Monthly Archives: <span>October 2012</span>

Drought Crushes Local Beef Industry In Hawaii

National interest in locally grown food and grass-fed beef are catching on in Hawaii, offering ranchers an opportunity to sell cattle in the islands and send fewer of them to states like California and Kansas. But crushing drought is making …

Troubled Calif. Nuke Plant Aims To Restart Reactor

The operator of California’s troubled San Onofre nuclear power plant on Thursday proposed to restart one of the facility’s twin reactors after concluding it could be run safely despite damage to scores of tubes that carry radioactive water. A plan …

Father and Daughter in Central Calif. Workers’ Comp. Fraud Must Repay Over $600K

Jerry Buffington, 69, and Cynthia Russell, 47, have pled guilty in Kern County Superior Court to one count each of workers’ compensation insurance premium fraud and eight counts each of tax evasion and were ordered to pay restitution to California’s …

Florida PIP Reforms Reduce Hikes But Not Many Premiums Thus Far

Florida regulators are optimistic that the state’s no-fault auto reforms are having a positive effect on the market and will eventually cut premiums for drivers. But for now they are telling the public that the recent law changes will likely …

Zach Scruggs Denied Appeal on Judge Bribery Conviction

The full 5th U.S. Circuit Court of Appeals has refused to hear an appeal from Zach Scruggs, who was implicated as having knowledge of a Mississippi judicial corruption scheme that toppled his father, plaintiffs’ lawyer Richard “Dickie” Scruggs. A three-judge …

Kentucky Recommends Anthem Health Plan as Benchmark for Insurers

Kentucky has recommended that the Anthem Preferred Provider Organization serve as the benchmark plan for insurers in Kentucky under federal health care reforms. Anthem’s offerings would be the minimum level of benefits provided for individual and small group coverage under …

Miller Opens Paris Office

Specialist insurance and reinsurance broker Miller Insurance Services LLP has opened an office in Paris in a move to increase its reinsurance presence in Europe. Pierre Guntzberger will be based at the new office and will “work closely with the …

Secure Legal Title Launches Lloyd’s Coverage

Secure Legal Title Ltd., a London-based provider of legal indemnity and title insurance, announced the registration at Lloyd’s of “Secure Legal Title Cover,” which will provide legal indemnity and title insurance for commercial property in the UK and throughout Europe. …

Facebook IPO Lawsuits to Be Heard in Court in New York

Dozens of lawsuits against Facebook Inc., the NASDAQ exchange and various underwriters will be centralized before a federal judge in New York, who must sort through the legal aftermath of Facebook’s botched initial public offering. A panel of federal judges …

Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses

Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most costly occurred during a six-day …