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

Maine Widower May Never Collect $500K Insurance Settlement

An 85-year-old Buxton, Maine man’s lawsuit against the motorist he blamed for his wife’s death has ended in a settlement totaling more than $500,000, but whether the widower ever collects the money remains to be seen. Still at issue is …

Minnesota Bridge Victims Get $38 Million Compensation Package

The Minnesota legislature has given final approval of a 38 million compensation package for victims of last year’s bridge collapse. The bill passed the Senate unanimously Monday, May 5th after clearing the House on a 127-5 vote. Senators observed a …

House Panel Approves Changes to Louisiana Building Codes

A Louisiana House committee has approved changes to the statewide building code, including a provision aimed at easing the construction inspection process in north Louisiana. North Louisiana lawmakers in particular have complained about the building codes, which were imposed after …

Conectiv to Pay $1.65M to Settle Racial Suit in Pennsylvania

Conectiv Energy and three subcontractors will pay $1.65 million to settle a discrimination lawsuit filed by four black workers in Pennsylvania who said they were subjected to racial slurs, Ku Klux Klan graffiti and a noose that was left hanging …

1 Killed, 1 Injured in Separate Upstate New York Construction Accidents

One man is dead and another is injured after separate accidents at two Albany, New York-area construction sites. Police in Glenville, just outside Schenectady, say 55-year-old Mitchell Draina of Ballston Lake was struck in the head by the tree he …

South Carolina: Firefighters Union Criticizes Delay of Charleston Report

The nation’s largest firefighters union is criticizing Charleston, S.C. Mayor Joe Riley’s decision to delay a report on how nine firefighters died in a fire last June. The report by a city-appointed panel was expected this week and was expected …

S&P Affirms Berkshire Hathaway’s ‘AAA’ Ratings; Outlook Stable

Standard & Poor’s Ratings Services has affirmed its ‘AAA’ counterparty credit, ‘A-1+’ commercial paper, and ‘AAA’ senior unsecured debt ratings on Berkshire Hathaway Inc. (BRK). The outlook remains stable. S&P noted that although Berkshire’s net income declined to $940 million …

Maine Bans Sale of Toys with Lead

Environmental health advocates say Maine’s new law to ban lead in toys makes the state a national leader. As of July 2009, the law will ban the sale of children’s products in Maine that contain lead, including toys, child-care articles, …

CRM First Quarter Reflects Self-Insured Group Closings in N.Y.

Workers’ compensation insurance firm CRM Holdings, Ltd. reported that net income increased 71.7% to $5.0 million, from $2.9 million a year ago, but fee income plummeted due in part to the closing of CRM’s self-insurance groups in New York. Total …

No Rating Change for Swiss Re Following Write-Downs Says S&P

Standard & Poor’s Ratings Services has said that its ‘AA-‘ long-term counterparty credit and insurer financial strength ratings on Swiss Re “are unaffected by its disclosure, as part of its first-quarter 2008 earnings announcement (See IJ web site – https://www.insurancejournal.com/news/international/2008/05/06/89725.htm), …