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everyone plays its own dirty game

Make Sure to Insure Your Cargo in California

Very surprising news we got today from the Golden State:  California led the nation in cargo thefts last year, with 247 of 747 thefts in the U.S. that were estimated at $171 million, according to a report released last week by the National Insurance Crime Bureau. Texas was the next most-targeted state for cargo thefts, with 91 in 2010. There also were 66 in Florida, 56 in Illinois, 40 in Tennessee and 39 in Georgia, according to the Des Plaines, Ill.-based NICB’s ForeCAST Report.  Electronics were most often the target of cargo theft, with 139 incidents. There were 108 cases… Read More »Make Sure to Insure Your Cargo in California

Proposed Insurance Disclosure Notice in California

California legislators are considering whether to allow certain insurance policies and  disclosures to be consolidated into one document, printed in smaller type. Currently, the  law requires an insurer, upon receiving notice of a claim, to immediately, but not more than 15 calendar days after receipt, provide the insured with a legible reproduction of the specified Insurance Code section, in at least 12-point type, detailing acts prohibited as unfair trade practices, and a written notice, as specified. SB 596 would require that the contents of the written notice be changed and be in at least 10-point type. The bill also would… Read More »Proposed Insurance Disclosure Notice in California

No Rough Approximations in Michigan

Should I avoide going to Michigan? Probably yes… But should I ever have to go to Bay City, MI –  I’d better have my GPS on at all times. Or something bad can happen to me – like with Bay City, MI resident, who tripped and fell on a sidewals and has lost his lawsuit against the city because he gave the wrong location. He trip and fall and informed the city of the bad sidewalk, but the case was rejected because he said that the accident occurred on NE corner, where it was actually on NW corner. The court of appeal dissmissed the case, saying:… Read More »No Rough Approximations in Michigan

Pinnacol Tax Heaven is not Over

Colorado law makers are thinking to take away some tax exemptions for Pinnacol Assurance. The Budget Committee decided last week to draft the legislation. The decision follows the release of documents showing that the state-chartered workers’ compensation insurance company spent more than $300K on a trip to Pebble Beach, Calif.. Hey, why not, if Pinnacol pays no state or federal taxes. It operates largely like a private insurer but it must provide insurance to any company that can’t get coverage elsewhere. Some of the proposals are to continue to exempt Pinnacol from taxes on those last-resort polices but Pinnacol would have to start… Read More »Pinnacol Tax Heaven is not Over

New Milestone of Cyber Crime

Complaints about Internet crimes have reached a milestone. On Nov. 9, the Internet Crime Complaint Center (IC3) logged its 2 millionth consumer complaint alleging online criminal activity. The IC3, a partnership between the FBI and the National White Collar Crime Center, became operational in May 2000 and received its 1 millionth complaint seven years later, on June 11, 2007. It took half that time to receive the 2 millionth complaint., which may be due to the IC3’s increased visibility as well as the continued growth of cyber crime. The IC3 refers cyber crime complaints to law enforcement agencies. Since its… Read More »New Milestone of Cyber Crime

Invest in Security Cameras

Authorities say a central New York convenience store’s surveillance cameras caught a man purposely pouring soda on the floor and then faking a fall so he could file an insurance claim against the business. Insurance fraud investigators say the store’s security videotape shows Barnes pouring soda on the floor. Officials say “injured” filed a claim with the stores insurer and later withdrew the claim. Paperless Comment: all business owners, are encouraged to install security cameras, and it doesn’t cost much these days. Those cameras can be setup to record only when there is movement detected. With development of technology, 24/7 access via internet… Read More »Invest in Security Cameras

Zurich Settles Half a Billion Claim

Zurich Financial Services Ltd. and its Farmers Group Inc. subsidiary are paying $455 million to settle a class-action lawsuit challenging management service fees paid to Farmers, Zurich said Thursday. Law suite details you can read on your own – Google is your friend. We just want to point to your attention that Zurich and Farmers Group “do not accept that there is any basis” for the claims regarding the management fees, but Zurich said it decided to settle “in order to provide certainty to its shareholders and clarity to customers as well as to avoid the risks and significant exposure of… Read More »Zurich Settles Half a Billion Claim

Poor Service Leads to Fraudulent Insurance Claims: Survey

More than half of U.S. consumers say poor service from an insurance company is more likely to cause an individual to commit fraud against that company, according to a survey by Accenture. The survey also reveals a significant increase in claims filed, with nearly half of U.S. adults saying they had filed property/casualty insurance claims at some time, up from less than one-third in a similar survey conducted in 2003. The proportion of individuals who have filed an insurance claim increases with age and income the survey shows. For example, among people over 55, more than 60% have filed a… Read More »Poor Service Leads to Fraudulent Insurance Claims: Survey

Pregnancy Discrimination

As reported by WorkForce.com (full article: http://www.workforce.com/section/00/article/27/30/48.php_ A pregnant welder who was transferred from her job can pursue pregnancy discrimination and Americans   with Disabilities Act claims, a divided (2-1) federal appeals court has ruled in largely overturning a lower   court decision. However, a panel of the 6th U.S. Circuit Court of Appeals in Cincinnati upheld the lower court’s ruling in   Heather Spees v. James Marine Inc. and JamesBuilt L.L.C. that dismissed Spees’ claim that her subsequent   termination also constituted pregnancy discrimination. According to the ruling, Spees was hired in 2007 to work as a welder at… Read More »Pregnancy Discrimination

Property Insurance Bill Vetoed in Florida

The bill, sponsored by Sen. Garrett Richter, R-Naples, have addressed solvency concerns by imposing a higher capital requirement of $15 million for a new home insurer and provide all potential rate increases with a review and approval or rejection by Office of Insurance Regulation prior to anything being paid by consumers Elected governor vetoed the bill because he believes it would have made it easier for insurance carriers to get rate hikes to cover reinsurance costs up to 10% a year. The insurance commissioner still would have had to approve these hikes but the process would have been streamlined under… Read More »Property Insurance Bill Vetoed in Florida