Tokio Marine completes U.S. deal (Business Insurance)

Published - 12/01/2008 01:18 PM

BALA CYNWYD, Pa.—Philadelphia Consolidated Holding Corp. said Monday it has finalized its merger with Tokio Marine Holdings Inc. The $4.7 billion deal, which was announced by Tokio Marine in July, was approved by the Pennsylvania Insurance Department and the Financial Services Agency of Japan. 

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Insurer Casts Off Long-Term-Care Policies (WallStreet Journal via Yahoo! Finance)

Published - 12/02/2008 08:56 PM

A major insurer dumped a chunk of its long-term-care policies into an independent trust, putting policyholders at risk of reduced benefits or big premium increases. 

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TO LEARN MORE (Erie Times-News)

Published - 12/01/2008 10:16 AM

At Michael T. Joyce's trial, the prosecution elicited testimony that revealed that Erie Insurance Group based its decision to settle Joyce's claim, in part, on Joyce's position as a Superior Court judge with the power to hand down rulings that could affect insurance companies' bottom lines. 

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Analyzing ISO ratings: System evaluates ability to extinguish fires (The Uniontown Herald Standard)

Published - 11/30/2008 08:08 AM

An Insurance Services Office rating, an evaluation of a municipality's ability to extinguish fires, can affect homeowner insurance premiums, but local insurance agents also said property owners' claim histories have a larger impact on premiums. 

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Insurance companies pay settlements over claims investigations (Lincoln Journal Star)

Published - 11/29/2008 12:58 AM

Two insurance companies have settled with the Nebraska Department of Insurance after the agency investigated consumer complaints. Conseco Health Insurance Co. agreed in October to pay a $25,000 fine and cooperate with the department on future complaints. 

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Deloitte settles Reliance case with Pennsylvania (Business Insurance)

Published - 11/25/2008 11:44 AM

HARRISBURG, Pa.—Chicago-based Deloitte & Touche L.L.P. has agreed to pay the Pennsylvania Insurance Department $40 million for the accounting firm's role as an outside auditor of the failed Reliance Insurance Co., now in liquidation, the commissioner announced Monday. 

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Deloitte to pay $40M to Pa. in Reliance Insurance settlement (BizJournals)

Published - 11/25/2008 02:51 AM

The Pennsylvania Insurance Department said Monday it has finalized a $40 million settlement with Deloitte & Touche in connection with the accounting firm’s auditing services for the defunct Reliance Insurance Co. 

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Auditor to Pay $40 Million Settlement in Case of Failed Reliance Insurance (Insurance Journal)

Published - 11/24/2008 03:31 PM

Pennsylvania Insurance Commissioner Joel Ario has announced a $40 million settlement with Deloitte & Touche LLP in connection with the firm's auditing services for Reliance Insurance Co., which got in 

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Business Briefs (The Leader Times)

Published - 11/26/2008 07:52 AM

Sgt. Sally Dougherty Clawson had a total of 25 years with the Pennsylvania State Police and she retired from the Butler Barracks at 12:07 p.m. Sept. 27, the time of her daughter's birth and date of birth. 

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State reaches financial accord (The Morning Call)

Published - 11/25/2008 10:52 AM

Firm allegedly knew, didn't report failing insurance company. The financial services firm Deloitte & Touche has paid the state $40 million to settle a six-year-long case connected to the largest insurance company failure in Pennsylvania history. 

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