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

Pennsylvania’s Rhyming Justice Pens Insurance Fraud Opinion

This judge’s rulings, for better or worse, are poetic justice because they’re in verse. A state Supreme Court justice known for opinions written in rhyme has done it again, producing six pages of verse last Thursday in the case of …

Insurer for Sandusky Charity in Pennsylvania Argues Over Payouts

An insurance company for a charity founded by Jerry Sandusky argued in a federal complaint last Friday that it should not have to pay legal expenses or claims for the former Penn State assistant football coach now accused of molesting …

Travelers Indemnity Says $1M Policy Won’t Cover Penn. Turnpike Mess

The insurer of a trucking company whose tanker leaked sticky black goo onto the Pennsylvania Turnpike in November says in court filings that its $1 million policy likely won’t be enough to cover roughly 1,000 claims for damaged vehicles. The …

Central Oklahoma Homes ‘Quaked’ a Bit on Christmas Day

Some Oklahoma residents may have felt their homes shake on Christmas Day, but it wasn’t because reindeer had landed on the roof. The U.S. Geological Survey reports a 3.3-magnitude quake struck around 8:10 a.m. on Sunday 5 miles northwest of …

New Orleans Hurricane Wall Creates Prime Fishing Spot

Anglers in the wetlands surrounding New Orleans never have to look very far to be reminded they are living the ultimate paradox: They are enjoying the nation’s most prolific coastal fishing in the midst of a terminal environmental disaster. This …

Ratings Recap: Evergreen Re, Asian Re, Toa Re, Meritz

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Bermuda-based Evergreen Reinsurance Company, Ltd. (ERCL), both with stable outlooks. The ratings reflect ERCL’s “solid risk-adjusted capitalization, consistently profitable operating performance …

Best Affirms Ratings of Sompo Japan and U.S. Subs; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Sompo Japan Insurance Inc. Best also, affirmed the FSR of ‘A+’ (Superior) and ICRs of “aa-” of Sompo Japan …

Best Affirms Wind River Re, U.S. Subs Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S. subsidiaries. Best also affirmed the ICR of “bbb” of the ultimate …

Best Affirms NIPPONKOA’s ‘A’ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Japan’s NIPPONKOA Insurance Company Ltd, both with stable outlooks. The ratings reflect NIPPONKOA’s “favorable risk-adjusted capitalization, conservative underwriting leverage and expected …

Financial, Legal Woes Dogged Breast Implant Company

Signs of legal problems and financial losses surrounding the French breast implant manufacturer at the heart of a scandal affecting hundreds of thousands of women worldwide can be traced back as far back as 2003, regulatory filings show. France’s Poly …