Monthly Archives: <span>June 2013</span>

Citizens Property Insurance CFO Resigns

Citizens Property Insurance Corp.’s chief financial officer is stepping down. The state-created insurer announced the resignation of CFO Sharon Binnun on Monday. It said she will be taking a job with a private Florida insurer that hasn’t done business with …

Coastal Insurance Group Expects Profits

The non-profit, state-supervised insurance agency for coastal counties is expected to shore up its finances by the end of the year, the group told a Texas House panel Monday. Pete Gise, who handles The Texas Windstorm Insurance Association‘s finances, says …

3 Former Joplin Residents Face Disaster Fraud Charges

Three former Joplin, Mo., residents faces federal charges accusing them of diverting relief funds after the 2011 tornado. The U.S. Attorney’s office for western Missouri said in a release Monday that 31-year-old Herlana Latham and 36-year-old Christopher L. Smith, both …

The Flaw of Averages: Why Carriers are Overpaying and Underpaying

46 percent of claims are being overpaid by an average of $19,000 In his book, The Flaw of Averages, author Sam Savage explores how the widely used statistical concept of “averages” can wreak havoc on our forecasting and decision making. …

Court: ‘Pay to Delay’ Generic Drugs Can Be Illegal

The Supreme Court ruled Monday that deals between pharmaceutical corporations and their generic drug competitors, which government officials say keep cheaper forms of medicine off the market, can be sometimes be illegal and therefore challenged in court. The justices voted …

Break-in Reported at Woodrow Wilson’s Boyhood Home in Georgia

Sheriff’s officials in east Georgia are investigating a break-in at the boyhood home of former President Woodrow Wilson. The Sunday afternoon burglary at the Augusta home caused $750 in damage, authorities said. An alarm was tripped at the home at …

Coast Guard: Tugboat Sparked April Alabama Barge Explosion

A Coast Guard report says a passing tugboat helped spark the massive explosions that rocked the Mobile River and injured three people in April. A preliminary report released Saturday says workers were cleaning fuel storage tanks on two barges moored …

70 People Displaced After Las Vegas Apartment Fire

Authorities say 70 people were displaced and two people are injured after a three-alarm fire at a Las Vegas apartment complex. Las Vegas Fire & Rescue officials say they responded to the fire a little before 7 a.m. Sunday at …

Higher Temps Spark Rash of Air Conditioner Thefts in Kansas

Rising temperatures have led to a rash of air conditioner thefts in Wichita by people who sell copper piping and other scrap metal inside the units and leave thousands of dollars of damage in their wake. Home sellers and renters …

States That Allow Electronic Proof of Insurance

The number of states that allow electronic proof of insurance via smartphones has increased to 25, with the recent addition of Indiana and Florida. The states that allow electronic proof of insurance coverage are: Alaska, Alabama, Arizona, Arkansas, California, Colorado, …