Monthly Archives: <span>March 2007</span>

Iowa Lawsuit Alleging Fatal Fire from Ford Pickup Settled

An eastern Iowa man whose wife died in a fire he said was caused by a Ford pickup truck has settled a lawsuit with the auto manufacturer. Earl Mohlis, 78, said Monday he still cries over the loss of his …

New Insurer Caters PUREly to Florida High Net Worth Clientele

Florida’s wealthy and privileged residents have a new personal lines insurer promising to save them money on premiums for their homes, cars and belongings. The company will sell property/casualty insurance for high value homes, cars, jewelry, art, and personal excess …

The Hartford Sells Medical Stop Loss Business to UnitedHealth Unit

The Hartford Financial Services Group, Inc. has agreed to sell its medical stop loss insurance business to National Benefit Resources, Inc. (NBR), a subsidiary of UnitedHealth Group, Inc. The transaction is expected to close in early April. The terms were …

22 Die, 118 Survive Java Air Crash

118 people miraculously escaped the flaming wreck of a Garuda Airlines Boeing 737-400, which slid off the runway at Yogyakarta airport in Java while landing. 22 people, however, died in the crash. According to news reports, survivors said the plane …

Marsh Comments on Effect of EU’s ‘REACH’ Regulations

On 29 October 2003, the European Commission adopted a proposal for a new EU regulatory framework for chemicals. The new system, dubbed REACH (Registration, Evaluation and Authorization of CHemicals), outlined a complex regulatory system. Basically it mandates that enterprises who …

West Va.’s Brickstreet Mutual Reports Profitable First Year

The company that runs the state’s workers’ compensation program said it earned $70.7 million during its first year in business. The profit will help build BrickStreet Mutual Insurance Co.’s reserves to take care of long-term debt, company spokesman Andy Wessels …

Panel Criticizes Spitzer’s Case Over Greenberg’s Handling of Charity

One of Eliot Spitzer’s more contentious cases from his years as attorney general was criticized this week by a panel of retired judges who discounted his claims that insurance executive Maurice R. “Hank” Greenberg cost his mentor’s charity $6 billion. …

N.J. Senate Panel Kills Bill to Ban Use of Education, Job in Rates

A bid to make it illegal for New Jersey auto insurers to use a driver’s job and education to decide rates failed Monday. The Senate Commerce Committee voted against releasing a proposal to ban car insurers from weighing such factors. …

Judge Rules Truck in Conn. Avon Mountain Crash Was Uninsured

A federal judge has ruled that the insurance company for a Bloomfield trucking company involved in a fiery fatal crash on Avon mountain does not have to pay victims and families of those killed. The ruling involves American Crushing and …

Promina Shareholders Accept Suncorp-Metway Offer

Shareholders of Australian general insurer Promina Group Ltd. on Monday approved a proposed 7.4 billion Australian dollar ($5.75 billion) takeover by bank and insurance company Suncorp-Metway Ltd. Of the 8,922 shareholders who cast votes on the proposal, 94.2 percent were …