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

Small Business Administration Disaster Loan Centers Closing in Wisconsin

The U.S. Small Business Administration (SBA) says it will close disaster loan centers in Lancaster, Portage and Janesville, Wis. on Friday, Aug. 15. The SBA is urging homeowners, renters, businesses and nonprofit organizations affected by severe storms, tornadoes and flooding …

Mississippi Lawyer Zach Scruggs to Report to Prison

Zach Scruggs must report to prison by Aug. 15 for knowing about the bribery scheme that also landed his father and law partner behind bars. Scruggs was indicted in November along with his father, famed tort attorney Richard “Dickie” Scruggs, …

West Virginia Governor, DuPont Met over Appeal of $196M Verdict

Gov. Joe Manchin’s office acknowledged that he conferred twice with chemical giant DuPont as it planned to appeal a $196 million punitive damage award in a West Virginia pollution case. His office also reviewed a draft friend-of-the-court brief offered by …

Campaign Donations Focus of Del. Insurance Commissioner Debate

The leading candidate in the race for the Democratic Party’s nomination for state insurance commissioner is defending himself from attacks from his rivals about his campaign contributions. During a debate Wednesday on WDEL radio, candidates Tom Savage and Karen Weldin …

S&P Releases New Lloyd’s Syndicate Financial Assessments

Standard & Poor’s Ratings Services has announced the results of its latest public information Lloyd’s Syndicate Assessment (LSA) review, which considered the 2007 syndicate financial statements and additional publicly available information and news flow up to Aug. 13, 2008. S&P …

AIR Updates Catastrophe Risk Modeling Systems

Boston-based AIR Worldwide Corporation has announced the release of updates to its CATRADER®, CLASIC/2™ and CATStation® catastrophe risk management systems. “The version 10.0 releases include a number of significant software enhancements such as quicker import of insurance-linked securities, storage and …

Santa Cruz Nail Salons Cited for Workers’ Comp Violations

Santa Cruz County District Attorney Bob Lee announced that on Aug. 12, 2008, a sting operation was conducted at nail salons in Santa Cruz County, Calif., that led to five citations. The operation was conducted to enforce laws concerning workers’ …

Bigger, Tougher Fires Bring Calif. to the Brink; Schwarzenegger Proposes Insurance Surcharge

Faced with hundreds of big, hard-to-control blazes, California is struggling with what could be its most expensive firefighting season ever, burning through $285 million in the last six weeks alone and up to $13 million a day. With the worst …

Earthquake Expert Warns of Economic Damage

From cracked oil and natural gas pipelines to contaminated public water supplies, the nation’s economy could be the biggest casualty of the next major Midwest earthquake, an earthquake expert warned. Geologic engineering professor Dave Rogers of Missouri University of Science …

Farmers Insurance to Pull out of North Carolina Homeowners’ Market

Farmers Insurance Group notified its North Carolina agents that the insurer will pull out of the homeowners’ market across the state before year’s end. Independent agent Greg Reeder of Reeder Insurance Services in Mint Hill, N.C., said he recently signed …