Monthly Archives: <span>October 2013</span>

Study: Due to Rising Sea Levels, Small Storms Could Produce Significant Flooding

Almost a year after Superstorm Sandy, parts of New York and New Jersey are still recovering from billions of dollars in flood damage. And a new study says that in the future, storms smaller than Sandy may be able to …

Florida Man Gets 7 Years in New Jersey Insurance Fraud Scam

A Florida man who worked for a now-defunct southern New Jersey construction company has been sentenced to seven years in state prison for his role in a home-repairs scam.. The New Jersey attorney general’s office’s insurance fraud division says Marcin …

Settlement Reached in Vermont Asbestos Mine Cleanup

A settlement has been reached with the owner of a former asbestos mine in northern Vermont to help cover the costs of some pollution controls. Vermont Asbestos Group also has agreed to pursue $3.5 million in insurance money that could …

New York’s Top Court Clarifies Vandalism Insurance

The top New York court says property insurance against vandalism includes coverage for malicious damage that isn’t specifically aimed at the insured property. The ruling comes from a claim by Georgitsi Realty, owner of a four-story apartment building in Brooklyn, …

137,800 in Mississippi Fall in Health Insurance ‘Coverage Gap’

A new study shows 137,800 low-income Mississippians fall into a health insurance “coverage gap.” They’re currently uninsured. They earn too much to enroll in Medicaid but too little to qualify for government subsidies that would reduce their cost of buying …

Confusion Still Major Hurdle in Florida for New Health Care Law

As federal health officials work around the clock to fix technology glitches plaguing the website where U.S. citizens can obtain health insurance under the new federal law, many Floridians still have little understanding of how the law works. Trained counselors …

Alabama Coastal Counties Get FEMA Home Mitigation Grants

Alabama has received a federal grant of nearly $636,000 to help homeowners in the state’s two coastal counties retrofit their homes against wind damage. State officials and officials from Mobile and Baldwin County announced the grant last Friday in Mobile. …

Ratings Recap: QBE Optima, Aviva (Canada), Syndicate 609, Adamjee

A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Puerto Rico-based QBE Optima Insurance Company, both with stable outlooks. The ratings of QBE Optima reflect its “solid risk-adjusted capitalization, profitable …

Say Cheese: EU Strikes Trade Deal with Canada; Looks to U.S.

The European Union and Canada agreed a multibillion-dollar trade pact on Friday that will integrate two of the world’s largest economies and pave the way for Europe to clinch an even bigger deal with the United States. The deal will …

Reinsurers Get Down to Business in Baden-Baden; Willis Re Chairman Comments

“I don’t think there have been any big changes between Monte Carlo and Baden-Baden,” said James Vickers, chairman of Willis Re International. This isn’t that surprising, given that the two reinsurance meetings are only a little more than a month …