Monthly Archives: <span>May 2005</span>

State Laws Vary on Driving Distractions

New Hampshire is the only state that doesn’t require adult motorists to wear seat belts, but it does ticket drivers for eating, drinking, talking on a cell phone or fussing with their makeup while behind the wheel. The state whose …

Fire Season Arrives – Are Flash Floods Next?

The Pacific Northwest is coming out of one of its driest winters on record, and emergency responders are bracing for an early and possibly severe wildfire season. But even in the midst of a drought, spring rains and thunderstorms can …

PEMCO’s Northwest Insurance Poll Notes Trends in Cell Phone Usage

According to PEMCO’s 2005 Northwest Insurance Poll, four out of five Washington drivers believe that talking on cell phones while driving should be legal only with hands-free devices, or made illegal altogether, but changes to state law won’t likely happen …

Sarbanes Oxley Drives Up Large Companies’ Audit Costs by $1.4 Billion

Fortune 1000 companies’ auditing costs have increased by $1.4 billion collectively so far, and much of this increase is in response to the corporate governance act known as Sarbanes-Oxley, according to University of Nebraska at Omaha researchers. The insurance industry …

Adjuster, Accomplices Arrested for Fraud

A Fullerton insurance claims adjuster and two accomplices were arrested April 8 by California Department of Insurance fraud investigators for their alleged participation in an auto insurance fraud scheme. According to investigators, Leonardo Davinci Hines was employed by Robert Moreno …

Life Settlements – Understanding the Risks and the Benefits

What is a life settlement? Simply put, a life settlement is the sale of an unwanted, no longer effective life insurance policy. It may potentially be a better solution with a greater cash settlement than lapsing or surrendering a policy. …

Life Settlements – Understanding the Risks and the Benefits

What is a life settlement? Simply put, a life settlement is the sale of an unwanted, no longer effective life insurance policy. It may potentially be a better solution with a greater cash settlement than lapsing or surrendering a policy. …

Alaska Workers’ Compensation Bill Goes into Overtime

An Alaska committee of House and Senate members was unable to hammer out a compromise plan to revise workers’ compensation laws, leaving work on the bill to be completed during a special session scheduled to take place May 11. Senators …

PCI: States Need to Take Uniform Approach on Finite Risk Inquiries, Rules

As an increasing number of state regulators conduct inquiries and tighten accounting rules and reporting requirements for finite reinsurance transactions, one P/C trade group is urging regulators to take a consistent approach and avoid creating a crazy-quilt of confusing investigative …

Business Moves

ABD to Purchase Lucini/Parish Insurance Greater Bay Bancorp, a $6.9 billion financial services holding company, reported that its subsidiary, ABD Insurance and Financial Services, a provider of global risk management and employee benefits solutions, has signed a definitive agreement to …