Claims

Claims Magazine is twittering every day about breaking news and timely topics — not to mention keeping readers up to date on what’s being posted on propertycasualty360.com.

For property and casualty insurers, projecting compliance issues that might impact the business of insurance in 2011 essentially requires a “regulatory reflection” of the past year.

For property and casualty insurers, projecting compliance issues that might impact the business of insurance in 2011 essentially requires a “regulatory reflection” of the past year.

A two-year investigation by the California Department of Insurance’s Fraud Division has resulted in the arrest of 20 people allegedly involved in a Los Angeles-area auto insurance fraud ring that cost insurers more than $1 million.

While the entire year’s results are not in yet, the insurance industry should show significant financial gains for 2010 and its performance will be the best it has experienced since the beginning of the financial crisis, said an industry observer.

Allstate Insurance Co. filed a federal lawsuit against Countrywide Financial Corp. late last month, seeking damages related to its purchases of more than $700 million in mortgage-backed securities from the company.

Liberty Mutual reached an agreement with two state attorneys general to pay a total of $7.5 million to settle allegations it engaged in a bid-rigging and kickback scheme with insurance brokers.

While market conditions, the weak economy and catastrophic events were among the most frequent topics NU reporters wrote about last year, the article that clearly stood out for our readers in 2010 dealt with insurance agency service issues.