Declarations
Meant It “I meant exactly what I said in August 2007. I did not expect actual, economic losses on the portfolio. That said, I was truthful at all times about the unrealized accounting losses and did my very best to …
Texas Mutual Urges Worker Safety During Gulf Shore Cleanup
Now in its third month, the Gulf Coast oil spill has created many safety hazards for wildlife and for people involved in cleanup efforts. Workers’ compensation insurance provider Texas Mutual Insurance Co. urges employers and employees helping out with the …
Georgia Couples Who Own Land in Florida Sue BP
Two Atlanta couples are suing BP PLC for damages as a result of the Gulf oil spill. The class-action lawsuit, filed in the U.S. District Court of Northern Georgia, seeks compensation for loss of income, property value and enjoyment by …
BP Test of New Cap on Gulf Oil Well Could Be Turning Point
BP Plc prepared on Tuesday to test a new cap on its runaway well, arresting the flow of oil which has been gushing into the Gulf of Mexico for the last 12 weeks. [According to Reuters BP Plc will launch …
How Should BP Handle Claims by Churches, Nonprofits?
God only knows what will happen to churches and other nonprofit organizations that say they are struggling for survival because of the Gulf oil spill crisis. Months after the Deepwater Horizon rig exploded and its well started gushing oil, the …
New Storm Brewing in Gulf
An area of disturbed weather over the southeastern Gulf of Mexico could strengthen into a tropical storm later this week, the U.S. National Hurricane Center said Monday. If it revs up to cyclone force, the system would become the second …
House Bill Raises Liability of Companies Operating on High Seas
The House of Representatives last Thursday passed the first major U.S. bill related to the Gulf of Mexico oil rig explosion, voting to allow families of those killed and injured workers to be compensated far more generously than current law …
WMO Foresees La Nina in Pacific this Year
La Nina is likely to cool the tropical Pacific in coming months, a phenomenon which usually causes stronger monsoons across Asia and eastern Australia, the World Meteorological Organization (WMO) said on Tuesday. The weather condition also promotes the development of …
Price Scare
Seven years and running, the soft market shows few signs of loosening its grip on commercial insurance pricing, according to a recent industry study. Average premiums in every line tracked by the RIMS Benchmark Survey fell in the first quarter, …
It Figures
9.8% The average drop in South Carolina workers compensation rates approved by state insurance regulators. Insurance Director Scott Richardson also reported that the Assigned Risk Plan, the residual market mechanism, accounted for about 3.9 percent of the direct written premium, …
