Insurer Sues West Virginia Gov.’s Company for Failure to Pay Deductibles May 10, 2021
An insurance company alleges in a federal lawsuit that a company run by West Virginia Gov. Jim Justice and his adult children owes $166,000 for workers’ compensation and employers’ liability coverage claims.
Starr Indemnity & Liability Company said in the suit filed Tuesday that Justice Family Group LLC failed and refused to pay deductibles for policies that covered its liabilities between June 2018 and June 2020, the Charleston Gazette-Mail reports.
The lawsuit says the compensation and liability policies have per accident deductibles of $1 million when an injury happens unintentionally and per employee deductibles of $1 million when an injury occurs due to disease, according to the newspaper.
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Workers’ Comp Insurance Rates Continue to Drop in Louisiana March 11, 2021
Workers’ compensation insurance rates will continue to decrease in Louisiana with a new rate reduction beginning in May, the insurance department reported.
Louisiana Insurance Commissioner Jim Donelon has approved a loss cost filing by the National Council on Compensation Insurance (NCCI) that reduces workers’ compensation rates by 4.1%, effective May 1, 2021.
With the current decrease, rates will have declined in seven of the last eight years, according to the Louisiana Department of Insurance. Over the last five years, rates have cumulatively dropped by 25%.
Last year, NCCI’s approved annual filing reduced rates by 8.4%, effective May 1, 2020.
Federal Court in Georgia Applies
Hoover Rule Finding that Insurers Who Sent Denial Letters Waived Right to Assert Other Coverage Defenses Later.
Eight years ago in
Hoover v. Maxum Indemnity Co., 730 S.E.2d 413 (Ga. 2012), Georgia’s Supreme Court cautioned insurers against the common practice of denying coverage on one ground at the outset of a claim’s investigation, and later amending or supplementing that coverage denial to assert new coverage defenses if the initial reasons for denying coverage fail. Under
Hoover, when an insurer responds to a Georgia policyholder’s claim notification, it has three options: (1) confirm coverage for the claim; (2) defend the claim under a reservation of rights to deny coverage later after a claim investigation; or (3) deny the claim outright.
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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the insurance subsidiaries of Starr International Company, Inc. (SICO) (Switzerland), a private investment holding company. These Credit Rating (rating) actions apply to the members of Starr International Group (SIG) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda). The outlook of these ratings is stable.
The ratings of the members of SIG reflect their balance sheet strength, which AM Best categorizes as strongest, as well as their marginal operating performance, favorable business profile and appropriate enterprise risk management (ERM). Members of the SIG include Starr Indemnity & Liability Company, Starr Surplus Lines Insurance Company and Starr Specialty Insurance Company. All companies are domiciled in Dallas, TX.