Monthly Archives: <span>July 2005</span>

N.Y. Gov. Declares State Disaster Emergency for Washington County Following Flooding

New York Gov. George Pataki has declared a State Disaster Emergency for Washington County and contiguous areas that suffered damages in the flooding following the failure of a dam at Hadlock Pond in the Town of Fort Ann recently. “Personnel …

Texas Workers’ Comp Education Conference Features New Format

The Texas Workers’ Compensation Commission and the International Workers’ Compensation Foundation Inc. will sponsor the 15th Annual Texas Workers’ Compensation Education Conference on August 17-19, 2005. The conference will be held in Austin at the Hyatt Regency Hotel on Town …

Construction Co. Owner Sentenced in Okla. Workers’ Comp Fraud Case

The owner of a Tulsa construction company will pay $20,000 in restitution after pleading guilty to workers’ compensation fraud, according to Oklahoma Attorney General Drew Edmondson. William R. King, 41, was sentenced June 29 to a two-year deferred sentence and …

Mass. Agent Finds Forgery Doesn’t Pay

A Quincy man who was working as an insurance agent has been arraigned on charges that he forged documents to steal $22,500 from a client for his own personal use, Massachusetts Attorney General Tom Reilly announced. Anthony Cedrone, 40, was …

A.M. Best Reaffirms Rating for ProMutual Group

A.M. Best has reaffirmed its A- (Excellent) rating of ProMutual Group for 2005. The A.M. Best rating is based on the organization’s independent opinion of the company’s strong financial underpinnings, overall capitalization, conservative reserve practices and underwriting initiatives. This is …

Poll Says Millions of Americans Have Lost Doctors Because of Liability Fears

Ten percent of Americans have lost their doctor to retirement or relocation because of the threat of lawsuits or high malpractice insurance premiums, according to a new poll conducted by Caravan Opinion Research on behalf of The Doctors Company, a …

Dennis Becoming Hurricane Menace

Tropical storm Dennis, the fourth named storm of the season, is currently in the process of consolidation. The latest bulletin from the National Hurricane Center in Miami puts the center of the storm about 310 miles (500 kms.) South-southeast of …

S&P Revises Outlook on British Marine to Positive; Affirms ‘A-‘ Rating

Standard & Poor’s Ratings Services announced that it has revised its outlook on Luxembourg-based insurer British Marine Luxembourg S.A. (BM) to positive from stable. S&P also affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on the company. …

S&P Assigns Ratings to Partner Re Debt Issue

Standard & Poor’s Ratings Services has assigned its preliminary “A” senior debt, “A-” subordinated debt, and “BBB+” preferred stock ratings to PartnerRe Ltd.’s (PRE) $1 billion universal shelf registration, which was filed in May 2005. S&P also said it has …

S&P Raises Ratings on Swedish Marine Mutual Club to ‘BBB’

Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Sweden’s marine mutual insurer The Swedish Club (the club) to ‘BBB’ from ‘BBB-‘ with a stable outlook. “The upgrade reflects …