Monthly Archives: <span>April 2016</span>

Oklahoma Ex-Reserve Deputy, Insurance Exec Convicted in Suspect’s Death

A former Oklahoma volunteer sheriff’s deputy who said he mistook his handgun for his stun gun when he fatally shot an unarmed suspect last year has been convicted of second-degree manslaughter. Jurors handed down the verdict in the case of …

Houston Bakery to Pay $1M to Settle Race, National Origin Discrimination Suit

A large bakery in Houston will pay $1,042,000 as part of the settlement of a class race and national origin discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. The EEOC had charged that Lawler …

Aon Reports 4% Drop in Q1 2016 Net Income to $315 Million

London-based Aon plc reported net income attributable to Aon shareholders of $315 million, or $1.15 per share, during the first quarter ending March 31, which is down 4 percent from $328 million, or $1.14 per share, from the same period …

Florida Picks Deputy Altmaier to Be Next Insurance Commissioner

The Florida Cabinet has selected David Altmaier to be the state’s new insurance commissioner. Altmaier, 34, is currently a deputy commissioner within the Florida Office of Insurance Regulation. He will replace Kevin McCarty, who is stepping down after 13 years …

Vermont Mutual Promotes McDonnell to Executive VP, COO

Vermont Mutual Insurance Group has promoted Mark J. McDonnell to executive vice president and chief operating officer of the Group.

Virginia Sets Up Fund to Cope With Sea-Level Rise

Virginia has set up a new revolving loan fund designed to help property owners prepare for rising sea levels. But the Virginian-Pilot reports that the fund has no funds and may not have any money for several years. Still, Virginia …

Delaware Fines Insurers $83K for Market Misconduct

Delaware Insurance Commissioner Karen Weldin Stewart has fined insurance companies a total of $83,300 during the first quarter of 2016 for violating state insurance regulations. Fines generally result from a market conduct examination of a company’s practices performed by the …

Florida’s Universal Insurance Holdings Raises $10M in Share Sale

Florida-based Universal Insurance Holdings Inc. has raised an additional $10 million in capital by selling shares to one of its reinsurers. Universal said it sold 583,771 shares of common stock to RenaissanceRe Ventures Ltd., a subsidiary of RenaissanceRe Holdings Ltd. …

Florida Braces for Rate Hikes, Litigation Due to Workers’ Compensation Fee Ruling

The Florida Supreme Court’s ruling that the state’s current attorney fee limits are unconstitutional will have serious ramifications on the workers’ compensation market in the state, according to Florida Insurance Commissioner Kevin McCarty and other workers’ compensation experts. Those ramifications …

West Virginia Doctor Gets 8 Years in Drug, Health Care Fraud Case

A pain clinic doctor in Beckley, West Virginia, has been sentenced to eight years in federal prison for illegally prescribing a controlled substance and submitting false health care claims. Dr. Jose Gordinho was sentenced Wednesday in federal court in Beckley. …