Today is a very busy news day with unrelated but very newsworthy items. The windpool premium reductions are one of a three news stories we are tracking related to Katrina issues, the other two being State Farm further restricting coverage in Alabama and the Hancock County press conference today involving Haley Barbour, Gene Taylor and Roger Wicker.
Yesterday afternoon we were greeted with breaking news that the Mississippi windpool was reducing rates for coastal residents. I read today’s Sun Herald story and was reminded of Commissioner Chaney’s Insurance Forum on March 4. Though I have not recapped either that forum or Gene Taylor’s Issues+Answers lecture on February 29th as both were lost in the corporate tax shuffle I was reminded of a post I penned on the Yahoo! Allstate Message Board about Commissioner Chaney’s Forum when I read Anita Lee’s story today.
Mr Shumaker with the wind pool was also enlightening but also exhibited what is wrong with the current system. The wind pool was not created to be palatable for it’s members but neither was it created to hold wind insurance for people living in Pearl River County. I got the impression Mr Shumaker didn’t understand how much structural change has occurred in his market since 8-29-05. Continue reading “Mississippi Windpool Rates Going Down. Commissioner Chaney Makes Good on his promise to Coastal Residents”
We at slabbed have been scratching our heads over Alabama Senator Dick Shelby’s opposition to the Senate companion of HR 3121, S. 2284 as residents in coastal Alabama face the same problems with wind insurance as their neighbors in Florida and Mississippi. Following the money reveals Senator Shelby is a big recipient of campaign ca$h from lawyers and insurance companies, the two main constituencies that actually benefit from the current dysfunctional system of wind-water peril coverage.
Scanning the news today reveals Senator Shelby’s home state of Alabama was just invited to the coastal residents need not apply party by the people over at State Farm. Unbelievably it appears concepts like Hurricane Deductibles have been foreign ones for our neighbors to the east but no longer. This process of limiting coastal property coverage can take several years; in Mississippi it began after Hurricane Georges in 1998. Continue reading “Welcome to the party Senator Shelby…….”
One defendant, one Motion – probably the most polite Motion it ever took a dozen lawyers to write.
In James, the Fifth Circuit recognized the problems posed by a multi-conspirator case, where at times hearsay from one co-conspirator can prejudice another co-conspirator. It first acknowledged and then fashioned a procedure (the James hearing) to deal with the reality that it is virtually impossible to avoid prejudice arising from the constant repetition of inadmissible Continue reading ““jonesing” for justice, Zach asks for a James Hearing UPDATED”
I noted this story in today’s Sun Herald along with some new case filings in the RICO case against State Farm. One of the recent rulings rejects State farm’s arguments against amending the complaint, especially their unsubstantiated charges of ethical breaches on part of the Katrina Litigation Group. For the sake of the defendants I hope they come up with better defenses for the trial to rebut some of the more damning evidence in possession of the Plaintiff’s such as Forensic Engineering’s computer hard drive than Kerri Rigsby’s sex life.
It is worth noting that buried in the Dickie Scruggs case publicity was a little noticed news story about Forensic flipping and cutting a deal with the Katrina Litigation Group in exchange for their cooperation. It will be interesting to hear what they have to say about their part in this alleged criminal racketeering enterprise.
I have updated the Katrina Insurance Case Documents page to include the Shows case and added files to McIntosh. Please bear with us while we build our data base. Without further commentary on my part here is today’s Anita Lee’s Sun Herald story on Shows:
A lawsuit that Dickie Scruggs and his Scruggs Katrina Group filed for 22 policyholders against State Farm is moving forward in U.S. District Court. Continue reading “Shows RICO Suit Lawsuit Against State Farm: Amendment Allowed”
“What you risk reveals what you value.” Jeanette Winterson
I’m reminded of that quote when I think of Republican Senator Eugene “Buck” Clarke, chair of the Senate Insurance Committee who just last month proclaimed his ignorance of the interplay of insurance issues with existing state law and used that lack of knowledge to kill every Katrina related reform introduced in the State Senate. The reported party line as recounted multiple times in the Clarion Ledger was something along the lines of:
But his legislation languished in the Insurance Committee chaired by Sen. Eugene Clarke, R-Hollandale, before dying under a deadline.
Rather than bring the bills out of committee and up for debate before the full Senate, Clarke said he wanted more time to study the issue. This is his first committee chairmanship. He’s starting his second term as senator. Continue reading “State Senate GOP Blocks House Insurance Measures”
Zach is innocent and he’s unwilling to plead to something that he didn’t do,” said his lead defense attorney, Todd Graves of Kansas City.
At 33, David Zachary Scruggs – the cum laude and magna-admired lawyer-son of Dickie Scruggs – was the youngest of the five indicted defendants in USA v Scruggs. Continue reading “Zach-“unwilling to plead to something that he didn’t do””
Zach is innocent of the charges pressed against him and we look forward to his exoneration – and with that and that former Mississippi Attorney General Mike Moore makes his formal entry of appearance on behalf of Zach Scruggs.
Think on that a while – more on what Moore’s appearance suggests later.
Update: Here is the Sun Herald story
Concern About Credit Crisis Leads Fed to Make Rare Weekend Move; How bad is it? I just checked one finance board with 156 comments posted in ten minutes – some feel they, too, have a Stake Through the Heart.
Look who’s making money.
If Scruggs made his cases on a three legged stool: the law, politics, and public relations, how many legs are on the stool making this case?
Four of the five defendants in USA v Scruggs have now changed their plea from not guilty to guilty.
In fairness to all – the government, the defendants, and Judge Biggers, I have pulled from statements from the transcripts made when pleas were entered and added the transcript from Patterson’s plea as well as the transcript of Balducci’s testimony before the Grand Jury. Continue reading “Guilty or not – quilty of what? Read the transcripts.UPDATED”