Blog

OLDWICK, N.J.–(BUSINESS WIRE)–As reform measures across the United States significantly diminish or eliminate the need for defendants to post cash bail, the business currently handled by bail bonds agents and insurance specialists may cease to exist, according to a new A.M. Best special report. The Best’s Market Segment Report, titled, “Was 2017 the Tipping Point for the Bail Bonds...

At the beginning of April, Kentucky governor signed a bill that amends portions of chapters of the Kentucky Revised Statutes (KRS) that relate to mining. The 40-page bill introduces numerous new provisions with regards to different types of mining operations and procedures in the state. Among these are also a handful of requirements related to applicants and holders of...

Bermudian property and casualty (P/C) re/insurer Sompo International Holdings (SI) has acquired Lexon Surety Group (Lexon), the second largest independent surety insurer in the United States. Lexon is comprised of Lexon Insurance Company, Bond Safeguard Insurance Company and Fortress National Group. The acquisition is expected to positively impact the subsidiaries’ financial strength ratings. Lexon staff and office locations are...

It’s been a rollercoaster. But the ride appears to be over. In United Riggers & Erectors, Inc. v. Coast Iron & Steel Co., Case No. S231549 (May 14, 2018), the California Supreme Court addressed whether a direct contractor can withhold payment from a subcontractor based on the “good faith dispute” exception of the state’s prompt payment laws if the...

SAN JUAN – Two more lawsuits have been filed in the Title III bankruptcy case against the Puerto Rico Highways & Transportation Authority (PRHTA) and the Puerto Rico Electric Power Authority (Prepa). The first was filed Wednesday by insurers Western Surety Co. and Continental Casualty Co. against the PRHTA, seeking payment of bonds at the request of Betteroads Asphalt...

At the tail-end of the 2018 legislative session, the Maryland General Assembly passed Senate Bill 853, making construction general contractors jointly and severally liable for the failure of their subcontractors to pay their employees in compliance with Maryland’s wage and hour laws. This new law will become effective October 1, 2018. California recently passed a similar measure, AB 1701,...

BILLINGS, MONT. Federal officials are being asked to investigate whether a financially-troubled coal company has posted sufficient bonds to cover future reclamation work at its mines in the U.S. and Canada. The Western Organization of Resource Councils, a Montana-based conservation group, said Wednesday that it was concerned that a bankruptcy by Westmoreland Coal Company could leave taxpayers to cover...

(Reuters) – Activist investor Carl Icahn filed a lawsuit on Monday against AmTrust Financial Services Inc (AFSI.O) and the family that controls the company, accusing them of trying to take the insurer private at the wrong time and at the wrong price. The lawsuit filed in the Court of Delaware accuses Karfunkel-Zyskind family of engaging in a transaction which...

ORLANDO — A Florida contractor was granted its request against a former partner, according to a May 7 opinion of the U.S. District Court in the Middle District of Florida Orlando Division. Defendant Archer Western Contractors, LLC was hired by the Florida Department of Transportation to help with the construction of the Central Florida Commuter Rail Transit Station Project...

KEYSTONE HEIGHTS – After being awarded over $2 million in damages, the Keystone Heights Airpark can start repairing problems that started after the 2008 construction of two new hangars. About 10 years ago, in October 2008, the small airport entered into a contract with Pipeline Contractors Inc., a Starke-based company that was awarded the bid for a hangar construction...