| Governor, Lawmakers Question Agency's Deal With Insurance Company
DES MOINES, Iowa -- Gov. Chet Culver and lawmakers are asking questions about a settlement between state regulators and an insurance company that includes a $750,000 fine -- but no reasons for the penalty. The fine by the Iowa Insurance Division against Conseco Life Insurance is one of the agency's largest penalties. But the settlement said the records won't be made public. Culver spokesman Brad Anderson said the lack of public information is "unacceptable'' to the governor and he's looking into it. .
Insurance Law Fuels Confusion
Bill Bartram is one of more than 38,000 residents in Florida who are receiving notices from Nationwide Insurance that their homeowners policies will not be renewed. Like others, Bartram, a retired cop from Washington, D.C., who has lived in his Bradenton home for the past 28 years, thought recently passed legislation protected him from receiving such a notice. He was wrong. Actually, the law states that once insurance companies submit rate-reduction filings with the Florida Office of Insurance Regulation - as Nationwide and others have done - then those companies can deliver nonrenewal notices to customers. Still, Bartram thinks someone's not keeping his word. "From what (Gov. Charlie) Crist's office said, if they (companies) sell insurance in Florida, they're going to have to continue to offer coverage," says Bartram, who has been with Nationwide for 25 years and also has automobile and life insurance with the company.
First Floridian drops 40000
First Floridian Auto and Home Insurance Co. is in the process of notifying thousands of Floridians that their homeowners policies will not be renewed, the most recent insurer to significantly reduce its business in Florida. Around 40,000 of the 97,000 policyholders covered by First Floridian, a subsidiary of The Travelers Cos. Inc. (NYSE: TRV, $52.79), have been slated to be dropped, according to people familiar with the company's plans. .
Fueled by fraud?
As president of The Ad Ranch, Chris Greta heard a lot of bold startup ideas from high-tech companies. But even he was surprised and intrigued by the plan that Angela Harkness and Gary D. Jones pitched to him in June 2002. "They said Angela had been a bikini model at some races, and they wanted to get into NASCAR," said Greta, who was hired to create their promotional material. Harkness, a former stripper who said she had taught kindergarten, and Jones, a bank vice president, had no experience in racing, where running a team on the second-tier Busch Series circuit can cost $6 million a year. But five months later, after little background checking by NASCAR and the Ford Motor Co. and other suppliers, the Austinites had put together a dream team for the 2003 racing season.
Unitrin Announces Definitive Agreement to Acquire Merastar ...
CHICAGO--(BUSINESS WIRE)--March 26, 2007--Unitrin, Inc. (NYSE:UTR) announced today that its subsidiary, Trinity Universal Insurance Company ("Trinity"), has entered into a definitive agreement to acquire Merastar Insurance Company ("Merastar Insurance") and certain of its affiliates, superseding the previously announced agreement in principle. Trinity will acquire Merastar Insurance in a cash transaction valued at approximately $45 million, subject to certain purchase price adjustments. The transaction is subject to approvals by insurance regulators and other third parties and other customary closing conditions, and is expected to close in the second quarter. Merastar Insurance is based in Chattanooga, Tennessee and specializes in the sale of personal automobile and homeowners' insurance through employer-sponsored voluntary benefit programs.
Unanimous Senate passes new tow truck regulations
Pirate towing companies that prey on accident victims would be subject to state regulations under a measure that passed the Illinois Senate by a unanimous (58 to 0) vote. The legislation follows a series of columns I wrote detailing the excessive fees (more than $1,000) of some towing companies in the Chicago metropolitan area. Sponsored by state Sen. Edward Maloney (D-Chicago), SB 435 places towing companies that haul cars from accident scenes on public streets under the regulatory authority of the Illinois Commerce Commission. The law would only apply to towers in Cook, DuPage, Will, Kane and Winnebago counties. The measure requires: Towing companies to obtain written authorization from the vehicle owner or operator.
New Jersey : Union County Auto Body Shop Owner and Five Others ...
March 13, 2007 -- TRENTON - New Jersey Attorney General Stuart Rabner and Criminal Justice Director Gregory A. Paw announced that a Middlesex County auto body shop owner and five co-defendants pleaded guilty yesterday for their roles in an insurance fraud scheme involving an auto body shop in Roselle.According to Insurance Fraud Prosecutor Greta Gooden Brown, Marco Rebelo, 33, of Avenel, the owner and operator of Creative Auto Body at 409 East 1st Avenue in Roselle, pleaded guilty to second-degree conspiracy and theft by deception. In addition: .
Three up and three down
SABINA - Three Sabina residents were up for consideration last week for a vacant village council chair. However, the spot remains empty as no candidate at the special council meeting could muster a majority of votes needed to win the seat.
Councilwoman Joyce Stein nominated Robert L. Powers, who previously served on council for eight years. When questioned, Powers said he wanted the seat to help focus the town's energies on Environmental Protection Agency (EPA) concerns.
The motion to nominate Powers was seconded by Councilman Rusty Groves in a 2-3 council vote, with members Christina Strickland, Peggy Sloan and Brad Beam voting against the nomination.
Strickland then nominated Phillip Marion, a resident of Sabina for the past three years. With no prior council experience, Marion expressed a desire to learn and said he wants what's best for the community.
New Orleans residents down, but not out
When Tricia Farve drove up in her purple Buick Rendezvous, she saw her house for the first time that day. Something phenomenal, something joyful had happened, as her face could not hold back the emotion. "That’s a miracle," Farve said. "It’s a blessing." Farve could not fight back the tears as she hugged the members of the New Orleans No. 2 service trip. "Thank you all so much," she said. "That made the trip all worthwhile," Matt Wahl, leader of the group, said. Just five new windows made the difference. The windows on the top floor of the two-story house were still broken and marked with X’s. The house had been gutted before the crew arrived, but the gutting revealed years of termite damage. That’s when the Rev.
Area's pollen causing more than wheezing
By 2005, the last year for which statistics are available, the number had more than tripled. The problem isn't just because of growth, and it isn't limited to St. Johns County. A new tool released this month by the Florida Department of Health allowing experts to track health trends shows asthma-related hospitalizations have steadily grown in every county in the Jacksonville metropolitan area. The data come from both the sheer number of people admitted to hospitals with uncontrolled asthma and the rate for every 100,000 people, which ensures the spike isn't simply from more people moving to the area. In St. Johns County, where the rate in 1994 was under 300, it is now 524. In neighboring Putnam County, the rate during the same time has risen from under 500 to more than 700 per 100,000.
New York auto show opens to public today
The cars and the styles may change and the fortunes of automakers may rise and fall. But one tradition remains sacrosanct at the New York International Auto Show: out-of-towners cracking jokes about how the only cars that matter to the locals are yellow taxicabs or black Town Cars. This year's show, which opens to the public today after two days of media previews, will feature the latest in DIY designs -- that is, drive-it-yourself -- in a city better known for back-seat and below-ground transportation. In fact, New York's ubiquitous yellow cab is playing a bigger role this year than simply hauling showgoers to and from the Jacob K. Javits Convention Center. Coinciding with the 2007 centennial of the modern taxi in New York, the "Taxi 07" exhibit includes eight cars and showcase prototypes for taxis of the future.
Is it time to buy a condo?
NEW YORK (CNNMoney.com) -- I was wondering if I was wise to buy a condo during this period where the market is falling? -Chima We all love bargains. But hey, if you're going to fish at the bottom of the pond, make sure you're at the bottom. Some County Board of Realtors put the price and sales stats online. You'll want to take a look at all of those numbers. .
|
