News Currents

Article

Cooper & McCloskey buys Moore Special Risk

Jim Moore, owner of Moore Special Risk, has sold his wholesale brokerage to Cooper & McCloskey Inc., a San Francisco-based wholesale brokerage started in 1997. The transaction was completed Jan. 1.

According to Keltie McCloskey of Cooper & McCloskey, “The two companies are very similar in the types of business they broker – all professional liability.” Additionally, he added, “Jim is really well respected in the business and is extremely knowledgeable in professional liability. It’s a big coup for us.”

McCloskey said Moore and his employee will join the Cooper & McCloskey’s office of 13employees in San Francisco. 111 Pine Street, Suite 915 San Francisco, Ca. 94111.

Lawsuit revived against Staples chain over insurance charges

A California appeals court has reinstated a lawsuit that claims office supply chain Staples Inc. cheated customers by charging them for insurance when shipping some products.

The 2nd District Court of Appeals, in a 2-1 decision, ruled that Staples was acting as an unlicensed insurance agent when it doubled the shipping insurance costs on some packages and took half of the premium.

Staples automatically covered products worth up to $100 but charged customers additional money to insure anything over that amount.

Staples offered the insurance through United Parcel Service. UPS charged Staples 35 cents per additional $100 of declared value. The lawsuit claimed Staples charged consumers 70 cents and pocketed the difference.

The suit, which seeks class-action status, alleged that Staples violated the state’s insurance regulations and unfair business practices law.

Staples argued it was simply making a profit on a product.

A Superior Court judge agreed with Staples, but the appellate court reversed the decision and said the extra charge was a “commission” for Staples.

Ariz. senator wants to deny funds
to drivers who leave keys in car

Glendale, Ariz., Republican Sen. Linda Gray is pushing legislation that would allow insurers to refuse to reimburse drivers if companies can prove that the keys were left anywhere in the vehicle, and not just the ignition, according to The Arizona Daily Star.

Gray’s proposal also would allow insurers to refuse to pay for items stolen from cars in similar circumstances, the paper said.

Arizona has the second highest rate of auto theft in the nation, according to. Enrique Cantu, director of the Arizona Automobile Theft Authority. AATA estimates that one in five stolen vehicles were unlocked. Cantu estimates theft of running vehicles was no more than 2 percent of all stolen cars. He said there is no data on how many thieves had access to car keys.

Was this article valuable?