News Currents

Santa Rosa diocese to pay $5 million in priest sex abuse settlement The Catholic Diocese of Santa Rosa has agreed to pay more than $5 million to settle a sex abuse lawsuit involving fugitive priest Xavier Ochoa and 10 alleged …

Tyler named Maryland commissioner Maryland Gov. Martin O’Malley named attorney and long-time advisor Ralph S. Tyler to be the state’s insurance commissioner responsible for overseeing the regulation of Maryland’s $26 billion insurance industry. Tyler had been serving as chief legal …

Calif. governor signs law to ban teen cell phone use while driving California Gov. Arnold Schwarzenegger has signed SB 33 by Joe Simitian, D-Palo Alto, banning teenage drivers from using all electronic devices — such as cell phones, pagers and …

11 N.J. public officials caught in FBI insurance sting U.S. Attorney for New Jersey Christopher J. Christie talks in Trenton, N.J. on Sept. 6 about the investigation with the FBI that led to arrests of 11 public officials in towns …

Wash. wants comp rate increase Washington’s Department of Labor and Industries has proposed raising workers’ compensation rates 3.2 percent in 2008, with the average premium increasing by just more than 2 cents per hour worked. L&I indicated the rate increase …

Officials in Midwest seek Federal aid after August storms Flooding concerns continue to plague states in the Midwest after the latest round of high winds, tornadoes and heavy rain in late August. Some state officials are seeking federal aid to …

Insurers have manageable exposure to subprime turmoil, report says The vast majority of U.S. insurers have little or no exposure to the volatility in the subprime mortgage market because a substantial percentage of their investments are in the highest-rated bonds …

Fla. yanks teachers’ liability plan Florida’s public school teachers are returning to their classrooms this month with one less protection from the state. Since 2001, Florida has provided all public school educators with professional liability insurance. The legislature decided to …

Florida home insurers, politicians at odds over rate filings About seven months ago, Gov. Charlie Crist signed legislation he said would lower property insurance premiums. It hasn’t quite turned out that way. State officials had promised rates would drop about …

The blame game and the subprime mortgage lending meltdown The subprime mortgage lending blame game is in full swing — with people arguing about who’s at fault for mortgage defaults, bond losses and lender failures — but “we’re only in …