SANTA ANA – A 41-year-old woman pleaded guilty Wednesday to setting her Orange County homes and car on fire to reap hefty insurance payments. Andrea Michelle Robinson also admitted welfare fraud while not disclosing her income from insurance claims. She was scheduled to be sentenced Jan. 21 for her guilty […]
Insurance
New York Insurance Agent Couple Charged With Defrauding Clients
New York authorities announced that a Rochester, New York, couple has been charged with defrauding their Rochester insurance agency clients. Gary Gubiotti and Bonnie Gubiotti, both 67, are accused of stealing more than $150,000 from clients by falsely inflating insurance premiums, failing to remit refunds, and forging finance agreements from […]
Insurance mixup leaves retirees without coverage
By Susan Sherring City retirees are crying foul after an insurance switch to a new company has left them in the lurch — some even without coverage. And the seniors are now being forced to pay for prescriptions and hospital services out of their own pockets on their reduced income. […]
Will insurers committee do the magic?
Leave a comment The inauguration of insurers committee by the National Insurance Commission (NAICOM) is the latest step taken to reposition insurance practice which over the years has been bedeviled with numerous challenges. Chuks Udo Okonta in this report examines the initiative and other sundry matters. Over the years, the […]
NAICOM threatens to unveil underwriters’ misdeeds
Kari Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) has said it is considering the misdeeds of errant underwriters and that they would be made public very soon. The Commissioner for Insurance Mohammed Kari, disclosed this at a forum in Lagos, while reacting to allegations by shareholders […]
Poor NSE performance cuts insurers’ earnings
By LOLA OKULO POOR performance by the stock market has cut insurance companies’ investment earnings by nearly half, according to the latest industry report. The Insurance Regulatory Authority’s industry report for third quarter released on December 21 shows investment income for the industry dropped by 48.62 per cent to Sh12.77 […]
Storm Frank batters northern Britain, experts see costs rising
Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an extraordinary period of severe weather and flooding in December, with […]
Change: Insurers seek cover for govt’s assets
Ahmed Leave a comment Chuks Udo Okonta In line with the change mantra, insurance operators have called on government at all level to procure insurance cover for their assets as done in other climes. The Director-General Chartered Insurance Institute of Nigeria (CIIN) Kola Ahmed, said this in an interview with […]
Insured catastrophe losses down again to $27bn in 2015: Munich Re
Losses from natural catastrophes in 2015 resulted in just $27 billion of impact to the insurance and reinsurance industry, according to Munich Re, lower than the figure seen in 2014 and the lowest since 2009. Global reinsurance firm Munich Re noted this morning that the re/insurance sector will find no […]
Shareholders slam insurance companies’ managers on dividend blackout
Shareholders ZAKA KHALIQ (NEWSWATCH TIMES NEWSPAPER) The shareholders of insurance stocks in the country are angry with the management of underwriting firms for their failure to declare dividend in the 2014 financial year, as most of the insurers are yet to declare dividend in the last four years, Newswatch Times […]
