Monthly Archives: <span>June 2007</span>

Blaze Engulfs S.C. Furniture Warehouse, Killing 9 Firefighters

Fire swept through a furniture warehouse, collapsing the building’s roof and claiming the lives of nine firefighters in a disaster the mayor described Tuesday as “difficult to fathom or quantify.” “Nine brave, heroic, courageous firefighters of the city of Charleston …

N.J. Judge Orders Merck to Pay $4 Million in Vioxx Case Legal Fees

Lawyers who helped a heart attack victim win a $13.5 million jury verdict in a Vioxx liability case should be paid about $4 million in legal fees by Merck & Co., a New Jersey judge has ruled. Merck, which made …

Face Climate Change Consequences, Not Just Causes, Says ABI

The Association of British Insurers said it has put increased pressure on the UK Government to develop an effective climate change strategy with the publication of its climate change adaptation manifesto. The study “Adapting to our Changing Climate: A Manifesto …

IMB Warns of Horn of Africa Piracy Perils; Lloyd’s Reaction

The ICC International Maritime Bureau (IMB) has issued an alert to all sea traffic off the Horn of Africa. “Heavily armed pirates are subjecting vessels to violent attacks while in international waters,” said a bulletin on the IMB web site …

S&P Raises Zurich Ratings to ‘AA-‘

Standard & Poor’s Ratings Services has raised to “AA-” from “A+” its long-term counterparty credit and insurer financial strength ratings on the various operating entities of Swiss-based Zurich Financial Services (collectively ZFS), including the members of the Zurich U.S. Intercompany …

S&P Affirms Bermuda Insurers Ratings after ‘Hybrid Securities’ Review

Standard & Poor’s Ratings Services announced that it has “affirmed its ‘BBB+’ preferred stock rating on PartnerRe Ltd.; its ‘BBB’ preferred stock ratings on ACE Ltd. and RenaissanceRe Holdings Ltd.; and its ‘BBB-‘ preferred stock ratings on Arch Capital Group …

W. Va. Woman Pleads Guilty to Committing Insurance Fraud

West Virginia Insurance Commissioner, Jane L. Cline, announced that Kelly Cain pleaded guilty earlier this month to one felony count and one misdemeanor count of insurance fraud. Cain, 27, of Shinnston, admitted June 14 that she provided fraudulent narcotic prescriptions …

Citizens’ Forum to Highlight Sinkhole Coverage Change in Florida

Citizens Property Insurance Corp. will co-host an educational forum with Sen. Mike Fasano, R-New Port Richey, and Rep. John Legg, R-Port Richey, to discuss a change in sinkhole coverage that affects residents in Florida’s Pasco and Hernando counties. Citizens policyholders …

MyNewMarkets Grows Exponentially, Adds New Features

SAN DIEGO – In the four short months since its inception, MyNewMarkets.com, an Insurance Journal product, has drawn nearly 10,000 members and already started adding new features. A new search feature on the Web site opens doors for agents, brokers …

Why Insurance Agents Don’t Need to Do Marketing

There are two types of insurance agents: successful and not successful. Insurance agents that spend thousands of dollars on expensive bus bench advertisements, cold calling, door knocking, and yellow page ads are having a hard time making ends meet. On …