Mark Henricks
The Penn State child sexual abuse scandal is prompting nonprofit organizations across the country to question whether they’ve got adequate insurance to cope with such cases.
In the Penn State case, former assistant football coach Jerry Sandusky is accused of molesting 10 boys. The crimes allegedly happened during and after Sandusky’s tenure at Penn State and while he was involved in a children’s charity that he founded.
The limits of general liability insurance
When it comes to child sexual abuse, nonprofits often have far less legal protection than they think, says Gregory Williams, senior product manager at GuideOne Insurance, an Iowa-based issuer of child sexual abuse insurance policies covering 29,000 churches and religious institutions. Many
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While you may view this season as the perfect time of year for scoring deals, crooks see it as the perfect time of year for crime. Large crowds and rushed shoppers can make for easy targets. Distracted shoppers are at an increased risk for vehicle break-ins, carjacking and other auto-related crimes according to HEAT, Help Eliminate Auto Thefts.
Law enforcement agencies typically report a larger number of break-ins during the holiday season which can taint this typically cheerful season. “The holidays are a joyous time of year filled with family gatherings and gift giving,” said Terri Miller, director of H.E.A.T. in a news release. “Bu
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With the holiday season in full swing and seasonal soirees scheduled, insurance industry experts are warning anyone who is planning a private party about the risks involved in serving alcohol to guests, particularly in states such as New Hampshire.
All but two states—Florida and Nevada—have social host liability, or “dram shop” laws, under which licensees and employees of bars, restaurants and other establishments may be held civilly and sometimes criminally liable if an overserved guest winds up hurting someone in a drunken driving crash or other incident.
The laws vary widely between states, but they all offer an injured person some method of suing the person who served alcohol to whoever caused the injury, according to the Insurance Information Institute (III). And in
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LexisNexis Risk Solutions and Open GI have signed a long-term strategic agreement to implement real-time access to third party data by providing data to insurers at the time of quote and sale to improve underwriting and pricing decisions.
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California Hospitals Ask Courts To Halt Cuts
Some California hospitals would take a significant and long-lasting hit from Medi-Cal reimbursement cuts recently approved by CMS, according to the California Hospital Association, which this week filed a petition in federal court to put a temporary halt to those reductions. CHA’s lawsuit and injunction request are separate from the court action taken earlier this week by the California Medical Association and other provider organizations (Gorn, 11/23).
Injunction Sought Against Calif. Medicaid Rate Cuts
The latest complaint claims rate cuts submitted by the California Department of Health Care Services and approved by HHS failed to consider provider costs or whether payments were consistent with efficiency, economy and quality of care, as required.
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Everest Re and Lloyd’s names join China Re in reinsuring Syndicate 2003
Catlin has attracted further third-party capital from Everest Re and Lloyd’s names, chief executive Stephen Catlin revealed yesterday.
The new capital providers join China Re, which has agreed to put up £50m to capitalise a new special-purpose syndicate, launching in 2012.
The Lloyd’s names will provide £60m capital on a two-year rolling contract, while Everest Re will provide £26.9m. Insurance Times understands two further special-purpose syndicates will be established to receive the capital from these two new sources.
Catlin plans to announce the final details of the new deals in a week’s time, Stephen Catlin told analysts at yesterday’s investor day.
The new deals will bring the total third-party capital available to Catlin in 2012 to £137m. The three new
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