Insurance Journal » Detroit http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Sat, 28 Feb 2015 01:03:03 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 Detroit Mulling City-Sponsored Auto Insurance http://www.insurancejournal.com/news/midwest/2014/11/20/347677.htm Thu, 20 Nov 2014 17:43:20 +0000 http://www.insurancejournal.com/?p=347677 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 …

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Nearby Homes Catch Fire After Vacant House Explodes in Detroit http://www.insurancejournal.com/news/midwest/2014/11/10/346388.htm Mon, 10 Nov 2014 16:50:46 +0000 http://www.insurancejournal.com/?p=346388 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 …

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Detroit Bankruptcy Exit Plan Cleared by Judge http://www.insurancejournal.com/news/midwest/2014/11/09/346335.htm Mon, 10 Nov 2014 03:01:21 +0000 http://www.insurancejournal.com/?p=346335 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 …

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Bankrupt Detroit, Bond Insurer Reach Agreement http://www.insurancejournal.com/news/midwest/2014/09/10/340116.htm Wed, 10 Sep 2014 16:40:06 +0000 http://www.insurancejournal.com/?p=340116 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 …

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Parker Joins Berkley Fire and Marine Underwriters in Detroit http://www.insurancejournal.com/news/midwest/2014/09/08/339956.htm Tue, 09 Sep 2014 02:56:32 +0000 http://www.insurancejournal.com/?p=339956 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 …

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Post-Floods, Detroit Residents Shop for Appliances, Supplies http://www.insurancejournal.com/news/midwest/2014/08/26/338602.htm Tue, 26 Aug 2014 16:23:47 +0000 http://www.insurancejournal.com/?p=338602 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 …

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40% of Properties Flooded in Detroit Suburb; Governor Declares Disaster http://www.insurancejournal.com/news/midwest/2014/08/15/337675.htm Fri, 15 Aug 2014 16:44:34 +0000 http://www.insurancejournal.com/?p=337675 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 …

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Severe Floods Overwhelm Detroit Area; Slow Vehicle Production http://www.insurancejournal.com/news/midwest/2014/08/13/337454.htm Wed, 13 Aug 2014 16:33:09 +0000 http://www.insurancejournal.com/?p=337454 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 …

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Detroit Bankruptcy Judge Rejects Insurer Requests http://www.insurancejournal.com/news/midwest/2014/06/27/333153.htm Fri, 27 Jun 2014 16:12:03 +0000 http://www.insurancejournal.com/?p=333153 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 …

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Bond Insurer Syncora Fighting City’s Plans in Detroit Bankruptcy http://www.insurancejournal.com/news/midwest/2014/06/26/333040.htm Thu, 26 Jun 2014 16:08:11 +0000 http://www.insurancejournal.com/?p=333040 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 …

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Stockton Bankruptcy Exit Trial Starts Today http://www.insurancejournal.com/news/west/2014/05/12/328822.htm Mon, 12 May 2014 16:06:29 +0000 http://www.insurancejournal.com/?p=328822 The bankrupt city of Stockton, California, will face off against a holdout creditor this week in a closely watched municipal bankruptcy case pitting the rights of impaired bondholders against retirees and other creditors. At issue is whether the northern California …

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Segal Group Acquires Employee Benefits Firm Moroni Fantin in Michigan http://www.insurancejournal.com/news/midwest/2014/01/07/316266.htm Tue, 07 Jan 2014 17:33:58 +0000 http://www.insurancejournal.com/?p=316266 The Segal Group announced it has acquired a portion of the business of Moroni Fantin, an employee benefits consulting firm located in the Detroit, Mich.-area. Moroni Fantin specializes in working with Michigan and national, mid-market, self-insured health plans. Robert D. …

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As Bond Insurers Drop Objections, Detroit Bankruptcy Progresses http://www.insurancejournal.com/news/midwest/2013/12/18/314876.htm Wed, 18 Dec 2013 16:55:15 +0000 http://www.insurancejournal.com/?p=314876 Detroit’s path through bankruptcy began to take shape on Dec. 17, with a second bond insurance firm ready to drop its objections to a controversial city financing plan, joining another bond insurer, bondholders and a committee of retired city workers …

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Michigan Woman Charged In Fake Auto Insurance Policy Scheme http://www.insurancejournal.com/news/midwest/2013/10/07/307411.htm Mon, 07 Oct 2013 16:19:58 +0000 http://www.insurancejournal.com/?p=307411 A 40-year-old woman has been arrested in the sale of more than 300 bogus auto insurance policies to Detroit, Mich.-area drivers. The Wayne County sheriff’s office says Timmica Morton was arraigned on charges that she used a computer to commit …

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Auto Tire and Rim Thefts Increasing in Metro Detroit http://www.insurancejournal.com/news/midwest/2013/09/05/304137.htm Thu, 05 Sep 2013 16:01:37 +0000 http://www.insurancejournal.com/?p=304137 Tire and rim thefts are increasing sharply in Detroit, Mich., according to Help Eliminate Auto Thefts (H.E.A.T.) and the American Car Rental Association (ACRA). H.E.A.T. is Michigan’s statewide auto theft prevention program that coordinates citizen action with law enforcement agencies …

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Judge Blocks Lawsuits Challenging Detroit Bankruptcy http://www.insurancejournal.com/news/midwest/2013/07/26/299688.htm Fri, 26 Jul 2013 05:42:13 +0000 http://www.insurancejournal.com/?p=299688 A federal judge has agreed with Detroit, Mich., and stopped any lawsuits challenging the city’s bankruptcy, declaring his courtroom the exclusive venue for legal action in the largest filing by a local government in U.S. history. The decision by U.S. …

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Detroit Says It’s Settled with Some Creditors http://www.insurancejournal.com/news/midwest/2013/07/17/298793.htm Wed, 17 Jul 2013 16:02:27 +0000 http://www.insurancejournal.com/?p=298793 Detroit has reached an “important settlement” with some creditors as it negotiates ways to get rid of billions of dollars of debt, according to court documents filed on July 15, though details of the agreement haven’t been released. The disclosure …

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Insurer Backing Detroit Bonds Opposes City Plans http://www.insurancejournal.com/news/midwest/2013/07/10/297979.htm Wed, 10 Jul 2013 16:19:53 +0000 http://www.insurancejournal.com/?p=297979 An insurance company that backs more than $170 million in Detroit bonds says it opposes a plan by the city’s state-appointed emergency manager to restructure the city’s finances. Ambac Assurance Corp. said in a statement issued on July 8 that …

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Detroit Files Lawsuit Against 1 of Its Insurers http://www.insurancejournal.com/news/midwest/2013/07/08/297708.htm Mon, 08 Jul 2013 16:26:20 +0000 http://www.insurancejournal.com/?p=297708 Detroit has filed a lawsuit against an insurance company the city says is improperly withholding $11 million a month in casino payments and taxes. According to The Detroit News, the suit against Syncora Guarantee Inc. was filed on July 5. …

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Towing Costs Jump in Detroit from $75 to $215 http://www.insurancejournal.com/news/midwest/2013/05/06/291009.htm Mon, 06 May 2013 15:45:19 +0000 http://www.insurancejournal.com/?p=291009 The cost for getting back a vehicle that’s towed in Detroit is going up in a big way. Detroit announced that Detroit City Council approved the new rate for recovering vehicles that are towed to the city impound lot or …

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Michigan Tells Auto Dealer to Stop Selling Insurance http://www.insurancejournal.com/news/midwest/2013/04/16/288563.htm Tue, 16 Apr 2013 16:20:00 +0000 http://www.insurancejournal.com/?p=288563 Michigan’s Department of Insurance and Financial Services (DIFS) has ordered a Detroit-area auto dealer to stop selling insurance without a license. The DIFS issued a cease and desist order against Monaco Motors Ltd., Camillo Anthony Monaco, and Darrell Lees, for …

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Detroit to Lay Off 5% of Workforce; Investigate Insurance, Work Comp Fraud http://www.insurancejournal.com/news/midwest/2012/12/10/273357.htm Mon, 10 Dec 2012 17:17:31 +0000 http://www.insurancejournal.com/?p=273357 Detroit officials say they’re making plans to lay off 400 to 500 city employees in the new year, roughly 5 percent of the workforce. The disclosure was made Dec. 7 as Mayor Dave Bing said he has enough votes in …

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Michigan Regulators Say Fake Auto Insurance Sold in Metro Detroit http://www.insurancejournal.com/news/midwest/2012/11/15/270672.htm Thu, 15 Nov 2012 17:02:02 +0000 http://www.insurancejournal.com/?p=270672 The Michigan Office of Financial and Insurance Regulation (OFIR) recently announced that some Detroit-area drivers may have unknowingly purchased fraudulent automobile insurance policies from unlicensed insurance agent. According to the OFIR, Shaker Uddin Sadeak, through an unlicensed insurance agency named …

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Chrysler Factory Employee Kills Co-Worker, Self in Detroit http://www.insurancejournal.com/news/midwest/2012/09/21/263939.htm Fri, 21 Sep 2012 16:11:23 +0000 http://www.insurancejournal.com/?p=263939 An employee fatally stabbed a co-worker Thursday at a Chrysler factory in Detroit and then fled to a city park where he killed himself, police said. The stabbing was reported around 8 a.m. at a Chrysler plant that makes the …

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Aon Risk Solutions Promotes McCorry, Williams in Detroit Office http://www.insurancejournal.com/news/midwest/2012/08/14/259268.htm Tue, 14 Aug 2012 16:13:18 +0000 http://www.insurancejournal.com/?p=259268 Aon Risk Solutions has promoted LeAnne McCorry as national managing principal of the business and executive chairman of the Detroit, Mich., office and Carol Williams as resident managing director and chief executive officer of the Detroit office. McCorry, who has …

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Detroit Schools to Pay $425K To Student’s Family http://www.insurancejournal.com/news/midwest/2012/05/03/246220.htm Thu, 03 May 2012 16:06:09 +0000 http://www.insurancejournal.com/?p=246220 A federal judge in Michigan has ordered the cash-strapped Detroit Public Schools to pay $425,000 to the family of a special education student who had a seizure and died after being forced to walk unassisted by a school aide. The …

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Insurance to Cost $10K per Bus Annually for Private Detroit Bus Line http://www.insurancejournal.com/news/midwest/2012/04/09/242564.htm Mon, 09 Apr 2012 15:56:14 +0000 http://www.insurancejournal.com/?p=242564 A young entrepreneur from the suburbs is planning to start a private bus line in downtown Detroit, Mich. The Detroit News reports Andy Didorosi is set to open the Detroit Bus Co., a private company with three full-size school buses. …

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$20M for Detroit Demolitions Remains Unused http://www.insurancejournal.com/news/midwest/2012/02/17/236072.htm Fri, 17 Feb 2012 16:42:47 +0000 http://www.insurancejournal.com/?p=236072 A published report says Detroit, Mich., has $20 million intended to demolish burned-out dwellings that’s sitting unused. The Detroit Free Press reports that the money is part of the Fire Insurance Escrow Fund. It was created by a law requiring …

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Detroit Neighborhood Plans 300 Demolitions http://www.insurancejournal.com/news/midwest/2011/06/24/203912.htm Fri, 24 Jun 2011 13:12:47 +0000 http://www.insurancejournal.com/?p=203912 The Detroit enclave of Highland Park plans to demolish more than 300 abandoned and neglected structures. The Detroit Free Press reported that the demolitions are paid for by part of a $13.8 million federal grant. Some have taken place already. …

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