Monthly Archives: <span>December 2009</span>

Wisconsin Teen Drivers Buckling Up More Than They Used To

Wisconsin teenagers are buckling up more than they used to. A new survey of the state’s high school students shows that only 15 percent say they rarely or never wear a seat belt when in a car driven by another …

Huntington Park Insurance Agent Arrested on Grand Theft Charges

The California Department of Insurance announced that Rosa De Romero De Rosa (AKA Rosa D. Rosa) of Huntington Park, Calif., was arrested Dec. 22 and faces one felony count of grand theft after allegedly taking a premium payment and failing …

Okla. Court Reduces $9M Verdict

The state Court of Civil Appeals has ordered a woman’s $9 million jury verdict reduced by almost $3.4 million. The court took the action on Friday in a lawsuit filed by Barbara J. Nettles against Farmers Insurance Company. The ruling …

Cigarettes Sold in Virginia Must Meet Fire Standards

Starting next month, cigarettes sold in Virginia must comply with standards aimed at making them less likely to start fires. The General Assembly passed legislation in 2008 requiring that cigarettes sold in the state meet standards that make cigarettes more …

New Jersey Gets Disaster Aid for November Storm Damage

President Barack Obama has issued a disaster declaration and ordered federal aid to help repair damage in New Jersey shore communities affected by the November nor’easter. Beaches and dunes were heavily damaged by the powerful storm system born from the …

Report: Deregulation Made Massachusetts Auto Insurance Market Worse

The deregulation of the Massachusetts auto insurance market has driven up prices, boosted insurer profits, reduced consumer protections and generally created confusion in the marketplace, according to a new report by the state’s attorney general. The report, which comes roughly …

La. Firm Accused of Selling Bogus Bonds

Louisiana insurance regulators are suing a company accused of selling worthless construction bonds for bids on hundreds of millions of dollars in government projects, Insurance Commissioner Jim Donelon said last week. Infinity Surety of Louisiana Inc. wasn’t licensed to operate …

17 More Iowa Homeowners Accept Flood Damage Buyouts

More Cedar Rapids homeowners are accepting buyout offers for their flood-damaged properties. Officials say 17 more homeowners have signed offers to have the city buy their properties, which were heavily damaged in the flood of 2008. That brings to 45 …

Settlement for Countrywide Financial ID Theft Victims Advanced

A federal judge in Kentucky has given preliminary approval to a settlement between Countrywide Financial Corp., and millions of customers whose detailed financial information was exposed in a security breach. Under the terms of the settlement, Countrywide, now owned by …

Best Revises Samsung Fire Outlook to Positive; Affirms ‘A+’ Ratings

A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of South Korea’s Samsung Fire & Marine Insurance Co., Ltd. The …