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Company News
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New York Governor Patterson Signs Law Reversing New York's
Edwards Angell reports that Gov. Paterson has signed the "late notice" prejudice law and it is now effective. This is a big change in New York law and we can expect that there will be litigation very soon to help resolve the question of what qualifies as "material" prejudice such that it would allow an insurer to deny coverage for a claim.
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When Is a Flood a Flood?
Exactly what does it take for water damage to be considered a flood in the terminology of the National Flood Insurance Program (NFIP)? The answer might surprise you.
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Corporate Profits: Spend Them Wisely
Corporate Profits have been on a tear. Earnings for the 900 companies on BusinessWeek's Corporate Scoreboard rose 25% in the fourth quarter of 2004, far surpassing earlier estimates. Last year was the first time profits rose above their boomtime peak in 2000. Companies are flush with nearly $1 trillion in cash, and they are itching to put it to work.
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High-Deductible Health Plans May Have Pitfalls
High-deductible health plans can lead to poorer quality health care and more, not fewer, financial problems for patients, according to a new study. The Republican Party has touted health care savings accounts, or HSAs, since last year as a market-based solution to clamp down on the soaring cost of health care. The plans involve a high-deductible plan, usually $1,000 per person, coupled with a tax-free savings account for health expenses.
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