It Figures

February 21, 2010

$2.9 Million

Settlement paid to the family of Michael Colombini, a six-year-old who died in an MRI chamber at New York’s Westchester Medical Center eight years ago when an oxygen tank flew into the chamber, drawn in by the MRI’s 10-ton electromagnet. Most metal items are banned from MRI rooms. The tank was inadvertently carried in by a staffer.

$435 Million

Costs paid by Marsh related to settling its 2004 lawsuits that alleged the company steered business to certain insurance carriers in exchange for kickbacks. The charges, which were posted in the company’s fourth-quarter results, knocked its profits down by half.

$300 Million

Approximate cost of a planned expansion at Liberty Mutual Group’s Boston headquarters. The move will add 600 new full-time jobs to the insurer, which already has over 2,500 employees in the Hub. The expansion will replace the former Salvation Army building and the Benjamin Franklin Smith building, adjacent to Liberty Mutual’s home office at 175 Berkeley St.

$11 Million

Maximum amount that Connecticut-based Webster Financial Corp. says was stolen from the bank in an elaborate embezzlement scheme at one of its subcontractors that provides bulk cash processing on behalf of one of its major vendors. The company said that the subcontractor had made partial restitution and that, in addition, the subcontractor maintains an insurance policy in an amount in excess of the $11 million that was taken.

70

New speed limit passed by Virginia lawmakers, in a bill Gov. Bob McDonnell is expected to sign soon. The speed limit currently sits at 65 mph. Thirty-three other states have speed limits of 70 mph.

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal Magazine February 22, 2010
February 22, 2010
Insurance Journal Magazine

Big “I” Issue (with Young Agents Survey); Boats and Marinas; Agribusiness/Farm and Ranch