June 28, 1992 |
The American Institute for Chartered Property Casualty Underwriters (AICPCU), headquartered in Malvern, celebrated its 50th anniversary this month. The institute, an educational organization born out of an unusual partnership between the academic world and the insurance business, was founded by academicians from the insurance department of the Wharton School of the University of Pennsylvania. Between the first and second World Wars, Wharton professors urged leaders of the insurance business to adopt professional standards based on education, experience and ethics.
March 7, 1989 |
Jockey Octavio Aviles was riding Charming Dac on the first turn of the mile race at Garden State Park last month when the horse's heels clipped another horse and catapulted Aviles headfirst onto the track. Aviles, 33, of Mexico City, was hospitalized in serious condition with a fractured skull, thereby prompting a controversy in racing circles - a controversy that wound up in federal court in Camden yesterday. Jockeys had threatened a walkout at Garden State, effective yesterday, if horse owners could not prove that they had filed the necessary papers for workers' compensation insurance.
February 4, 1987 |
They've already started to crunch the numbers in a feasibility study that will determine whether 11 municipalities in central Burlington County should create a self-insurance fund. When the study is completed this month, Burlington City, Cinnaminson, Delanco, Delran, Eastampton, Edgewater Park, Florence, Hainesport, Medford Lakes, Mount Holly and Pemberton Township will have to decide if the numbers show enough saving to make forming an insurance fund worthwhile. "Everybody is saying, yeah, I'm interested, but what's it going to cost me?
May 16, 1991 |
The Delaware Valley Workmans' Compensation Cooperative, a 30-member coalition composed primarily of Montgomery and Bucks County municipalities, may be in its last year of existence. The cooperation would remain, but the name - and the concept - may change in an effort to slash workers' compensation premiums by a total of at least $600,000 in 1992. Richard Lee, cooperative administrator, said that if all 30 members take part in a switch to a self-insurance pool, they can expect to shave 15 percent off the $4 million in premiums cooperative members paid in 1991.
February 10, 1986 |
Nearly 150 Washington Township teenagers showed up at a dance Saturday night sponsored by Middle School students to raise money for a school drug counselor who was fired last month - but they were turned away at the door. The affair, which had been scheduled for 7 p.m., was canceled earlier in the day, unbeknown to most of the students, because of a dispute over insurance between the owner of the hall, George Maloney of Turnersville, and the leasors of the building, the Italian-American Club.
August 14, 1986 |
The fare increases proposed by Philadelphia's beleaguered Yellow Cab Co. would raise only about 41 percent of the money the company says is needed to fund a self-insurance program. John S. Estey, an attorney for Yellow Cab, said yesterday that the remaining money - almost $2 million a year - would come from the company's current operating revenues. The company, which has filed for bankruptcy-court protection, has lost money in four of the last five years. Yellow Cab accounts for about half of Philadelphia's 1,200 cabs and is facing the loss of its insurance on Oct. 1. Estey said the company can not get insurance from any other source and will go out of business if the state does not approve its plan to operate a self-insurance program.
June 24, 1986 |
A federal judge has been asked by insurance underwriters to void a $1.6 million insurance policy the Flyers had on goaltender Pelle Lindbergh, who died last year after his car hit a wall in New Jersey. Underwriters at Lloyd's of London, in a suit filed yesterday, contend the policy contained an exclusion barring coverage for losses caused by Lindbergh's "own criminal or felonious act. " "Pelle Lindbergh's death was caused or contributed to by his criminal acts of driving under the influence of alcohol and exceeding the legal (speed)
March 12, 1992 |
Unprotected by tiny helmets and shoulder pads, Deptford Midget Football is getting banged up in a rough game of Catch-22 over a $10 million insurance policy. The parents who run the township midget football league are planning a carnival in mid-April to raise money to pay next year's football bills. They want to use the township's most central location, which is Deptford's Central Elementary School field, just behind the township building on Cooper Street and Delsea Drive. However, school-district officials said a carnival on school property presents high accident possibilities, and they are requiring the midget football league to carry at least $10 million in insurance for the six-day event.
June 16, 1988 |
In a step toward what they called a "black common market," leaders of the National Conference of Black Mayors proposed yesterday to create their own municipal insurance company. Former Gary, Ind., Mayor Richard G. Hatcher, the chief advocate of the move, said more black money should stay in black hands. That, he said, should include some of the $1 billion spent yearly for insurance by the 300 communities headed by black mayors. Hatcher said he was sure that insurance companies reinvest some of the money they get in South Africa and in other ways repugnant to blacks.
October 15, 1987 |
For six months last year, Mark Schwartz and a dozen other men in various stages of middle age played pick-up basketball games every Monday night at Rydal Elementary School in Abington. The group, called the Over-The-Hill Basketball Club, used the court for free. This year, the club says it cannot afford to use the court because of an insurance requirement imposed by the Abington school board. A new board policy requires the club to secure a $500,000 single-limit insurance policy for liability resulting from bodily injury or property damage before it can play at the school.