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West Virginia to Use $22M from Drug Distributor Suit for Addiction Treatment
West Virginia’s Department of Health and Human Resources says it will use $22 million in settlement money from drug distributors to help address the addiction epidemic in the state. Legislation passed this year requires the department to increase inpatient treatment …

POSTED AUGUST 24, 2017 5:27 AM
Moultrie Hired as VP of Client Services of S.S. NESBITT Brokerage in Alabama
EBSCO Industries Inc. (EBSCO) has hired insurance veteran Phillip Moultrie as vice president of client services for its insurance brokerage, S.S. Nesbitt (SSN), based in Birmingham, Ala. Moultrie’s immediate focus will be on ensuring that the agency delivers its services …

POSTED AUGUST 24, 2017 5:14 AM
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located in Homestead, Fla. Hurricane Andrew had just barreled through the region, …

POSTED AUGUST 24, 2017 5:00 AM
Employee Embezzlement Schemes Often Carried Out Over Years
Nearly 25 percent of employee thefts involve large-scale losses of more than $1 million and 29 percent are carried out over five or more years. According to a study on embezzlement by specialist insurer Hiscox, high-loss cases often result from …

POSTED AUGUST 24, 2017 5:00 AM
Judge Dismisses Stockholders’ Suit Against Martha Stewart
A Delaware judge has dismissed a class-action lawsuit filed by former stockholders of Martha Stewart Living Omnimedia over the company’s 2015 acquisition by Sequential Brands. The lawsuit said that Stewart leveraged her position as controlling stockholder to secure greater consideration …

POSTED AUGUST 24, 2017 5:00 AM
Texas Gulf Coast Braces for Possible Hurricane Harvey
Harvey, which could strengthen into the first hurricane to strike Texas since 2008, forced workers off Gulf of Mexico platforms, sent cotton rallying and has airlines preparing for flight disruptions. Currently a tropical depression, Harvey was 460 miles (740 kilometers) …

POSTED AUGUST 24, 2017 2:50 AM
Researchers Using Airplanes to Map Earthquake Faults in Oklahoma
Researchers are turning to the sky to help stop earthquakes from rumbling deep beneath the Oklahoma soil. The U.S. Geological Survey in coordination with the Oklahoma Geological Survey and other groups last week began using a modified small airplane to …

POSTED AUGUST 23, 2017 11:46 PM
Illinois Governor Vetoes 1 of 2 Workers’ Comp Bills Opposed by Insurers
Illinois Gov. Bruce Rauner has vetoed a workers’ compensation reform bill that has been strongly opposed by the insurance industry. Rauner on Aug. 18 vetoed HB 2622, which would have created the Illinois Employers Mutual Insurance Co. by allowing the …

POSTED AUGUST 23, 2017 11:40 PM
Appeals Court Rules L.A. Lakers Not Entitled to Coverage in TCPA Suit
The U.S. Ninth Circuit court of Appeals affirmed Wednesday that the Los Angeles Lakers are not entitled to insurance coverage for class action allegations that the team violated the Telephone Consumer Protection Act. During a game the team evidently invited …

POSTED AUGUST 23, 2017 7:12 PM
Florida Domestic Insurer Sawgrass Mutual to ‘Wind Down’ Operations
Just a day after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company has revealed it is under administrative supervision by the Florida Office of Insurance Regulation. According to an amended consent order for administrative supervision dated …

POSTED AUGUST 23, 2017 4:58 PM

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