March 14, 2004 |
U.S. lenders that provide money for commercial real estate and apartment buildings want Congress to reenact a 2002 measure that aimed to increase the availability of terrorism insurance, according to a survey by the Mortgage Bankers Assn. The 29 of 40 largest commercial and multifamily mortgage banking firms that responded to the survey said failure to renew the Terrorism Risk Insurance Act of 2002, which expires Dec. 31, 2005, would hurt the real estate market.
June 9, 2006 |
A Nasdaq Stock Market Inc. subsidiary is warning public companies that probes into possible manipulation of executive stock options might push up the cost of insuring their executives and board members against lawsuits. Carpenter Moore, a division of Nasdaq Insurance Agency that acts as an insurance broker for companies on the exchange, said in an undated memorandum that some insurers were already seeking to limit their liability under so-called directors' and officers' coverage.
May 2, 2004 |
Many Southern California homeowners who thought they were fully insured against natural disasters have discovered after October's wildfires that their policies left them shortchanged -- in some cases, hundreds of thousands of dollars shy of what they need to rebuild.
CALIFORNIA | LOCAL
February 24, 2012 |
Survivors of Armenian genocide victims can't sue German insurance companies for failing to pay claims because only the federal government can bring foreign entities to court, the U.S. 9th Circuit Court of Appeals ruled Thursday. The 11-judge panel dismissed the case brought nearly a decade ago by Southern California Armenians, probably putting an end to their efforts to compel the German companies to pay survivors' benefits on policies sold to victims between 1875 and 1923. A 2000 revision to California's Civil Code allowed California courts to consider the Armenians' insurance claims beyond the deadline for petitioning for payouts by subsidiaries of the German insurance company now known as Munich Re. "The Constitution gives the federal government the exclusive authority to administer foreign affairs," the appeals court said in a unanimous ruling.
April 28, 2004 |
The International Olympic Committee has taken out insurance for the first time against cancellation of the Games because of war, terrorism or a natural disaster such as an earthquake, officials said Tuesday. The IOC said it acquired a $170-million policy for the 2004 Summer Games, which begin Aug. 13 in Athens and have been dogged by construction delays and security concerns. Associated Press reported that the policy cost $6.8 million.
November 8, 2007 |
Louisiana Atty. Gen. Charles Foti sued the state's largest property insurers Wednesday, accusing them of conspiring to limit payments to policyholders after hurricanes Katrina and Rita and engaging in an elaborate price-fixing scheme. Foti's wide-ranging lawsuit, filed in a state court in New Orleans, alleges that Allstate Insurance Co., State Farm Fire and Casualty Co. and other insurers worked together to manipulate damage estimates and low-ball claims payments after the 2005 hurricanes.
April 28, 2007
Re "Democrats go their own way on healthcare," April 22 In the plan proposed by Assembly Speaker Fabian Nunez (D-Los Angeles), the working uninsured -- by far the majority of California uninsured -- would be required to buy private health insurance if their employers opted into the state plan. The employer's share of the premium cost would be limited by law; employees would have to pay whatever the insurer demanded. Both Gov. Arnold Schwarzenegger and Nunez would require us to buy private health insurance whether we could afford it or not. We would be forced to buy insurance with the cheapest premiums possible.
September 6, 1990
Bondholders of bankrupt American Continental Corp. filed a class-action lawsuit Wednesday to seek a court order enforcing insurance policies that 21 carriers provided for the directors and officers of the company and its primary unit, the failed Lincoln Savings & Loan in Irvine. The bondholders already have filed more than 15 lawsuits against the company and thrift seeking the return of about $200 million in investments.
January 24, 1993
A recent Los Angeles Times article, "Big Insurers Cast Wary Eye on Clinton's Health Plans" (Dec. 7), erroneously reported that Phoenix Home Life does not support President Bill Clinton's health care reform proposals. In fact, Phoenix Home Life has a significant area of agreement with many of the views expressed by the President. In working out the details necessary to achieve true health care reform, we need to be mindful of the impact of each and every proposal on the ultimate users of the system, the consumers.
May 13, 1992 |
If you're shopping for renter's insurance, be sure to: 1. Make a detailed inventory of your household goods and personal possessions, estimating the value of each. Note prices and dates of purchase where possible. Keep a copy of your list, including store receipts and photographs of items, in a safe place away from home. 2. Obtain quotes from several insurers, comparing costs, quality and coverage, as premiums vary widely. 3.