A New York lawsuit has accused home care agencies Edison Home Health Care and Preferred Home Care oh New York of using a captive insurance company Healthcap Assurance to cheat their workers out of millions of Wage Parity Act (WPA) dollars, which would be paid in wages or employee benefits.
Arthur J Gallagher has hit back at the Arizona-based lawsuit accusing it and its subsidiary Artex Risk Solutions of selling and managing illegal tax-advantaged captives, the firm said in a statement.
Insurance agency Alera Group has acquired Bailey & Company Benefits Group, and employee benefits firm based in Ohio.
The Washington Office of the Insurance Commissioner is offering captives that have unlawfully insured any risk in the state in the past 15 years a self-reporting period of 18 months to pay significantly reduced fines.
Arthur J Gallagher has entered into an agreement to acquire Captive Insurance Company Design and Operations, a Chicago-based captive consultant formed by Clarity Group in 2002, with a focus on medical and professional liability.
An Arizona-based lawsuit is seeking damages from a group of defendants including Artex Risk Solutions, Arthur J Gallagher among other captive service providers for conspiring to design, promote, sell, implement and manage illegal tax-advantaged captive insurance strategies using unlawful attempted 831(b) elections.
Insurance programme provider Energi has appointed Michael Windstein as chief underwriting officer.
Ratings agency AM Best has affirmed the financial strength rating of B++ (Good) of AES Global Insurance Company (AGIC), the Vermont-based single-parent captive of power company AES Corp.
Berkley Accident and Health, a subsidiary of WR Berkley, has appointed Brad Nieland as president and CEO
Bermuda-based pension risk transfer provider Athene has agreed a pension plan termination transaction with US pharmaceutical company Bristol-Myers Squibb.