Monthly Archives: <span>June 2011</span>

Declarations

Don’t Think About “It’s come down from grandparents, great grandparents, and they never bothered to insure it. I think the general public finds insurance complex, confusing, something they don’t want to think about.” —Larry Cox, a University of Mississippi professor, …

Medical Marijuana Raid Coverage to Ease Worries of Dispensary Owners

Medical marijuana dispensary owners face a variety of risks because of the controversy around the products they sell. Even when they are doing everything right in terms of following proper city ordinances and state regulations, there is still the potential …

2011 on Pace to Be Deadliest U.S. Tornado Year

The tornado that raked Joplin, Mo., was the deadliest single twister in the United States since 1953, putting 2011 on pace for a possible record year for tornado fatalities, U.S. weather experts said. As of May 25, this is the …

Is $8 Billion Material? A Look at Year-End 2010 Reporting of Loss and Loss Adjustment Expense Reserve Adequacy

Loss and loss adjustment expense reserve development has traditionally been the focus of actuaries, auditors and financial analysts. Statutory insurance accounting financial reporting contains several measures that can be utilized to evaluate the adequacy and accuracy of prior period estimates …

States Hit Hardest by Recent Tornadoes Among Least Insured

Many of the states hammered by what’s already the deadliest year for tornadoes in more than half a century have among the nation’s highest rates of homes without hazard insurance despite being among the most twister-prone, data analyzed by The …

Workers’ Comp TV Show Begins Filming

Hollywood thinks workers’ compensation can be funny. Workers’ Comp, a half-hour TV comedy about crazy employees handling absurd and often-fraudulent insurance claims from injured workers, began filming pilot episodes in Bradenton, Fla., recently. The independently produced show centers on the …

Hulk Hogan Loses Fight Against Insurance Agency

A Pinellas County, Florida judge dismissed a lawsuit filed by Terry Bollea, better known as celebrity wrestler Hulk Hogan, in a matter stemming from his son’s 2007 car crash that left passenger, Nick Graziano, with permanent brain damage. Though umbrella …

Risky Decisions

All the devastation from natural disasters that have occurred across the nation in recent months illuminates the fact that many, many homes across the United States are either uninsured or underinsured. Violent weather and flooding have been unusually intense this …

Catastrophes Issue Wake-Up Call on Supply Chain Risks

The Japanese earthquake and tsunami that occurred in March 2011, as well as intense spring weather, served as a wakeup call of sorts for businesses vulnerable to supply chain exposures: It’s important to prepare for and insure against disruptions to …

Obama Consoles Tornado-Ravaged Missouri City

Exactly a week after the Missouri city of Joplin was nearly leveled by the deadliest tornado to strike the United States in decades, President Barack Obama visited the area to offer hope to survivors and promises of help. On May …