Monthly Archives: <span>July 2010</span>

Virginia Police Crackdown Nets 6K Tickets, Arrests

A weekend enforcement effort by the Virginia State Police on Interstates 81 and 95 resulted in more than 6,000 summonses and arrests. More than half of the tickets were for speeding. State police also reported stopping 628 reckless drivers and …

Another Agency Probing Pittsburgh-Area Coke Blast

Another federal agency has joined the investigation of an explosion at a Pittsburgh-area coke plant that injured 20 workers last week. The U.S. Chemical Safety Board has sent a three-person team to U.S. Steel’s Clairton Coke Works to determine whether …

Wis. Supreme Court Sides with Physicians in Med Mal Trust Fund Fight

The Wisconsin Supreme Court has decided that the state’s taking of $200 million from the Wisconsin’s Injured Patients and Families Compensation Fund (IPFCF) to help balance the general budget was unconstitutional. The state must now pay back the full amount …

West Virginia Firefighters Threaten Strike Over Liability Insurance

Volunteer firefighters in West Virginia are threatening to stop answering calls if the Legislature doesn’t exempt their supervisors from liability for injuries to firefighters. The West Virginia State Fireman’s Association says insurers are declining to provide broad form liability insurance …

Judge Approves Goldman’s $500 Million Settlement with SEC

A federal judge has approved a $550 million settlement between Goldman Sachs and the U.S. Securities and Exchange Commission related to civil fraud allegations in a subprime mortgage product. U.S. District Court Judge Barbara Jones said she and the Southern …

Republicans for Georgia Insurance Post Face Runoff; Oxendine Loses

State Sen. Ralph Hudgens garnered about 21 percent of the vote while Atlanta attorney Maria Sheffield grabbed about 20 percent, setting the stage for an Aug. 20 runoff in the Republican race for Georgia insurance commissioner. Georgia requires a candidate …

Private Firm WSI Cuts U.S. Hurricane Forecast to 19 Named Storms

Private weather forecaster WSI Corp cut its forecast for named storms in the 2010 Atlantic hurricane season on Tuesday, but still sees an active season with water temperatures and wind conditions conducive to violent storms. In its latest tropical storm …

Obama, Cameron Push Sanctions on Iran, Including Insurance

Britain and the United States said Tuesday it was not too late for a peaceful solution to the crisis over Iran’s nuclear program, but said they were determined to enforce new sanctions. The United Nations approved sanctions against the Islamic …

Aon Benfield Launches ‘ImpactOnDemand’ Cat Risk Management Tool

Aon Benfield announced the launch of ImpactOnDemandSM , which it described as a “new generation of its flagship risk management tools, which continue to allow insurers to visualize, quantify and connect their exposures to catastrophic events. Insurers can upload their …

Is Global Warming Causing More Frequent, More Powerful Hurricanes?

A workshop held in Lloyd’s Old Library sought to answer that question, by examining the impact global warming could have on the hurricane season. Lloyd’s cited the fact that “analysis of weather patterns and damage losses over the last 100 …