BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
ATLANTA—Georgia Insurance Commissioner John Oxendine has opened a criminal investigation into the business practices of the former CEO of Southeastern U.S. Insurance Inc.
The investigation of M. Clark Fain III comes after the October liquidation of SEUS, a workers compensation insurer that first was licensed in 2001 as a captive insurer.
The department said it found that the insurer was “overstating assets while significantly understating liabilities” in the inquiry started by what it called a “questionable transaction” regarding a hunting club that SEUS owned.
“I can only compare the bookkeeping methods of the company to those of Enron,” Commissioner Oxendine said in a Tuesday statement announcing a fraud unit investigation he ordered of Mr. Fain's business practices.
SEUS had roughly 209 workers comp policyholders when a judge ordered it into liquidation, the insurance commissioner said.