Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

FNF GETS APPROVAL TO BUY INSURER'S FLOOD POLICIES

Fidelity National Financial Inc. said Wednesday that its property and casualty insurance subsidiary received court approval to purchase all the existing flood insurance policies of Southern Family Insurance Co. through the Department of Financial Services of the State of Florida.

The transaction involves more than 63,000 flood insurance policies originated through a network of independent agents in conjunction with the National Flood Insurance Program. Terms of the deal were not announced.

Fidelity National Property and Casualty Insurance Co. will service these policies through a processing unit located in St. Petersburg.

Mark Basch/The Times-Union

VERIZON WILL OFFER EASIER OUTS FOR CELL CUSTOMERS

Targeting a top gripe by cell phone users and breaking ranks again with its industry, Verizon Wireless plans to prorate the fee it charges subscribers who break a contract so they only pay an amount proportional to the time left on their agreements.

The change in the early termination fee will be implemented this fall for all new customers and any Verizon Wireless subscribers who sign a new contract, the company announced Wednesday in tandem with a speech by CEO Denny Strigl at an industry conference.

The company, owned jointly by Verizon Communications Inc. and Vodafone Group PLC, also said it was addressing another customer frustration by enabling existing subscribers to upgrade to a new handset at the same steep discounts being offered to lure new customers.

U.S. wireless companies, their subscribers trapped by contracts and early termination fees, typically offer much smaller savings, if at all, on upgrades while they're under contract. Verizon's new flexibility will be available to subscribers with calling plans of $50 after 12 months.

Associated Press

ANALYST SAYS APPLE MAY DELAY WIDESCREEN IPOD

Apple Computer Inc. …

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