The News Review:
- California employers may see 5% rise in workers’ comp insurance
- SeaBright Insurance Holdings Authorized to Begin Trading on New …
- Vermont collects $205 million from insurer
- Help for Homeowners, at Last?
California employers may see 5% rise in workers’ comp insurance
Los Angeles Times, CA
By Marc Lifsher October 25, 2008 Reporting from Sacramento — Many of California’s 1. 3 million employers may pay higher premiums for workers’ compensation insurance next year, after five years of steady rate decreases. After analyzing costs in the $12-billion market, Insurance Commissioner Steve Poizner on Friday told more than 200 insurers that they would not be out of line if they raised rates by 5% for policies written after Jan.
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SeaBright Insurance Holdings Authorized to Begin Trading on New …
WELT ONLINE, Germany
bwtextaligncenter {text-align: center}–>SeaBright Insurance Holdings, Inc. (Nasdaq:SEAB) today announced thatthe Company has been authorized by the NYSE to trade on the NYSE underthe ticker symbol “SBX. The Company will move from the NASDAQ Global Select Market (“NASDAQ”)to the NYSE and expects to begin trading on the NYSE on November 6,2008. The Company will continue to trade on the NASDAQ until that time. “SeaBright remains committed to providing itsshareholders with an efficient trading platform and is honored topartner with the New York Stock Exchange,”said John G.
Vermont collects $205 million from insurer
The Associated Press
(AP) — The state of Vermont has received $205 million in a lawsuit against accounts for an insurance company that went bankrupt a quarter century ago and left about 20,000 people in several states with outstanding claims. The announcement should bring to a close a long-running battle by state regulators to collect from PriceWaterhouseCoopers, the accounting firm for the defunct Ambassador Insurance Co. , said Paulette Thabault, commissioner of the state Department of Banking, Insurance, Securities and Health Care Administration. “Claimants should know that the long wait is nearly over, and that we expect to be able to fully pay claims by insureds and policyholders, with interest,” Thabault said. Ambassador, which was incorporated in Vermont but headquartered in New Jersey, operated in seven states.
Help for Homeowners, at Last?
New York Times, United States
The only ray of hope is that worsening conditions may finally force them to act. At a hearing on Thursday in the Senate Banking Committee, Sheila Bair, the chairwoman of the Federal Deposit Insurance Corporation, confirmed that the F. is working with the Treasury to streamline the reworking of troubled mortgages.