Newsgroups: biz.americast.samples
From: usa-post@AmeriCast.Com
Organization: American Cybercasting
Subject: Sample USA Today insur Fri, Aug 28 1992
Date: Fri, 28 Aug 92 05:22:47 EDT

This is an actual portion of the electronic edition of the USA Today, as
distributed by American Cybercasting.  For more information, send e-mail
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08-28 0000
DECISIONLINE: Insurance
USA TODAY Update
Aug. 28-30, 1992
Source: USA TODAY:Gannett National Information Network
    
DAMAGE ESTIMATES VARY:
   As Hurricane Andrew progressed across south Florida Monday, 
damage estimates ranged from as low as $3 billion to as high as 
$15 billion to $20 billion. But the first reliable estimates 
aren't likely to show up until next week when officials from the 
respected Property Claims Division of the American Insurance 
Services Group finish sorting through the devastation in Florida 
and Louisiana.
(For more, see special Andrew package below.)
    
BUDGET PLAN IN WORKS:
   California lawmakers are working on a compromise to solve the 
state's budget fiasco, now in its 59th day. With the legislative 
session due to end Monday, both Senate Republican leader Ken Maddy 
and President Pro Tem David Roberti, a Democrat, are working on a 
secret plan that could come up for a Senate vote Friday. Also, $60 
million in IOUs are scheduled to go out to health-care providers.
    
TAX RELIEF:
   Louisiana and Florida residents who live in one of the 
federally declared disaster areas caused by Hurricane Andrew and 
can deduct their uninsured casualty loss by filing an amended 1991 
federal tax return. Filers can get a refund now, instead of 
waiting until next year to file a 1992 return. File a Form 1040X, 
and the Internal Revenue Service will send a refund check in four 
to eight weeks.
    
UNINSURED LOSSES DEDUCTIBLE:
   Florida and Louisiana residents can deduct uninsured casualty 
losses from Hurricane Andrew with an amended 1991 federal tax 
return. But losses can only be claimed to the extent they exceed 
10% of adjusted gross income. If household income is $35,000, the 
first $3,500 of the uninsured loss isn't deductible. For more 
information, contact the IRS at 1-800-829-1040.
    
RECOVERED GOLD MAY BE SHARED:
   Insurers that paid off the claims from an 1857 shipwreck may be 
entitled to part of the $1 billion in gold salvaged from the 
vessel, a three-judge appeals court panel has ruled, forcing a 
U.S. District Court in Norfolk to reconsider the case. 
Columbus-American Discovery Group of Ohio is salvaging the 
shipwreck of the S.S. Central American in the Atlantic Ocean.
    
JOBLESS CLAIMS FALL:
   The number of applications for unemployment insurance in mid 
August fell to its lowest level since October 1990, the Labor 
Department said Thursday. Weekly claims dipped to 382,000 the week 
ended Aug. 15 - the first time claims have been below 400,000 
since July 1991. Claims were down from 474,000 the week ended Aug. 
8.
    
GROUP ASKS FOR GM RECALL:
   The case of a Texan who died when the gas tank of his Chevrolet 
pickup exploded during an auto accident may open General Motors to 
charges it about the defects. The Center for Auto Safety, a 
Washington consumer group, claiming defective fuel tank design, 
has asked the National Highway Traffic Safety Administration to 
recall Chevy and GMC pickup trucks from model years 1973-87.
    
METLIFE NEGOTIATES CONTRACT:
   Metropolitan Life Insurance Co. Thursday announced that is 
negotiating a contract with PCS Health Systems Inc., a manager of 
drug benefit programs. PCS Health Systems would provide 
operational program management support for the MediMET 
prescription drug program and drug claim processing. MetLife will 
continue managing the the MediMET pharmacy network.
    
SPECIAL PACKAGE ON ANDREW:
    
ANDREW'S TOLL YET UNKNOWN:
   Damage estimates from Hurricane Andrew are just beginning, says 
 says Peg Malloy, spokeswoman for the Federal Emergency Management 
Agency. "We have been screaming at everyone not to rely on damage 
estimates yet," she says. The Florida Insurance News Service and 
the Insurance Information Institute will schedule a news 
conference for release of a damage estimate, probably Monday in 
Miami.
    
AGENTS REQUEST HELP:
   To help insurers with claims, Allstate's Leslie Chapman, noting 
that most street signs in the worst areas are down, is asking that 
victims of Andrew to paint their street name and address in a 
visible spot on their structure. They should add the name of their 
insurer and policy number, if posible.
    
TROOPS TO BE SENT:
   Responding to complaints of insufficient government help, 
President Bush is boosting disaster aid and sending new federal 
troops to Florida to help vicitms of Andrew. Between 2,000 and 
5,000 troops will be on scene by this weekend. Logistical experts 
were en route Thursday night to decide where to send emergency 
relief. Infantry soldiers will be sent to help with construction.
(End of package.)
    
Insurance Editor: Christopher Goldthwaite. (1-919-855-3491) Making 
copies of USA TODAY Update (Copyright, 1992) for further 
distribution violates federal law.
    

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