Articles by Young Ha

Hartford’s McGee Discusses Company’s Turnaround, Transformation

The Hartford Financial Services Group’s Liam McGee, who stepped down as president and CEO on July 1 but will remain executive chairman until next year’s shareholder meeting, spoke about the company’s transformation at the second quarter earnings conference call Thursday. …

Employee Wins Comp Benefits in N.Y. After Run-In With Co-Worker’s Husband

A former manager at a New York supermarket is due workers’ compensation benefits for his preexisting post-traumatic stress disorder condition, which was exacerbated during his employment because of threatening conduct by a co-worker’s husband, a New York appellate court ruled. …

N.J. Court OKs Employment Contract That Shortened Worker’s Time to Sue

A New Jersey appeals court recently affirmed that a worker was bound by a contractual provision, contained in an employment application, which shortened the two-year statute of limitations for filing claims against his employer to six months. The appeals court …

Mass. Bill Would Add Liability Coverage to FAIR Plan’s Non-Owner Occupied Dwelling Policy

The Massachusetts Association of Insurance Agents (MAIA) is pushing a bill, S-465, that would require the Massachusetts Property Insurance Underwriting Association (MPIUA), also known as the Massachusetts FAIR Plan, to have liability coverage included in its Non-Owner Occupied Dwelling policy …

Liberty Mutual’s 1Q Profit Declines 14.5% to $272M

Liberty Mutual Holding Co. Inc. reported $272 million net profit for its 2014 first quarter, a decline of $46 million or 14.5 percent from $318 million net profit reported during the same period in 2013. The Boston-based insurer saw higher …

Vermont’s Updated Law Offers ‘Welcome Option’ for Inactive Captives

Vermont’s updated captive insurance law now offers inactive captives in the state a chance to apply for a “dormant” status. Vermont regulators said this latest modification reflects the state’s ongoing effort to introduce new prudent legislation for the captive industry. …

Mass. Regulator on Boston Bombing Claims, TRIA Reauthorization Effort

Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved. The data also revealed that among the 160 commercial property and business interruption claims made …

Vermont Regulators: Updated Law Offers ‘Welcome Option’ for Inactive Captives

Vermont’s updated captive insurance law now offers inactive captives in the state a chance to apply for a “dormant” status. Vermont regulators said this latest modification reflects the state’s ongoing effort to introduce new prudent legislation for the captive industry. …

Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay

A newly published study from Rutgers University in New Jersey shows that most state residents strongly support government programs aimed at lowering the likelihood of severe damage from future hurricanes. The study also found, however, that only a small fraction …

Group Urges N.Y. to Review Auto Insurance Rate Factors

A consumer advocacy group is urging New York regulators and legislators to undertake a thorough review of rate-making practices by auto insurers in New York. The New York Public Interest Research Group (NYPIRG) said that according to its analysis, some …