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Scheinuk joins bank

BancorpSouth Insurance Services has added Edward B. Scheinuk, CPCU, and his team to the agency. Scheinuk recently served as President of Eustis Risk Management Resources in Metairie, La. This is the second Metairie BancorpSouth office. Scheinuk has 35 years of insurance industry experience. He provides risk management and insurance advice to regional, national and international commercial accounts. Additionally, he provides ...

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State’s highest court reverses decision in Windpool case

By JACK WEATHERLY The Mississippi Supreme Court has reversed decisions by the state insurance commissioner and Hinds County Chancery Court and ordered a reconsideration of Arrowood Indemnity Co.’s suit against the Mississippi Windstorm Underwriting Association. The company said it made an overpayment of nearly $5 million because it was misled by the association, known as the Windpool. The Windpool, composed ...

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2 hospitals to sue state over Medicaid reimbursements

PASGACOULA — Two health care systems plan to sue the Mississippi Division of Medicaid over what they describe as a flaw in the state’s funding formula for Medicaid. In a news release Wednesday, Memorial Hospital at Gulfport and Singing River Health System assert the payment formula used to reimburse community hospitals for care provided to the uninsured and Medicaid beneficiaries ...

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Not all businesses aware of new OSHA requirements

By BECKY GILLETTE Even with penalties of up to $7,000 for failure to report serious workplace injuries, a report by OSHA estimates that only about 50 percent of severe injuries in the U.S. are being reported within the required period. The revised rule that went into effect in January 2015 didn’t change previous requirements to report all work-related fatalities within ...

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American Staffing Association forms state council

By LISA MONTI Staffing firms around Mississippi employed an average of 26,646 temporary and contract workers per week in 2015, and those workers earned an average of $30,909. During 2013, the state’s staffing firms had total sales of $1 billion. Now a new staffing and recruiting organization has been formed in the state that aims to inform Mississippians about job opportunities ...

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TeleHealthOne bringing its services to fred’s Pharmacy stores

Staff Report Fred’s Pharmacy stores across Mississippi are adding video-based health care to their offerings. TeleHealthOne, a less than 2-year-old Canton provider of telemedicine services, has teamed with fred’s Inc. to extend the company’s video health services to customers of the pharmacies. Private space will be set aside in the stores for people with minor ailments to receive a video ...

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COMMERCIAL FINANCE 701: Payment and performance bonds in construction projects

Construction lenders on large commercial construction loans customarily require payment and performance bonds.  At the loan commitment letter stage, this condition rarely concerns a borrower.  Later, however, when the requirement materializes into a line item in the contractor’s budget, the borrower might have second thoughts.  We attempt to define and appraise the payment and performance bond (P&P Bond). Let’s assume ...

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Health insurance exchange coverage to thin out for 2017

By JACK WEATHERLY Sixty-six of Mississippi’s 82 counties will have only one health insurer participating in the Federal Insurance Exchange next year because of the pullout of UnitedHealthcare, according to the Mississippi Insurance Department. UnitedHealthcare made a bold commitment for 2016 with coverage offered in all 82 counties,giving all residents at least two choices of insurers, and residents in 32 ...

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Katrina whistleblower suit to be heard by U.S. Supreme Court

By JACK WEATHERLY An appeal of a whistleblower suit ruling against State Farm Fire and Casualty Insurance Co. over wind and flood damage linked to Hurricane Katrina will be heard, the U.S. Supreme Court said Tuesday. The 5th  U.S. District Court of Appeals in New Orleans on July 13 reversed the U.S. District Court in Gulfport ruling denying the plaintiffs ...

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US stocks skid on weak health care results; Europe slumps

U.S. stocks are slipping Friday morning, while markets in Europe and Asia take hefty losses. Health care companies are falling after some weak first-quarter reports and technology companies continue to trade lower after a late plunge a day earlier. KEEPING SCORE: The Dow Jones industrial average dropped 104 points, or 0.6 percent, to 17,726 as of 10:12 a.m. Eastern time. ...

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