauding businesses by billing them for workers' compensation insurance coverage that didn't exist. The panel fo
Mich. Republican Activist Pleads Guilty To Sexual Battery
ClickOnDetroit (Jul 25, 2007 10:06 AM)
An attorney who formerly led a Michigan young Republican organization pleads guilty in Cleveland to sexual battery.