Lebanon News

2007 Property/Casualty State Specialist Insurers

1 Brickstreet Mutual Insurance Co. WV 765,963 2 Texas Mutual Insurance Co. TX 743,095 3 Old American Cty Mutual Fire Insurance Co. TX 491,641 4 SAIF Corp. OR 449,794 5 Universal Property & Casualty Insurance FL 371,755 6 Physicians Reciprocal …

Nor’easter Damage to Public Property in Maine Nears $30 Million

Mainers like to boast that they live in the nation’s most heavily forested state, but residents paid a heavy price for that distinction when a deadly nor’easter whipped the coast with winds gusting to 81 mph. Thousands of those trees …

N.H., Maine Still Dealing with Flooding, Power Outages, Washed-Out Roads

Rain continued falling on much of New Hampshire late Wednesday, keeping some schools closed and lengthening the morning commute for drivers detouring around washed-out roads. Thousands of homes and businesses still had no power, and the state’s largest utility, Public …

Cracker Barrel Restaurant Chain Sues Insurers Over Harassment Claims

Restaurant chain Cracker Barrel is suing two of its insurance carriers, claiming they did not reimburse the company after it settled sexual and racial harassment claims for $2 million. The lawsuit filed last week in U.S. District Court in Nashville …

New Wholesale Broker, Camford National, Opens in N.J.

Lebanon, N.J.-based Camford National Insurance Brokers LLC, has opened as a specialty lines wholesale insurance brokerage serving property/casualty agents and brokers both nationally and internationally. Camford National will specialize in serving excess & surplus lines and industries with hard-to-place risks. …

It Figures

$1 million The punitive damages amount to be lodged against State Farm after the federal judge overseeing the Mississippi Katrina claims cases reduced a recent $2.5 million jury award. U.S. District Judge L.T. Senter ruled that a punitive damage award …

Figures

$1 million The punitive damages amount to be lodged against State Farm after the federal judge overseeing the Mississippi Katrina claims cases reduced a recent $2.5 million jury award. U.S. District Judge L.T. Senter ruled that a punitive damage award …

St. Paul Travelers Settles Stun-Gun Suit Against Pa. Suburb

A Pittsburgh suburb’s former insurance carrier paid $100,000 to an ex-pizzeria owner who sued the municipality after being subdued by police with a stun gun in 2005. Mount Lebanon police used a 50,000-volt Taser on Frank Caruso, 67, of Castle …

Vietnam Joins WTO

Nearly 32 years after Vietnam’s communists chased U.S. forces from their soil, the southeast Asian nation joined the capitalist club as the World Trade Organization’s 150th member on Thursday, signaling its emergence as one of the world’s fastest-growing economies. “Welcome, …

Best Affirms Arab Re ‘B+’; ‘bbb-‘ Ratings; Off Review, Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of “B+” (Very Good) and the issuer credit rating (ICR) of “bbb-” of Lebanon’s Arab Reinsurance Company S.A.L. Best also removed the ratings from under review with negative implications and assigned …