It Figures

June 16, 2008

$40,000

A nude maid is accused of stealing more than $40,000 in jewelry from a Florida man’s home. The 50-year-old man hired the maid —who charged $100 per hour and took off her clothing when she arrived at the home —from the Internet while his wife was away. The Associated Press reported that the man told law enforcement officials he left the maid alone in the bedroom to clean up. The wife discovered the jewelry was missing when she returned from vacation.

$2.4 Million

Universal Underwriters Life Insurance Co. agreed to refund insurance premiums worth $2.4 million to 12,000 Texans who paid off their vehicle loans early and had automobile credit insurance with the insurer. Texas Attorney General Greg Abbott, who reached a settlement with the company, said Universal Underwriters was obligated to refund unearned portions of the insurance premiums to those customers who paid off their loans early. The company also will pay $125,000 in attorneys’ fees to the state.

2.5%

State Farm insurance will lower auto coverage rates in Louisiana by an average of 2.5 percent effective June 30, the Associated Press reported. State Farm, which has about one-third of the total automobile policies in Louisiana, says the rate reduction will represent $22.4 million in savings to its customers in the state. Premiums for collision and comprehensive coverages will decrease the most.

30

Melvyn Weiss, who built a New York law firm that turned class action litigation into a multibillion-dollar business, was sentenced to 30 months in federal prison after admitting to paying secret kickbacks to clients, Reuters reported. Weiss’s plea bargain and sentencing cap a seven-year federal investigation of America’s top class action firm and the lawyers who built it. Weiss also agreed to pay $10 million in fines and forfeiture under a plea agreement with federal prosecutors in Los Angeles. The co-founder of the law firm now known as Milberg LLP pleaded guilty to a single racketeering charge in March. His law firm is set for an Aug. 12 trial in the kickbacks scheme, but a plea agreement is in the works, a source said.

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Insurance Journal Magazine June 16, 2008
June 16, 2008
Insurance Journal Magazine

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