Add one more to the list of coastal insurance problems that Brian Martin posted in comments on the Open Thread earlier today.
An insurance company linked to Allstate says it won’t write new homeowner and dwelling fire policies in North Carolina over concerns about a state-sanctioned program for coastal insurance.
Encompass Insurance told independent agents who offer the product last week that additional policies wouldn’t be prudent given the growth of the so-called Beach Plan. Continue reading “Encompass adds to North Carolina’s insurance problem”
A settlement Agreement has been reached between the Levee and MRGO plaintiffs and defendants insured by St. Paul Fire and Marine Insurance Company.
The term “Settling Defendants” shall mean St. Paul Fire and Marine Insurance Company, the Board of Commissioners of the Orleans Levee District, the Orleans Levee District,`the Board of Commissioners of the Lake Borgne Basin Levee District, the Lake Borgne Basin Levee District, the Board of Commissioners of the East Jefferson Levee District, and the East Jefferson Levee District…
The term “St. Paul” shall mean St. Paul Fire and Marine Insurance Company (in its capacity as the insurer for any and/or all of the Levee Defendants)…
Upon the execution of this Agreement by all Parties, (a) the Parties shall seek immediately to stay all Claims as to the Released Parties in the federal Pending Actions (including the Levee Consolidated Class Action, Barge Consolidated Class Action, and MR-GO Consolidated Class Action)…
(a) Within fifteen (15) business days from the Deposit Date, St. Paul Fire and Marine Insurance Company shall deposit into the Escrow Account in accordance with the terms of the Escrow Agreement (i) the total sum of $17,000,000.00 (the Insurance Policy Limits”) along with (ii) legal interest Continue reading “Levee and MR-GO settle with defendants’ insurer”
MSNBC reports a group of public interest lawyers sued the U.S. Department of Housing and Urban Development on Wednesday, seeking to stop the state of Mississippi from diverting $600 million in federal hurricane-relief funds intended for housing to a massive expansion of the state’s port facilities.
Separately, msnbc.com has obtained a memo from a HUD official that demonstrates concern within the agency over waivers granted by HUD officials and the fund diversions, and raises the specter that they could violate civil rights laws.
The diversion of the grant money is “a tragic misdirection of funds,” said attorney James Wodarski of the Boston-based firm of Mintz Levin. Wodarski is leading a team of lawyers from the Mississippi Center for Justice, the Lawyers’ Committee for Civil Rights Under Law, the Mississippi chapter of the NAACP and Gulf Coast Fair Housing Center that filed the lawsuit. Continue reading “HUD sued over funds for Port of Gulfport expansion”
For what is a man, what has he got?
If not himself, then he has naught.
a good neighbor, the one on your side, good hands people – the relationship between policy holders and their insurer is one of trust. – beginning with trust in the local agent that sells the policy; reflected in trust of the company that follows.
Yet behind the clever slogans and familiar faces lies a culture that views every claim as a potential case of insurance fraud – and trust is replaced with betrayal. Premium dollars have made fraud detection a separate industry – one with its future riding on the continued public perception of widespread insurance fraud.
Fraud, to be certain, is a serious problem; however, the resulting problem-focused solutions have created far greater problems.
I planned each charted course;
Each careful step along the byway
The industry’s response to Katrina -captured in Frontline’s The old man and the storm – has been nothing short of a disaster itself, as this preview of the January 6, 2009 annual update suggests. The charted course – a haystack of needles – is an enterprise management system.
From an IT management perspective, Enterprise Management essentially means enterprise-wide network administration, which is becoming increasingly complex. The corporate network environment is no longer tied to a single vendor, let alone a single platform. More and more, corporate intranets are multidomain, multiprotocol, multiplatform systems. They contain hardware and operating systems from a number of different, competing vendors… Continue reading “The Scheme: final curtain – who done it (Chapter 7 qui tam)”
Although I don’t believe in Santa Claus or the Tooth Fairy, as one commenter suggested, I do believe the Rigsby sisters.
The scheme is not a fairy tale, as the commenter suggested. Instead, it represents the application of my experience to the evidence.
Contrary to comments made suggesting I find something amiss about the use of technology as a management tool, I wholeheartedly support such efforts and believe they are even more valuable when Six Sigma and similar measurement systems are integrated.
However, “systemic underpayment” of claims becomes even more likely when success is measured in terms of reduction of loss. When fortunes are made by investors swapping paper, there is nothing far fetched at all about the idea of swapping data to reduce loss.
The final post on the scheme follows; but, the end of the series is not the last word.