Yearly Archives: <span>2008</span>

North Carolina Wildfire Could Burn for Months

Fire officials warned people living near a massive wildfire at a federal wildlife refuge in eastern North Carolina that the blaze could smolder for months in the peat-filled soil. The fire burned about 30,000 acres in and around the Pocosin …

Declarations

Asbestos Ruling “We hold that the Act cannot constitutionally be so applied and return the cases to the trial court for consistent proceedings.” —The Florida Fourth District Court of Appeal ruled, stating that the Florida Asbestos and Silica Compensation Fairness …

Why Regional Insurers Rate

Regional and Specialty Carriers Are Critically Important Carriers in the Marketplace This year, 2008 marks the second year that Demotech, Inc., as Insurance Journal‘s Official Research Partner, has published our Company Classification System, including the list of Super Regional Property/Casulaty …

Business Moves

Max Specialty, Guaranty Casualty Max Specialty Insurance Co., of Richmond, Virginia, the U.S. excess and surplus lines unit of Max Capital Group Ltd., reports it has acquired Commercial Guaranty Casualty Insurance Co., an insurance entity licensed to write business in …

Former Mississippi Risk Consultant to Repay $380K

The Mississippi Supreme Court has upheld a ruling that a former Hinds County risk management consultant must repay the county $380,000. Hinds County sued Shappley Harris for making changes in invoices from the Mississippi Municipal Association between 2002 and 2003. …

Hurricane Forecasts Have Limited Value for Planners, Insurers

They May Help the Public Think About Upcoming Storms But Forecasts Have Been Largely Misused by National Media, Says One Expert Each April, weather wizard William Gray emerges from his burrow deep in the Rocky Mountains to offer his forecast …

Florida Extends State Insurer’s Rate Freeze for Another Year

When the dust settled at the end of the 2008 legislative session, Florida lawmakers had presented their governor with a full plate of insurance issues, the most significant of which is a bill including a rate-freeze extension for state-run Citizens …

People

Thomas F. Motamed has stepped down as vice chairman and chief operating officer for The Chubb Corp. to become chairman and chief executive officer of CNA Financial Corp., a position he will assume as of June 8, 2009. Motamed worked …

New Score Rates Insurers’ Hurricane Risk Assessment

The first of a new mark that rates how well insurance companies have assessed their potential catastrophe losses has been issued to HomeWise Insurance Companies by Karen Clark & Co. HomeWise earned an IMARC Data Score of 675 (Excellent), which …

Unmanned Planes Could Change Forecasting

Government scientists believe small unmanned airplanes sent to hurricanes’ cores could lead to revolutionary advances in storm forecasting and measurement. The drones are able to fly far lower than manned hurricane hunter planes and can beam back information from close …