| Gaylord's theft coverage: $50,000
GAYLORD — The city could be reimbursed up to $50,000 under an insurance policy covering dishonesty or theft by any of its employees, according to a city official. Any embezzled funds exceeding $50,000, however, are not covered by either city or Downtown Development Authority (DDA) insurance policies, say officials.DDA Executive Director Sherrie Burns Schuster, 45, resigned Oct. 23, the same day city officials in a news release announced "improprieties have been discovered in the DDA’s financial records." Schuster had been covered under the city’s insurance policy, according to City Clerk Becky Curtis.DDA board chairman Bob McNamara Sr. said Tuesday Schuster was not covered by any surety bond within the DDA. .
Neumann Homes files for bankruptcy
Warrenville-based Neumann Homes Inc. filed for Chapter 11 bankruptcy protection on Thursday (Nov. 1), the biggest financial collapse in the Chicago area due to the slowdown in housing sales. Neumann, which the week before announced its intention to seek bankruptcy and closed most of its operations, estimated it owes more than $100 million collectively to up to 5,000 creditors. Its filing in U.S. District Court in Chicago also listed assets of more than $100 million. A 2006 Sun-Times ranking showed Neumann was the ninth-largest builder in the Chicago-area. The largest creditor is Residential Funding Corp, which by Neumann's reckoning is owed $75 million for a bank loan. Other significant creditors were owed for surety bonds, title insurance or legal fees. The company's chief executive, Kenneth Neumann, could not be reached for comment.
Data Imaging And Content Management: ImageRight Signs Twelve New Insurance Clients
Recently, twelve new insurance organizations signed contracts with ImageRight, a leading provider of insurance-focused data imaging, content management and workflow solutions. "We are very pleased to have established such important new business relationships in the last two months," said Don Elias, president of ImageRight. "In an industry as paper-intensive as insurance, when you put content management and workflow in place and methodically automate processes relating to core administration functions you improve the fundamental business of insurance and are able to serve customers better." Companies who recently purchased the ImageRight system include: Bedford Underwriters, Ltd. - a managing general agency and wholesale insurance broker specializing in unusual and hard-to-place insurance products and based in Plymouth, Wisconsin.www.bedfordunderwriters.com Casualty & Surety, Inc.
Indictments
Stacey Edge, 43, 151 Bright St. No. 3, theft by deception over $300, notice to appear.Connie Gilleland, 46, 739 Brandy Circle, two counts theft by deception over $300, notice to appear.Keith Lamastus, 35, 5011 Nolan Dam, Mammoth Cave, theft by deception over $300, notice to appear.Stacie Lea, 38, 260 The Trace Circle, Alvaton, theft by deception over $300, notice to appear.Phillip Gerald Parker, 10, 2602 Navajo 921, first-degree promoting contraband, third-degree possession of a controlled substance, possession of drug paraphernalia, possession of marijuana, operating a motor vehicle while under the influence of intoxicants, reckless driving, failure to produce insurance card, license to be in possession, transfer $1,000 surety bond.Eugene Carl Smith, 32, 3088 Old Gallatin Road, Scottsville, second-degree criminal possession of a forged instrument, transfer $150 bond.Christopher L.
ProCentury Corporation Announces $0.04 Per Share Dividend
COLUMBUS, Ohio, Nov. 14, 2007 (PRIME NEWSWIRE) -- ProCentury Corporation (NasdaqGM:PROS - News), a specialty property and casualty insurance holding company, today announced that its Board of Directors has approved a cash dividend of $0.04 per share. The dividend will be payable on December 19, 2007 to stockholders of record on November 28, 2007. About ProCentury Corporation ProCentury Corporation (NasdaqGM:PROS - News) is a specialty property and casualty insurance holding company. Its subsidiary, Century Surety Company, underwrites general liability, commercial property, and multi-peril insurance for small and mid-sized businesses. Century Surety Company primarily writes excess and surplus lines insurance and markets its products through a select network of general agents. The ProCentury Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3677 .
ProCentury Corporation Management Scheduled to Present At the 2007 Sanders Morris Harris Investor Growth Conference
COLUMBUS, Ohio, Nov. 7, 2007 (PRIME NEWSWIRE) -- ProCentury Corporation (Nasdaq:PROS) today announced that its management team is scheduled to present at the Sanders Morris Harris Investor Growth Conference in New York City on Thursday, November 8, 2007 at 10:30 a.m. EST. A live audio webcast of the presentation will be accessible through ProCentury's website, at www.procentury.com in the presentations section. About ProCentury Corporation ProCentury Corporation (Nasdaq:PROS) is a specialty property and casualty insurance holding company. Its subsidiary, Century Surety Company, underwrites property and casualty insurance for small- and mid-sized businesses. Century Surety Company primarily writes excess and surplus lines insurance and markets its products through a select network of general agents.
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