Massachusetts saw the largest drop in auto insurance premiums in a report by the National Association of Insurance Commissioners.
Archives for 2012
Guilty Pleas for Felony Premium Fraud in Misclassifying Workers as Independent Contractors
January 17, 2012 – Shawn Bryan and Antoinette Capurso-Bryan, both of Newton, and their company, Newton Contracting, of 69 Howard Street, Watertown, pleaded guilty in Suffolk Superior Court to indictments arising out of the misclassification of workers as independent contractors. Eight counts in the indictments alleged a felony of “misclassifying employees” for purposes of worker’s […]
Life Agent Loses $1,500,000 Appeal on Misrepresentation Suit over Policy Sold to Uncle; SJC Makes First Ruling on Life and Annuity Rescission Statute
January 13, 2012 – The Supreme Judicial Court has affirmed the award of damages, prejudgment interest, punitive damages, attorney’s fees and costs totaling over $1.5m against a Massachusetts life insurance agent, Frederick V. McMenimen, III. The court also reversed the judgment dismissing the G.L. c. 93A claims against three subsidiaries of Nationwide Life Insurance Company […]
Calianos Agency loses breach of contract claim against Commerce on changeover to MAIP
January 11, 2012 – The insurance agency headed by the president of the Massachusetts Urban Agents Association, Jason Calianos, has lost a bid to have the Superior Court rule that the agency’s ERP contract with Commerce Insurance continued in force after the establishment of the MAIP. Jason Calianos d/b/a Calianos Insurance Agency, Inc. sued Commerce […]
Auto Insurance Carries Personal Line Ratings for 2012 – Commercial Lines to Struggle – A.M. Best
January 9, 2012- Today, A.M. Best Co. released its general outlook for 2012 U.S. property/casualty ratings. The good news was company balance sheets are still strong but, as everyone has learned over the last four years, at risk to sudden weakening based upon some unexpected financial tsunami. Auto Insurance leads the way in personal lines. […]
