Figures
$17.5 million
The total in refunds that Maryland Insurance Commissioner R. Steven Orr ordered Allstate Insurance to send to 20,571 auto policyholders he says were improperly charged. This restitution is in addition to a $100,000 administrative penalty. Allstate had sent premium increase notices that did not comply with the law requiring that any notice include a description of the accident or violation which is the basis for the increase.
4.2
The magnitude of the earthquake that surprised residents of scenic Bar Harbor, Maine, on Sept. 22, according to John Ebel, director of the Weston Observatory at Boston College, which monitors seismic activity in New England. Historically, the New England region averages a magnitude 5 or stronger earthquake once every 50 years. The quake in Bar Harbor caused boulders to fall from ledges onto Acadia National Park’s loop road, but did not cause any structural damage.
8
The number of individuals, including a New York State corrections officer, arrested for workers’ compensation fraud against the New York State Insurance Fund, as reported by the NYSIF. Suspects accounted for more than $284,000 in actual fraud and more than $1 million in reserves. NYSIF officials said the arrests came in a sweep conducted by the Westchester and Putnam District Attorneys’ Offices. Warrants were also issued in Mexico and Puerto Rico.
11.09
The date for a public hearing called by Connecticut Insurance Commissioner Susan Cogswell into workers’ compensation loss costs. The Nov. 9 hearing in Hartford will review a filing by the National Council on Compensation Insurance, which has recommended an average decrease of -0.9 percent for pure premium loss costs and an average decrease of -0.1 percent in assigned risk rates. NCCI seeks a Jan. 1, 2007 effective date.
$8 million
New York’s grant monies made available for property owners in downtown “Main Street” areas damaged by late June floods. The New York Main Street Flood Relief Program is targeted to owners of mixed-use or commercial buildings located in a downtown area that experienced substantial uncompensated flood damage. The program is being offered in 13 counties: Broome, Chenango, Cortland, Delaware, Herkimer, Montgomery, Oneida, Orange, Otsego, Schoharie, Sullivan, Tioga and Ulster. Before receiving money, applicants must prove that monies from flood insurance and any other aid have already been pursued. Applications can be obtained by e-mailing:FloodRelief@communityp.com.