And, then there were four – ex rel Rigsby, ex rel Branch Consultants, ex rel Denenea and, now, ex rel Sonnier v Allstate:
ALLSTATE’s price allowed on wind policy estimates of loss in the State of Louisiana for painting damaged areas was between $0.15 and $0.38 per square foot. However, on NFIP flood policy estimates, ALLSTATE allowed $0.56 per square foot, a difference of between $0.18 and $0.41 per square foot. Thus, if the true and correct cost to repaint flood damaged property was between $0.15 and $0.38 per square foot (i.e., the same cost listed by defendant, ALLSTATE, to paint the same unit of drywall covered under the wind policy issued for the same property by defendant, ALLSTATE, and applicable to the same loss event), ALLSTATE caused the federal government to overpay ALLSTATE between $0.15 and $0.41 for every square foot required to be painted in every NFIP flood policy loss estimate adjusted and initially paid by ALLSTATE but subsequently submitted to the federal government for full reimbursement to ALLSTATE.
Kermith Sonnier, “the Relator is a licensed insurance adjuster with 30 years experience…principal shareholder of Sonnier & Fisher Public Adjusters, LLC, a public adjusting firm based in Lake Charles, Louisiana”.
Solvency II is the updated set of regulatory requirements for insurance firms that operate in the European Union.
Based on this new European regime, Aon Benfieldreports in a press release [November 4, 2010] that the formulas for calculating natural catastrophe capital requirements under the proposed Solvency II Standard Formula are outdated and ignore 15 years of evolution in the field of risk modeling. In response they are offering a suite of services to help re/insurers [game the system] make the most of the catastrophe requirements.
The basic calculation methodology being used under Solvency II overlooks these key aspects of risk and data modeling says Aon:
Location granularity (CRESTA zone data is insufficient)
No differentiation by occupancy (residential, commercial or industrial) or construction, age and height
Single damage function so no differentiation between buildings, contents and business interruption cover
No application of limits and deductibles
Unrelated to any of the above, it was released today [November 10. 2010] that:
Andrew Appel, chief operating officer of global broker Aon, will leave the company at year-end.
One should always endeavor to make the innocuous seem conspiratorial. Of course one might argue that in the someone opaque world of global reinsurance the conspiratorial is at least mundane if not exactly innocuous.
NEMS360 reports, “Longtime Hollywood insider Sam Haskell….has bought the television and film rights to Curtis Wilkie’s book, “The Fall of the House of Zeus”.
The project, said Haskell publicist Nathan Wells, “has the potential to spur a TV-film industry along in Mississippi, which has been one of Haskell’s goals since returning to Mississippi full time.”
“But for both Wilkie and Haskell, the book and the prospective movie also mean a chance to tell parts of the story that most press accounts could not…The story “has to be about redemption,” he added. “We all make mistakes; this was in the public eye in a way that created a perfect storm for misunderstanding.”
“You know Lackey much better than I, but I don’t believe he was taken aback one whit. If anything, I think he expected Balducci’s Of Counsel “assurances.” Look at the other judges and officers who signed on before Lackey … he didn’t want to be excluded.”
However, the really different meaning to Judge Lackey’s role comes when it’s viewed in light of the Government’s lack of jurisdiction to make a federal case out of the state judges’ position – meaning the Government had no “color of official right” to lend to Lackey. It was this “color” that made a bribe of what otherwise have been Lackey’s extortion of money from Scruggs. Without jurisdiction, the government was not just without “color” to lend Lackey, it was also without the authority to obtain a wire tap order and Judge Biggers without the authority to issue same – and, folks, this “really different meaning” is going to make a great movie! Continue reading “Scruggs: the movie – Wow! northern MS just-us justice up on the big screen!”
We’ve covered the ongoing stories of 2 good examples of how not to behave in political hack Scott Walker of Ocean Springs and executive director Butch Brown of MDOT and there is news regarding both men here in the local press we must highlight for the Slabbed Nation.