Detroit News

Detroit Mulling City-Sponsored Auto Insurance

The City Council has approved a contract for a firm to study whether it’s feasible for Detroit, Mich., to create its own city-sponsored auto insurance company. Mayor Mike Duggan’s office says the $75,000 contract for Pinnacle Actuarial Resources was passed …

Nearby Homes Catch Fire After Vacant House Explodes in Detroit

About a half-dozen homes in southwestern Detroit have been damaged or destroyed by fires that started after an explosion in a vacant house. Mayor Mike Duggan’s spokesman John Roach says investigators believe the explosion on Oakdale Street in the afternoon …

Detroit Bankruptcy Exit Plan Cleared by Judge

A judge cleared Detroit to emerge from bankruptcy on Nov. 7, approving a hard-fought turnaround plan with a fervent plea to the people of this one-time industrial powerhouse to “move past your anger” and help fix the Motor City. “What …

Bankrupt Detroit, Bond Insurer Reach Agreement

Detroit and Syncora Guarantee Inc. reached an agreement in their dispute over claims in the city’s $7 billion debt-reduction program that the two sides said may “profoundly alter” the city’s bankruptcy-exit plan. Detroit and Syncora today requested the postponement of …

Parker Joins Berkley Fire and Marine Underwriters in Detroit

Chicago, Ill.-based Berkley Fire and Marine Underwriters hired Jaymee Parker as a territory underwriting manager. She is based in Detroit, Mich. Parker will be responsible for agency relationships and underwriting growth for Michigan. Parker most recently served as a territorial …

Post-Floods, Detroit Residents Shop for Appliances, Supplies

Detroit-area residents are shopping for appliances and home-repair supplies in droves after recent flooding damaged houses and the property inside. The Detroit News reports thousands of shoppers visited big-box appliance stores and local retailers over the weekend to purchase everything …

40% of Properties Flooded in Detroit Suburb; Governor Declares Disaster

Officials in the Detroit suburb of Dearborn say about 40 percent of homes and commercial properties in the city were flooded or had sewer backups in their basements when heavy rain hit the area on Aug. 11. The National Weather Service …

Severe Floods Overwhelm Detroit Area; Slow Vehicle Production

A woman died when her vehicle became stranded in 3 feet of water in suburban Detroit, after heavy rain across southeastern Michigan left many roads impassable. Fearing more motorists could become stranded a day after a storm dumped more than …

Detroit Bankruptcy Judge Rejects Insurer Requests

Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape …

Bond Insurer Syncora Fighting City’s Plans in Detroit Bankruptcy

Bond insurer Syncora Guarantee Inc has emerged as Detroit, Mich.’s chief nemesis in the city’s historic bankruptcy case and is fighting as if its financial life depends on a decent recovery on its $400 million exposure to the city. Since …