Monthly Archives: <span>March 2008</span>

South Carolina Bill to Install Fire Sprinklers has Setback

A bill that encourages businesses and homeowners to install fire sprinkler systems has stalled in a South Carolina Senate committee. Calls for more sprinkler systems in buildings increased after nine Charleston firefighters were killed in a furniture store fire. However, …

Aon Says Failures May Increase Premiums for Space Vehicles

The failures of the Sea Launch rocket carrying the NSS-8 satellite, the Proton carrying JCSat 11 and the recent failure of the Proton rocket carrying the AMC-14 satellite, could cause space insurers to increase premiums by up to 30 percent, …

Best Removes Swiss Re Ratings from Review; but Outlook is Negative

A.M. Best Co. has removed from under review with negative implications the financial strength rating of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa” of Swiss Reinsurance Company and its similarly rated subsidiaries. Best also affirmed the ratings; …

Caribbean Storm Waves Threaten Islands

An Atlantic storm threatened to pummel Puerto Rico and other islands with waves as high as 30 feet (9 meters) beginning late Wednesday, forcing tourists and other Holy Week vacationers to seek alternatives to the beach. The storm spawned tornadoes …

Study: California Hayward Fault Earthquake Could Cause $165 Billion in Losses

An earthquake of 6.8 magnitude or greater on California’s Hayward Fault, in the heart of the San Francisco Bay area, could impact more than 5 million people and impact more than $1.5 trillion in property and contents, according to new …

Food Makers Say They Won’t Overreact to Safety Scares

A string of high-profile food safety scares has heightened government and consumer concerns about the U.S. food supply, but top food companies say they have felt little need to react dramatically to those events because their quality standards are already …

West Virginia Train Accidents in 2007 Dip 30 Percent over 2006

Train derailments and collisions in West Virginia declined 30 percent in 2007 compared to 2006. Preliminary data from the Federal Railroad Administration shows West Virginia logged nine fewer incidents in 2007 than in the previous year and was one of …

Urban Sprawl Poses Extra Risk for Teen Drivers, Virginia Study Finds

The spreading out of cities’ residential, commercial, recreational and public spaces, otherwise known as urban sprawl, poses a special risk for teen drivers according to a new University of Virginia Health System study. Dr. Matthew Trowbridge, emergency medicine physician and …

Nebraska Lawmakers Sign Off on Multimillion-Dollar Settlement

Nebraska state lawmakers signed off on a nearly $10 million settlement between the state and the mother of a man injured in a traffic accident ago nine years ago. The Legislature gave first-round approval to paying that and other claims. …

Time to Invest in Infrastructure

U.S. District Judge Stanwood Duval in the first quarter of 2008 dismissed a lawsuit against the U.S. Corps of Engineers over levee failures in New Orleans after Hurricane Katrina in 2005. Duval ruled the Corps had immunity from the lawsuit, …