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Famed plaintiffs’ attorney Richard Scruggs and four others habe been indicted by a federal grand jury for allegedly attempting to bribe a Mississippi judge. In an indictment filed last Wednesday, the grand jury charged that Mr. Scruggs and the other defendants—two of whom are members of his law firm—offered $50,000 to Mississippi Circuit Court Judge… Continue reading Katrina Lawyer Scruggs Indicted on Bribe Allegations

In November New Jersey became the second state after Washington to ban driving while texting—a growing problem on the road. Distractions like cell phones, text messages, the radio or even talkative passengers can prove deadly, according to the Insurance Information Institute (I.I.I.).       A survey by Liberty Mutual Group and Students Against Destructive Decisions… Continue reading Texting Biggest Driving Distraction on Road Among Teens

Marsh & McLennan Cos. Inc. has named Daniel S. Glaser chief executive officer of its Marsh Inc. brokerage operation. Mr. Glaser replaces Brian Storms, who was ousted from the top spot at Marsh in September. He currently is managing director of AIG Europe (U.K.) Ltd. and regional president of the U.K. and Ireland division of… Continue reading Marsh Names Glaser as CEO of Brokerage Operation

In an article today in the “Wall Street Journal” about an analysis that was conducted on behalf of the publication of more than $2.5 million in subprime loans made since 2000, indications are that plenty of people with seemingly good credit are also caught in the subprime trap. The analysis shows that as the number… Continue reading Subprime Crisis Hits Credit-Worthy Borrowers Too

The National Association of Insurance Commissioners (NAIC) will continue to consider a wide range of issues at its winter meeting Dec. 1 – 4. The Property Casualty Insurers Association of America (PCI) will be closely monitoring the activities of the Reinsurance Task Force, International Solvency and Accounting Working Group, Principles-Based Reserving Working Group, NAIC/AICPA Working… Continue reading PCI Monitoring Key Issues to be Highlighted at Upcoming NAIC Winter Meeting

The use of credit information by insurers benefits a majority of Wisconsin consumers according to testimony made by the American Insurance Association in the Assembly Committee on Insurance on November 29. “Wisconsin consumers pay some of the lowest insurance premiums in the country and enjoy a stable, vibrant insurance marketplace,” said David Snyder, AIA vice… Continue reading AIA Comments on Credit Scoring Benefits in Wisconsin

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has published in the Federal Register a proposed rule to enhance the protection provided to construction employees working in confined spaces. The agency is accepting public comments on the proposed standard until January 28, 2008. “The existing construction standard for confined spaces would be… Continue reading OSHA Issues Confined Spaces in Construction Proposed Rule

Federal Reserve Chairman Ben S. Bernanke signaled “renewed turbulence” in markets may have shifted risks between growth and inflation, cementing speculation the central bank will cut interest rates as soon as next month. “Uncertainty surrounding the outlook” is “even greater than usual,” requiring the Fed to be “exceptionally alert and flexible,” Bernanke said in a… Continue reading Fed Chairman Bernanke Hints at Future Rate Cuts

Major financial institutions and the Bush administration are nearing an agreement that would temporarily freeze interest rates on certain troubled subprime home loan. The plan is being negotiated between regulators including the Treasury Department and a coalition of mortgage-related companies including Citigroup Inc., Wells Fargo & Co., Washington Mutual Inc. and Countrywide Financial Corp. People… Continue reading Paulson, US Banks in Talks to Freeze Rates on Subprime Loans

According to study done by TowerGroup Inc., a research and advisory services firm focused exclusively on the global financial services industry. rapid advancements in technology are poised to reshape the insurance landscape over the next five to 10 years. The TowerGroup report, titled “The Digital Chauffeur: Real-World Principles of Innovation for the Insurance Industry,” addresses… Continue reading Technology Innovation to Reshape Insurance Landscape in the Next Ten Years