Day: October 17, 2008

USA filed eight motions in Perdiago case today!

I’ll have to catch up on my reading tomorrow but here are the eight motions the USA filed in Perdiago’s criminal case today – seven are responses to motions filed by Perdigao and the eight is the USA’s motion to revoke bond.

10/17/2008 RESPONSE to Motion by USA as to James G Perdigao re Amended MOTION for Hearing Renewed and Amended Motion for Adversary Hearing, Specifying Relief Desired and Moving to Schedule Proceedings for Return of Property(Mann, James) (Entered: 10/17/2008)

10/17/2008  Response/Memorandum in Opposition…re MOTION to Authorize Issuance of Subpoenas Duces Tecum Pursuant to Rule 17(C) MOTION to Authorize Issuance of Subpoenas Duces Tecum Pursuant to Rule 17(C) (Mann, James) (Entered: 10/17/2008)

10/17/2008 RESPONSE re MOTION for Disclosure of Electronic Eavesdropping or Other Similar Surveillance (Mann, James) (Entered: 10/17/2008) Continue reading “USA filed eight motions in Perdiago case today!”

Breaking: Department of Homeland Security OIG: Insurers We Have a Problem

I’m working out and am on a very slow internet connection so I’ll be very brief.  Here is the report and following is U.S. representative Gene Taylor’s comments:

The Inspector General’s Office found errors in 62 of the 131 flood claims it investigated. In more than one-third of the cases, the errors were related to the cause of damage. In two cases, the files included material evidence that ‘clearly identified wind as the preponderant cause of damage, thus resulting in an improper payment by NFIP in the amount of $432,600.’ If the files reviewed by the IOG are representative of the total of more than 165,000 NFIP claims from Hurricane Katrina, then NFIP may have paid for wind damage in 2,500 claims for more than $500 million. Continue reading “Breaking: Department of Homeland Security OIG: Insurers We Have a Problem”

The Latest Twist in the Perdigao Saga Ripples Across the Local Media UPDATED with details of new charges

UPDATE:  New Charges h/t NAAS

Gorden Russell wrote a longer story for today’s Times Picayune on Wednesday’s arrest of Jamie Perdigao for hacking the Adams and Reese computer system. For our regular commenters who expressed some disbelief at this latest twist I’ll add it comports with our experience with the insurance litigation and then some.

Before I get to Mr Russell’s article I’ll backtrack and begin with the story at WWL TV which picked up the AP story:

Perdigao was arrested Wednesday night. The 46-year-old is said to have accessed the computers of Adams and Reese on multiple occasions from Oct. 11 until Oct. 14.

The FBI says computers seized at Perdigao’s girlfriend’s home in Metairie were used to get into the law firm’s computers.

And now today’s Times Picayune story which makes clear these latest allegations have landed Mr Perdigao in a world of shit:

There are few defendants who have done as much to annoy prosecutors in U.S. Attorney Jim Letten’s office than lawyer Jamie Perdigao, a former partner at Adams and Reese who is awaiting trial on charges that he stole $30 million from the firm. Continue reading “The Latest Twist in the Perdigao Saga Ripples Across the Local Media UPDATED with details of new charges”

The State of Our Post Katrina Economy: Hurry Up and Wait

The Sun Herald held their quarterly business round table yesterday and had local business community movers and shakers share their take on the state of things here in South Mississippi. For those looking for relief from the double whammy of high fuel costs and it’s impacts on pricing at the gas pump and grocery store and the cost of insurance there is no need to read more because you’re still out of luck. Small businesses, especially those in sectors hard hit by bad economic times like restaurants will continue to struggle mightily for some time to come.

However if your time frame is long enough things are considerably brighter as the Sun Herald panel pointed out:

Though the nation’s economy is keeping much of the business world holding its breath, South Mississippi’s economy is in a position to move forward, thanks to stable banks and cooperation among sectors, members of the Sun Herald Business Roundtable said Thursday at their quarterly meeting.

Architect and Airport Authority Commissioner Frank Genzer noted keen interest in an area near Gulfport-Biloxi International Airport.

“There’s a tremendous amount of interest in and around the John Hill Boulevard area,” he said. The road was a dead end, but since easement was acquired for extension, commercial frontage has been added to a route to the new air-cargo facility and the general aviation area of the airport. There have been “tremendous inquiries” from “aviation-related commerce.”

What’s happening with the airport can benefit the state Port of Gulfport, and vice versa, roundtable members said, especially after the Panama Canal opens for bigger ships. Continue reading “The State of Our Post Katrina Economy: Hurry Up and Wait”

The Sun Herald Reports on the Failure of Mediation to Resolve Renfroe v Rigsby

Nowdy broke the story over a week ago here. Anita Lee picks up from there and adds a few juicy tidbits in her story in today’s Sun Herald:

Ocean Springs insurance adjusters Cori and Kerri Rigsby have been unable to resolve through mediation a lawsuit filed against them by their former employer, E.A. Renfroe, putting the case back on track for trial.

In another legal development, the Rigsbys have dismissed two engineering firms – Jade Engineering and Rimkus Consulting Group Inc. – from a whistle-blower lawsuit they filed against State Farm, E.A. Renfroe and other State Farm vendors.

“We’re making strategic decisions about who should remain in the lawsuit and who should not,” said attorney August J. Matteis Jr. of the Washington firm Gilbert Randolph, which recently took over the case. “It’s an ongoing process.” Continue reading “The Sun Herald Reports on the Failure of Mediation to Resolve Renfroe v Rigsby”

For Those That Have Been Wondering

I hope to resume a more normal blogging schedule next week. The confluence of the October 15th tax deadline, the financial crisis and it’s impacts on my clients (smart contractors are going over their backlogs with fine tooth combs) and the untimely passing of a very close friend have kept me away from blogging.

We have posts coming on the news coverage of the NFIP re-authorization fight, and the continuing fallout from the Camp Coastal scandal along with our bread and butter issue of insurance.

Risk drifts as insurance industry plays unsupervised game of Duck, Duck, Goose with AIG

While eyes are on AIG, whose job is it to make sure their competitors don’t cause the goverment to lose the taxpayer’s investment? Surely, steps are in place to prevent what this story in Business Week suggests is taking place.

As American International Group’s (AIG) new chief executive officer, Edward M. Liddy, prepares to break up the embattled insurance giant, he has declared that one piece is not up for sale: commercial insurance. With its lucrative multimillion-dollar policies for some of the world’s largest companies, the unit has long been viewed as AIG’s crown jewel.

But the $52 billion business may be losing its luster. Customers are nervous about AIG’s future, and competitors are rushing to capitalize on AIG’s battered reputation amid an $85 billion federal bailout following massive subprime losses, and an additional infusion of $38 billion from the Federal Reserve Bank of New York to cover the company’s other obligations. Continue reading “Risk drifts as insurance industry plays unsupervised game of Duck, Duck, Goose with AIG”

Citizens Property Insurance (La) hesitated and lost $35,000,000 in settlement

Citizens, Louisiana’s state-run insurance corporation, must have considered the recent court decision Sop posted on Monday given the nature of this settlement reported in Wednesday’s Times Picayune.

Louisiana Citizens Property Insurance Corp. has reached an agreement to settle two class action lawsuits that allege the insurer failed to offer settlements on hurricane claims in a timely fashion.

Louisiana Citizens, a state-run insurer that originally specialized in covering high-risk properties but ballooned in scope after Hurricane Katrina, acknowledged no fault in agreeing to the $35 million settlement, which could result in a payout of roughly $1,000 to each policyholder participating in the class action.

The settlements of Adrian Chalona v. Louisiana Citizens and Toni Swain Orrill v. Louisiana Citizens put to rest the allegation that Citizens failed to provide a written offer to settle policyholders’ claims within 30 days of being notified of losses tied to hurricanes Katrina and Rita.

The settlements do not resolve any other individual disputes policyholders may be pursuing against the insurer. Some policyholders, for example, have disputed the amount of money they received in insurance proceeds.

“This is a narrow but substantial issue,” said Madro Bandaries, an attorney for the plaintiffs.  (emphasis added) Continue reading “Citizens Property Insurance (La) hesitated and lost $35,000,000 in settlement”

Citizens Property Insurance (La) hesitated and lost $35,000,000 in settlement

Citizens, Louisiana’s state-run insurance corporation, must have considered the recent court decision Sop posted on Monday given the nature of this settlement reported in Wednesday’s Times Picayune.

Louisiana Citizens Property Insurance Corp. has reached an agreement to settle two class action lawsuits that allege the insurer failed to offer settlements on hurricane claims in a timely fashion.

Louisiana Citizens, a state-run insurer that originally specialized in covering high-risk properties but ballooned in scope after Hurricane Katrina, acknowledged no fault in agreeing to the $35 million settlement, which could result in a payout of roughly $1,000 to each policyholder participating in the class action.

The settlements of Adrian Chalona v. Louisiana Citizens and Toni Swain Orrill v. Louisiana Citizens put to rest the allegation that Citizens failed to provide a written offer to settle policyholders’ claims within 30 days of being notified of losses tied to hurricanes Katrina and Rita.

The settlements do not resolve any other individual disputes policyholders may be pursuing against the insurer. Some policyholders, for example, have disputed the amount of money they received in insurance proceeds.

“This is a narrow but substantial issue,” said Madro Bandaries, an attorney for the plaintiffs.  (emphasis added) Continue reading “Citizens Property Insurance (La) hesitated and lost $35,000,000 in settlement”