Monthly Archives: <span>October 2004</span>

AIA Responds to Gov. Bush’s Hurricane Financial Relief Initiative Following Storms

Gov. Jeb Bush (R) announced recently that his Cabinet will develop a package of financial relief for Florida citizens adversely affected by this season’s hurricanes. The package will include a proposal, subject to legislative approval, for assistance to Florida policyholders …

MJM Investigations, Ward North America Partner in Fight Against Fraud

With insurance fraud reportedly totaling an average of $80 billion a year, North Carolina-based MJM Investigations Inc. and Ward North America have inked an agreement that emphasizes the commitment of both companies to help reduce the rising cost of insurance …

TDI Schedules P/C Related Hearings for November

The Texas Department of Insurance (TDI) has scheduled a number of public hearings in November 2004 that may be of interest to property and casualty insurance professionals. On Nov. 2 at 10:00 a.m., Docket No. 2602, concerning approval of the …

Md. Gov.’s Med-Mal Plan Gets Frosty Reception from Senate Leader Miller; Special Session in Doubt

Senate President Thomas V. Mike Miller this week blasted Gov. Robert Ehrlich’s latest medical malpractice plan as “a work of fiction” and “a completely different bill” from the one he, the governor and House speaker agreed to at a meeting …

ACE Reports $3 Million Q3 Net Loss

Bermuda’s ACE Limited reported a net loss for the third quarter ended Sept. 30, 2004 of $3 million or $(0.05) per common share after payment of preferred dividends, compared with net income of $355 million or $1.22 per share for …

RenRe Reports Q3 Operating Loss of $372 Million; Increases Hurricane Loss Estimates

Bermuda’s RenaissanceRe Holdings Ltd. reported a net operating loss attributable to common shareholders of $372 million for the third quarter of 2004, versus net operating income available to common shareholders of $112 million for the comparable period in 2003. Even …

S&P Affirms FSR on Cumberland Mutual Fire

Standard & Poor’s has affirmed its ‘BBBpi’ counterparty credit and financial strength ratings on Cumberland Mutual Fire Insurance Co. (Cumberland Mutual) and its subsidiary, Cumberland Insurance Co. Inc. (Cumberland). The rating affirmation is based on the group’s extremely strong capitalization, …

Wyo. Healthcare Commission Reviews Malpractice Liability Fund Proposal

A consultant has drafted a plan for a medical malpractice liability fund that would attempt to reduce the rising premiums doctors pay for malpractice insurance in Wyoming. The plan was reviewed Oct. 25 by the Wyoming Healthcare Commission. It was …

N.H. Contractor Finds New Home at House of Corrections Following Scam

New Hampshire Attorney General Kelly Ayotte announced that the New Hampshire Supreme Court affirmed the conviction of James Moran, Jr. d/b/a Exterior Solutions who had previously been convicted of the crime of Unfair or Deceptive Business Act or Practice. Moran …

N.J. Man Shows No Class; Guilty Plea Offered in Workers’ Comp Scam

New Jersey Division of Criminal Justice Director Vaughn McKoy announced that a Gloucester County man has pleaded guilty to stealing more than $38,000 in workers’ compensation benefits by falsely claiming to be enrolled at a community college. According to Insurance …