Sticking His Neck Out
On the night of Nov. 6, David Wayne Derr was arrested at his residence and booked into Sacramento County Jail. On July 1, 1998, Derr claimed to have injured his neck while working for Atlas Disposal in Sacramento. He alleged …
Letter to the Editor
Insurance Journal welcomes readers’ letters. The editor reserves the right to edit letters for lenght and/or readability. Please address your letters to: Editor: Insurance Journal, 3570 Camino Del Rio North, Suite 200, San Diego, CA 92108-147, or send e-mail to: …
IRONING OUT THE DETAILS
Several important developments were reported following a recently concluded two-day meeting in Rome of the International Commission for Holocaust Era Insurance Claims (ICHEIC). Commission Chairman Lawrence Eagleburger, a former U.S. Secretary of State, announced that ICHEIC had reached an agreement …
INFORMATION OVERLOAD
The ability of insurers to transform their raw data into knowledge is critical to their survival; yet, despite this imperative, many data warehousing efforts have been postponed and others have failed, according to a recent Conning and Company study. In …
BERKSHIRE SEEING DOUBLE
Warren Buffett’s Berkshire Hathaway reported third-quarter profits this year nearly doubled from 1999. Modest insurance holdings gains helped Berkshire see a 90-percent increase in net earnings for the quarter ended Sept. 30. Berkshire earned $797 million or $523 per Class …
COMM. P/C RATES HARDEN
Property/casualty rates for small, medium and large commercial lines continued to rise between July 1 and Sept. 30, according to the Council of Insurance Agents and Brokers’ (CIAB) Commercial Insurance Market Index for the third quarter 2000. The report shows …
THIRSTY SETTLEMENT FOR COKE
A racial discrimination lawsuit brought by black employees of Coca-Cola Co. has ended in settlement as Coke agreed on Nov. 16 to pay $192.5 million. This figure includes $114 million in cash, $43.5 million to adjust salaries, $36 million to …
BROKER FEE REGS TAKE EFFECT
The new CDI broker fee regulations went into effect on Nov. 23. The regulations require that agents use a Standard Broker Fee Disclosure Form and Standard Broker Fee Agreement when a broker fee is charged on personal lines business. Failure …
NEW PAGE FOR RENTAL CARS
Effective Jan. 1, 2001, rental car companies that offer or sell insurance must be licensed by the California Department of Insurance (CDI) as an insurance agent, broker or as a rental car agent. The CDI has added a “Rental Car …
OFFICIALS WANT DEALS VOIDED
On Nov. 20, California Attorney General Bill Lockyer, joined by Insurance Commissioner Harry Low, asked a court to void controversial earthquake settlements that allowed insurance companies to donate to foundations rather than face fines for mishandling claims stemming from the …