Yearly Archives: <span>2006</span>

Arch Q1 Net up 12% to $129.6 Million; Conference Call Details

The Bermuda-based Arch Capital Group Ltd. reported net income available to common shareholders for the 2006 first quarter was $129.6 million, or $1.71 per share, compared to $115.9 million, or $1.57 per share in the same period of 2005, a …

Minn. Life Says Think ‘Partnership’ on Retirement Benefits

Public employers can retain valuable staff, attract new talent and help employees fund retirement by encouraging a shift from a “benefits” mentality to a “partnership” mentality. That’s the message Joe Chang from Minnesota Life Group Insurance will share on May …

Ohio-based The Midland Company Extends Stock Repurchase Program

Cincinnati-based, The Midland Company, a provider of specialty insurance products and services, this week announced that its Board of Directors has extended its existing stock repurchase program until July 2008. The Board, in a written statement said that it has …

Cancer Rate Linked to Former Mass. Textile Site Where Kids Played

Massachusetts health officials trying to resolve a decades-old mystery about a cluster of cancer cases in Ashland have concluded that the illnesses are linked to a former textile dye-making plant with waste ponds that some children used as swimming holes. …

Arizona Bill to Tighten Malpractice Rules Goes to Gov. Napolitano

The Arizona House reversed itself and approved Senate-passed legislation to make it harder to win medical malpractice lawsuits over emergency health care. The House had previously watered down an earlier version of the legislation. But members voted 37-20 on Wednesday …

R.I. Governor To Meet with Two Beacon Directors He Wants Out

Gov. Don Carcieri this week offered to meet with two men he is trying to remove from the board of directors of Beacon Mutual Insurance Co., which is being audited by the state after allegations of questionable business practices. The …

U.S. Senate Panel Advises Scrapping, Then Rebuilding, FEMA

The United States’ disaster response agency should be abolished and rebuilt from scratch to avoid a repeat of government failures exposed by Hurricane Katrina, a Senate inquiry has concluded. Crippled by years of poor leadership and inadequate funding, the Federal …

Lawrence, Mass. Attorney Found Guilty in Staging of Insurance Fraud

A Massachusetts jury found a Lawrence lawyer guilty of auto insurance fraud in a scheme that prosecutors say involved staged accidents and phony victims. A jury in Salem Superior Court jury deliberated for two days before convicting Charles Lonardo, 45, …

Calif. Woman Spanked in Front of Co-Workers Seeks $1.2 Million

Lawyers for a California woman who was spanked in front of her co-workers as part of what her employer said was a camaraderie-building exercise asked a jury this week for at least $1.2 million for the humiliation she claimed to …

Actuaries to White House: Federal Insurance Backstop Needed

The American Academy of Actuaries, in response to questions posed by the President’s Working Group on Financial Markets, has submitted its terrorism risk insurance analysis, which concludes that a national framework for terrorism risk is necessary if terrorism coverage is …