I was catching up on insurance news now that the tax season rush has largely ended (it never completely ends) and noted this story in the Miami Herald by Beatrice Garcia that Allstate has received a stay while the Florida First District Court of Appeals considers their motion for a rehearing:
Allstate Floridian has asked the First District Court of Appeal in Tallahassee for a rehearing on its recent decision upholding a suspension of Allstate’s license to write new business in Florida.
Until the court completes the rehearing, Allstate can continue to write new policies. While Allstate and its sister companies have not been renewing homeowners policies in the past three years, auto insurance is a lucrative business for them.
”The good news is that we’re still open for business,” said Amy Moore, an Allstate spokeswoman.
The appeal court had issued a ruling April 4 to reinstate the suspension of Allstate’s license on April 14. Continue reading “Allstate Wins Another Florida Stay but the Allstate Challenge PR Disaster Continues”
I’m inserting this post under the Allstate Challenge because such a short effort should certainly not be the top item but I saw couple of stories in today’s Sun Herald that are well worth mentioning.
First stop is Jackson and news that $41MM plus dollars of Katrina recovery money is being spent well off the coast. Those who keep up with this sort of news well remember Governor Barbour’s ill conceived plan to use $25MM of Katrina funds to build a road for Toyota in Morth Mississippi. That scheme could not make it past the legislature though they have no say in this use of Katrina recovery funding. Here are some excerpts from today’s Sun Herald front page story:
Gov. Haley Barbour announced Tuesday the release of $41 million in Hurricane Katrina relief funds for projects in 39 counties and cities, but none were in South Mississippi.
Since the storm, South Mississippi legislators and some community groups have criticized Barbour for federal Katrina relief spending, over which he has held much control. Continue reading “Around the GO Zone in 60 Seconds Part II”
The weekend before April 15th typically means I’m working and this year is no different. I took a break from checking returns and surfed my blogroll and followed a link my friend Russell sent that he knew would capture my interest.
Before we get to Chip’s blog and the cyber stops it entails I’ll share some concepts that help pull together this post on insurance, statistical theory and economics. The best place to start is with Russell’s link to Bloomberg and a fantastic story they did on Nassim Taleb late last month. The piece is biographical in nature but does delve into Taleb’s thought processes and how some of his theories have shaken up the status quo in the statistical community which is where we find our intersection with insurance theory.
Taleb has made enemies, too. In August, The American Statistician, the quarterly journal of the American Statistical Association, came out with a special Black Swan issue that published a series of critical reviews alongside an article by Taleb.
“He characterizes statisticians as people who blindly assume things, and nothing could be further from the truth,” says Peter Westfall, the journal’s editor and a professor of information systems and quantitative sciences at Texas Tech University in Lubbock. Continue reading “Chip Merlin Weighs In on Allstate and McKinsey”
The mystic chords of memory……….when again touched, as surely they will be, by the better angels of our nature. Abraham Lincoln
Mr Petro and I have continued to correspond and I am reminded of why I found the Dickie Scruggs bashing so distasteful. Having lived the experience of knowing someone personally who made a terrible mistake and then had to pay the price with a prison sentence I know first hand the perpetrator is not the ony one who suffers.
As the anger subsides from that WLOX report I am reminded that Mr Petro mentioned in the report that he had a family, a wife and children who were also slabbed on August 29, 2005; and again on April 8, 2008. Regardless of ones take on the Youtube Video, if Mrs Petro is like my wife she trusts him implicitly to provide for the family; and now suffers along with her husband the consequences of the public reaction to the video. There are children too who most likely have suffered ridicule. They are innocent though their innocence has likely been shattered.
Just as I reconsidered my initial anger to Mr Petro last evening I hope our readers will similarly reconsider the collateral impact our collective anger had on those also impacted by Mr Petro’s misguided plea for help. I do not know the Petro’s personally but here in cyberspace at slabbed we stand in solidarity with the Petro family and hope their hurt is assuaged quickly.
The measure of a person’s character lies in their capacity to forgive. This post is my last on this topic though Nowdy tells me she also has thoughts to share.
Credit to Hank in DC. His annual charity crawfish boil will soon be here.
See if you can spot the funny (no peeking at the comments).
Mr Petro and I exchanged offline emails the gist of which is he still contends I still don’t understand his position and I still don’t buy in to the story. That said however the better angels of my nature (and yes Virginia I’m not a complete Son of a Bitch) have kicked in as I do not desire to see Mr Petro slabbed again despite the now imfamous You Tube Video. I have removed the original post from public viewing though I stand by the content 100%.
Instead of focusing on a negative of the what the Government, Church Groups or Volunteers didn’t do I’ll publish a different perspective of what Hurricane Katrina did do, namely give all who lived the experience a different slant on living. I hope those who visit here looking for Mr Petro’s train wreck of a you tube video leave with a different persepctive courtesy of the Katrina Prayer. Credit to Tracy and Cowboy. sop Continue reading “To Those Who Came Here Looking for J Michael Petro”
Over the past two weeks our readership has grown dramatically as we close in on matching our March totals in just 11days in April. Nowdy and I wish to thank our readers, especially our return visitors.
Like the March Report where I detailed some of our more popular posts for the month of March 2008 I thought I’d compile a list of my favorite insurance posts from the inception of the blog in December 2007.
We start by examining the concepts of weather modeling with some help from Sam Friedman over the National Underwriter. Small changes in the model inputs can mean big differences on your bill, as the Boston Globe noted in an editorial that we covered. The issues raised in the Globe editorial touch on the concepts of Market Transparency which is discussed here. Continue reading “A Quick Tour”
We are greeted this morning with an Anita Lee story on the Risgby Qui Tam case. While the Anthony Dewitt and company prepare their response to the latest barrage of State Farm legal filings they have asked the suit itself be suspended until Judge Senter rules. Here is the report:
Attorneys are asking for suspension of their whistle-blower lawsuit against State Farm until a federal judge decides whether they can continue to prosecute the case. Continue reading “Suspension of Ex Rel Rigsby Sought (Updated)”
We have our first filed news story concerning one of the former clients of Katrina Litigation Group now forced to find new representation courtesy of WLOX. Some background is in order. Like the McIntoshes these policy holders reside north of I-10. Following the print story is a Youtube clip of the their lead story on February 28, 2008.
A Gulfport couple is among the hundreds of Mississippi homeowners sent scrambling to find new attorneys this week.
On Friday, a federal judge disqualified lawyers who had worked with attorney Dickie Scruggs on Katrina insurance lawsuits. The judge said Scruggs made improper payments to witnesses in Katrina cases. But Ann and Eddie Collins say the policy holders are the ones being punished. Continue reading “The Human Equation in the Katrina Litigation Group DQ”
Rebecca Mowbray and Anita Lee have done wonderful jobs covering insurance issues in New Orleans and the Mississippi Gulf Coast. Our new readers may be interested to know that Ms Mowbray has recently won a prestigious business journalism award for her story “Same house. Same repairs. Same insurer. Why different prices?”. Not to be out done Anita Lee, along with Don Hammack, Michael Keller, Joshua Norman and Margaret Baker were recognized as finalists for the 2006 American Society of Newspaper Editors “Deadline News Reporting by a Team” for their coverage of Katrina news here on the coast.
Yesterday and today we are greeted with their reports on the latest State Farm filings in Ex Rel Rigsby, where State Farm filed to have the lawyers disqualified, the case dismissed and the Rigsby sisters charged with fraud. This latest attempt by State Farm to crush Cori and Kerri Rigsby has been largely lost in the shuffle of case analysis but the threat to them is very real. So before we move to tie in these developments with the Branch case in Louisiana lets start with some excerpts from yesterday’s Anita Lee story which comes complete with quotes from the Rigsby lawyer Anthony Dewitt. Continue reading “Mississippi Rigsby & Louisiana Branch: Dueling Qui Tam?”