The News Review:
- Blowing smoke: Insurance company resists paying damages claiming …
- Budget ffice Sees Hurdles in Financing Health Plans
- NY biker bought insurance after crashing
- Fortis Plans to Pursue Insurance Sale to BNP Paribas
- Jury: Ex-head of ND workers’ comp misused money
- Indiana seizes insurance company Business First of Louisville
Blowing smoke: Insurance company resists paying damages claiming …
Houston Chronicle United States
html In a Houston court case that almost defies belief an insurance company is looking to escape paying damages in the deaths of three people killed in a four-alarm blaze claiming they died from pollution caused by the fire not from the fire itself. Since pollution is excluded from the policy the company argues it is therefore not liable. When Misty Ann Weaver started a fire in her Houston office in March 2007 she was trying to divert attention from a paperwork gaffe. But things went horribly wrong and the resulting conflagration killed three people injured six others and took more than 100 firefighters several hours to put out. Weaver pleaded guilty to three counts of felony murder and one count of first-degree arson and was sentenced to 25 years in prison.
Budget ffice Sees Hurdles in Financing Health Plans
New York Times United States
Without action by Congress the report said health costs will continue to soar the number of people without insurance will rise by nearly one million a year to a total of 54 million in 2019 and spending on health care will increase to 25 percent of the gross domestic product in 2025 up from 16 percent in 2007. In keeping with its duty to provide objective impartial analysis the budget office did not endorse any options but it fleshed out many ideas circulating on Capitol Hill. Democrats and many Republicans say they will make a serious effort to overhaul the health care system in 2009. Those changes are essential for economic recovery they say.
NY biker bought insurance after crashing
Newsday NY
- Authorities say an upstate. Now they’re charging 22-year-old Michael Marrone of Marcy withinsurance fraud. Prosecutors say Marrone crashed his motorcycle ona rural neida County road in May and then used his cell phone tobuy insurance from a State Farm insurance agent while he was at thescene. An hour later he called the insurance company back to reportthe accident and file an $8800 claim.
Fortis Plans to Pursue Insurance Sale to BNP Paribas
Bloomberg
?Things have only gotten worse since we agreed tosell and I expect more negative news to come from the financialcrisis affecting the valuation of assets. ? Fortis on ct. 6 agreed to sell Fortis Insurance Belgium NVthe country?s largest insurance company to BNP Paribas for 5. 7billion euros ($8 billion) in cash. The transaction was part of astate-organized breakup of Fortis meant to prevent the collapseof its main banking unit with about 238 billion euros of depositsat the time according to a.
Jury: Ex-head of ND workers’ comp misused money
The Associated Press
Blunt was found not guilty of a lesser felony charge of giving illegal bonuses to four employees. He faces a maximum of 10 years in prison. He was the chief executive of the Workforce Safety and Insurance agency for nearly four years before he was forced out in December 2007 eight months after the charges were filed. The agency provides medical wage and rehabilitation benefits for employees who are injured on the job. Blunt had said his actions were authorized by the agency’s board. Romanick ordered a presentence investigation and did not set a sentencing date.
Indiana seizes insurance company Business First of Louisville
Bizjournals.com NC
us Digg This In the wake of lowered analyst ratings of Standard Life Insurance Company of Indiana Indiana Department of Insurance Commissioner Jim Atterholt has taken over the company’s operations. Standard’s parent is Prospect Ky. -based Capital Assurance Corp. “We needed to act now” said Atterholt. “The quality of Standard Life’s investment portfolio which has a high concentration of subprime debt has deteriorated to the point” that it made the action necessary.
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