10/01/2004
matter pushing for settlement.
Reliance started showing signs of financial cracks in 2000 succumbing to an insurance hard market participation in the ill-fated Unicover scandal and continued profligate spending by Saul Steinberg his sons and management team the DOI says using company money on
Category: News
09/23/2011
administration that vilified injured workers at the expense of the system even though the math behind the 2004 reforms never added up
And no one went chasing after the 400 BILLION that the Unicover Partners reinsurance fraud stole and moved off shore between 1993 and 2001 interesting timing between 400
Category: Forums
05/16/2012
longer function. Self insureds likewise make payments into guarantee systems to protect injured workers over the long term.This backstop was beautifully played out in the late 1990s when so many insurance companies fell victim to the intoxication of Unicover brew and laid so many claims into
Category: Industry Insights
08/17/2004
overall low premium pricing throughout the early and mid 1990's was the result of heightened commercial lines
market competition and overly generous reinsurance
market underwriting and pricing. Though not specifically identified Fitch intimates the huge Unicover reinsurance fiasco where reinsurance
Category: News
12/04/2014
. The company was hit hard by a tough insurance market and the Unicover reinsurance scandal.
The Property Casualty Insurance Association of America opines that its collapse was caused by mismanagement of its risks and the underpricing of policies although Pennsylvania regulators also levied
Category: News
11/18/2006
system on clever reinsurance chicanery see our various stories and articles on Unicover so they can make a half-billion dollars in fees Why isn't the Employer's Fraud Task Force and other self-appointed overseers of malicious intent and do-gooders directing their energies towards
Category: Industry Insights
12/31/2005
The following article is the sixth and final article in a series on national trends in workers' compensation. Part 1 reviewed the "The Social Contract" Part 2 discussed the Unicover debacle part 3 reviewed deregulation of the market in California the fourth part of the series looked at the stock
Category: Industry Insights
06/09/2010
The most immediate impact on reinsurance premiums is for oil operations obviously. But ultimately the grand scheme of spreading the risk hits all P&C lines and workers’ compensation which has seen its share of reinsurance supply and demand problems in the past following the Unicover
Category: Industry Insights
06/07/2010
the risk hits all P&C lines and workers compensation which has seen its share of reinsurance supply and demand problems in the past following the Unicover debacle is not immune.
Workers compensation known as a long tail line generally provides for medical attention through the life of the
Category: Forums
12/17/2005
The following article is the fifth in a series on national trends in workers' compensation. Part 1 reviewed the "The Social Contract" Part 2 discussed the Unicover debacle part three reviewed deregulation of the market in California and the fourth part of the series looked at the stock market and
Category: Industry Insights