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A man accused of trying to firebomb an AM radio station in Duluth is to appear in court for a preliminary hearing.A court representative says 51-year-old disgruntled ex-salesman who had recently been fired (police describe) has a hearing scheduled for Wednesday morning.Chae faces two counts of possession of a destructive device, one count of first-degree arson and one count of aggravated battery.Authorities say he tried to use a molotov cocktail to set a fire at Korean Media Group on Monday. But authorities say the plan backfired when the molotov cocktail they believe he was carrying exploded and set him on… Read More »Fired Salesman Enters Georgia Radio Station with Firebomb

AIG Small Business, a unit of AIG Commercial Insurance, announced the availability of contractors pollution liability (CPL) insurance designed specifically for the needs of contractors with revenues under $10 million. Featuring limits as low as $300,000 and a minimum deductible of $2,500, CPL provides legal liability coverage for bodily injury, property damage, and environmental damage resulting from covered operations at a job site, whether performed by the contractor or a subcontractor.“Small residential builders, roofers, and other types of general contractors frequently face exposure to environmental risks associated with their work or the work of subcontractors under their management,” said Brian… Read More »AIG insurance company Offers Pollution Liability Insurance for Contractors

A federal judge ruled that families of those killed aboard Comair Flight 5191 in Kentucky may seek punitive damages in a trial set for August 4. The ruling is considered a victory for the plaintiffs.In his ruling made public June 9, U.S. District Judge Karl Forester says there was enough evidence to allow a jury to decide if the airline’s management was responsible for the Aug. 27, 2006, crash that killed 49 people at Lexington’s Blue Grass Airport.Comair has admitted its pilots made mistakes in taking off from the wrong runway, but argued it did not authorize their conduct.An attorney… Read More »Kentucky Plane Crash: Families Can Seek Punitive Damages

As the price of gasoline tops four dollars a gallon nationwide consumers who are driving less could save an average of 5 to 15 percent on their automobile insurance rates – about $47 to $142.That’s according to the Consumer Federation of America (CFA), which says that skyrocketing fuel costs could mean savings on automobile insurance as drivers react to high gas prices by using mass transportation, car-pooling, taking fewer trips to the store or curtailing their vacations.“Auto insurance rates are partially based on how much you drive and how you use your car,” said J. Robert Hunter, director of insurance… Read More »Drivers Urged to Seek Insurance Rate Relief As Gas Prices Soar

Insurance Commissioner Steve Poizner announced Olav A. Flores, 35, of Cedar Glen, surrendered himself to San Bernardino Superior Court after learning an arrest warrant was issued charging him with one count of insurance fraud for falsely claiming that his house was damaged due to the fires. A subsequent investigation revealed that the house had not been damaged. “Insurance fraud like this hurts honest consumers and overall, and it costs every man, woman and child in California $500 a year,” said Poizner.Flores submitted a homeowner’s property claim for smoke damage to the interior of his home in Cedar Glen. Flores made… Read More »California Commissioner Announces Arrest in Felony Insurance Fraud

Chatsworth Company Allegedly Underreported Payroll; Pleads No Contest to Fraud Insurance Commissioner Steve Poizner announced Cover All, Inc., a 15-year old flooring and carpet installation company headquartered Chatsworth, pled no contest to one count of insurance fraud in Los Angeles County Superior Court. On June 2, 2006, the corporation was placed on five years probation and ordered to pay $6.3 million restitution to the victim, State Compensation Insurance Fund (SCIF).The case was referred to the California Department of Insurance’s Fraud Division (CDI) by SCIF and prosecuted by the Los Angeles County District Attorney’s Office.“Fraud is a major cost-driver in California’s… Read More »California Commissioner Announces $6.3 Million Restitution in Workers’ Comp Fraud Case

NEWARK, Calif.—Risk Management Solutions Inc. is making some elements of its information on catastrophes freely available on its Web site, the Newark, Calif.-based catastrophe modeler announced Wednesday.The RMS “Cat Updates,” which was previously available to RMS clients, offers damage summaries following significant catastrophes. The summaries are updated as new information becomes available, according to RMS.Information on estimated insured losses and other more detailed analysis will be available only to RMS subscribers.The free service is accessible at http://www.rms.com/catastrophe/catupdates/.

Hundreds of people who lost homes in last year’s wildfires did not have enough insurance to cover their rebuilding costs, according to a survey sponsored by United Policyholders, a San Francisco consumer organization. The survey asked 274 people about the losses they incurred in the wildfires that last fall swept across Southern California.Three-quarters of respondents said they didn’t have enough insurance to pay their rebuilding costs.And only 46 percent of those in the survey settled claims with their insurance companies; only a third of these said they were offered enough money to cover increased construction costs.For instance, Stan Newman figured… Read More »Survey: Hundreds Underinsured in Last Year’s California Wildfires

TRENTON, N.J.—A computer technician struck by a car while crossing a street to purchase cigarettes and snacks is entitled to medical and temporary disability workers compensation benefits, a New Jersey appeals court ruled last week.In 2003, the technician, Carlos Cruz, was driving a company van en route to a client when he parked across the street from a delicatessen to take his “usual morning break,” according to court records in the case of Carlos Cruz vs. Micros Retail Systems Inc.The deli was about five blocks off the direct route from his employer’s office, where Mr. Cruz began his trip, to… Read More »Court Ruling: Off-premises injury compensable

The rise in world food prices carries implications for both rich and poor countries – the latter will more fully feel the impact, as well as the insurance industry. The recent conference in Rome, organized by the UN’s Food and Agriculture Organization (FAO), “has warned industrialized countries that unless they increase yields, eliminate barriers and move food to where it is needed, a global catastrophe could result,” said an article on the Lloyd’s web site.UN Secretary General Ban Ki-moon told the conference that food production has to rise by 50 percent by 2030 to meet demand. Food costs have reached… Read More »Lloyd’s Analyzes Impact on Insurance of World Food Price Hikes