Daily Headlines: Friday, December 31, 2010

Contact us | Subscribe | Send to a Friend

December 31, 2010 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National 2010 Was Year of 20 Million Recalls for Car Makers Automakers recalled about 20 million vehicles in 2010, led by high-profile recalls by Toyota that prompted new scrutiny of the auto... Obesity Increases the Risk of Disabling Workplace Injuries Recent research confirms anecdotal data that work-related injuries are far more costly if an injured worker is obese. In fact, a claim with... Test Your 2010 Insurance News IQ: 25 Questions Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page--... Ratings Recap: Meadowbrook, C.P.A. A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A-' (Excellent) and issuer credit ratings (ICR) of "a-" of Meadowbrook... Miller, Shoemaker Join InVEST Board InVEST, the insurance industry program that brings insurance education to classrooms, has appointed Peter Miller and Loren P. Shoemaker to... Top Brokers, Munich Re Pool Efforts to Expand Insurance for Oil Drilling The world's top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling... More National News East Six Keys to Harleysville's Turnaround Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year... Liberty Mutual Paying $7.5M to Settle Bid-Rigging Charges Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered... Report: Massachusetts Blast Not the Fault of Gas Company State fire investigators have concluded that a fatal explosion at a condominium project last summer was not the result of the delivery of... Maine Governor Seeks Disaster Assessment from Storm Maine Gov. John Baldacci is requesting a damage assessment for the torrential rainstorm that deluged eastern Maine earlier this month. The... More East News Midwest Steak n Shake Increases Its Bid for Fremont Michigan InsuraCorp Texas-based Biglari Holdings Inc., parent company of the Steak n Shake restaurants, has increased its proposal to acquire 100 percent of the... Guggenheim to Reinsure Standard Life of Indiana in Reorganization Indiana Insurance Commissioner Stephen W. Robertson announced that Guggenheim Life and Annuity Co. will reinsure policies originally issued... Indiana Gov., Lawmakers Eyeing Bank Insurance Fund as Revenue Source Gov. Mitch Daniels and Indiana lawmakers preparing to craft the state's next two-year budget are eyeing an obscure bank insurance fund as a... More Midwest News Southeast Inspectors Find 2 Tennessee Dams in Need of Repair State inspectors have found two privately owned hazardous dams in Tennessee that are in need of immediate repair, including one that the... Clearwater Police Adopt License Plate Screening Cameras A Tampa Bay-area police department is the latest to buy into new technology that uses cameras to scan license plates and checks the numbers... North Carolina Jeweler Loses Bet Against a White Christmas A North Carolina jewelry store owner made a $400,000 bet against a white Christmas -- and lost. Alan Perry, owner of Perry's Emporium in... South Carolina Highway Deaths Doubled Over Christmas Holiday South Carolina authorities say winter weather contributed to twice as many deaths on the state's roadways over Christmas weekend this... Poisson to Lead New Atlanta Office for ISU Agency Network The ISU Agency Network has added a Southeast regional office in Atlanta. The office will be lead by Gary Poisson, who will manage the... More Southeast News Texas / South Central Federal Audit Rips Spending for Texas Hurricane Cleanup A scathing audit by the federal Department of Homeland Security questions whether some $45 million in public money was properly spent to... Texas AG Recovers $65M from Pharmaceutical Company Mylan Laboratories Inc. has agreed to pay $65 million to state, federal authorities as a result of an agreement with Texas Attorney General... More Texas / South Central News West Idaho Workers' Comp Insurance Rates To Increase 3.7% Idaho workers' compensation insurance rates will be increasing an average of 3.7 percent in 2011, according to the state Department of... Calif. Regulator Urges Gov.-Elect Brown to Preserve Workers' Comp Reforms Calif. Insurance Commissioner Steve Poizner announced he has sent a letter to Gov.-Elect Jerry Brown to urge him to preserve the workers'... More West News International 2011 Outlook: Too Much Capacity + Stagnant Demand = a Soft Market A quick, and as yet incomplete, survey of re/insurance industry leaders indicates that the main concern they will have to deal with in the... Willis Re: Overcapacity Keeps Renewal Rates in Reinsurance Down "Overcapitalization in the reinsurance market continues to gradually push rates downwards with price reductions at the January 1, 2011... U.S. Analyst: China May Be 'Likely Bright Spot' in Asia Climate Action The outcome of U.N. climate talks in Mexico this month should boost steps in Asia to curb greenhouse gas emissions, with China a likely... Best Affirms Mitsui Sumitomo Insurance 'A+ Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and the issuer credit rating (ICR) of "aa" of Mitsui... Best Assigns 'A' Rating to Swiss-based Catlin Re A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of 'A' (Excellent) and an issuer credit rating... More International News Insurance Journal Blogs The close of 2010 Merry Christmas to all of you. I hope you are blessedwith good health, happiness and the spirit of giving in 2011. David Connolly More News Join the Insurance Journal Network Insurance Journal TV Brand Camp Explores New Ways to Connect with Customers and Peers Take a bunch of insurance professionals, put them together a room to study marketing... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Farmers E & O vs. UFAA Posted: Fri Dec 31 -- Something FIG agents should consider- Recently I was talking to a FIG agent that is involved in an E&O claim. The claim is bogus but still... sacman Farmers Insurance Posted: Fri Dec 31 -- "It depends on what state you are in. Seems like they want to lose the captive agents in some states but not in others.... salescount Farmers Refuses to Pay Botched Auto Repair Posted: Thu Dec 30 -- Mica, I agree that it is an unfortunate situation that the agent referred you to the shop, I'm just not sure there is any liability in doing... sacman Co-signer for Auto Loan Posted: Thu Dec 30 -- Forum Reader is exactly right, but the origianl question states that the father is a registered owner. If the father is only a co-BORROWER... sacman CPCU 510 woes Posted: Wed Dec 29 -- I just am looking to sign up for a 510 test in January or February of 2011. I see they changed the CPCU 510 course with the CPCU 500 course.... tbob2985 Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) December 20, 2010 Download Full Issue More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Commercial Lines Customer Service Representative Account Manager - Palmer, AK Commercial Lines Account Manager Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2010 by Wells Publishing, Inc.

Daily Headlines: Thursday, December 30, 2010

Contact us | Subscribe | Send to a Friend

December 30, 2010 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National BP's Gulf Spill Costs Look Manageable 8 Months Later As the Gulf oil spill gushed out of control, BP's financial liabilities seemed big enough to sink the company. No more. Cleanup, government... How to Fix Nation's Flood Insurance Program The Federal Emergency Management Agency (FEMA) is seeking a top-to-bottom review of the efforts to reform the nation's flood insurance... Reinsurance Renewal Rates On the Decline, Reports Claim Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come,... Report: Some Insurers 'Low-Balling' Auto Insurance Claims for Bodily Injury Some insurance companies that use computerized systems to process their claims are making unfair, "low-ball" claims offers to people injured... Top 5 Things Affecting Excess & Surplus Market in 2011 It has been a challenging few years for those in the excess and surplus (E&S) lines insurance market. An endless soft market, extreme... Top Brokers, Munich Re Pool Efforts to Expand Insurance for Oil Drilling The world's top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling... More National News East Federal Judge Tosses Pennsylvania Bar Patron's Shooting Lawsuit A federal judge in Pittsburgh has dismissed a lawsuit filed by a bar patron who claims he and another customer should have been searched for... Connecticut Bar Agrees to Penalty in Crash Case A Connecticut bar has agreed to pay a $5,000 fine and have its license suspended for 10 days for serving two customers who were killed in a... ABRY Acquires Majority Interest in York A Boston private equity firm has acquired a majority interest in New Jersey-based York Risk Services Group. ABRY Partners purchased the... Holloman Joins USG Pennsylvania-based wholesaler USG Insurance Services has named Jason Holloman as property broker specializing in large commercial and... More East News Midwest 2 Missouri Employers Jailed for Noncompliance With OSHA Citations The U.S. Department of Labor's Occupational Safety and Health Administration announced the arrest of two St. Louis, Mo., employers for... Insurance Program Managers Group Opens St. Louis Office Insurance Program Managers Group LLC of St. Charles, Ill., has opened a St. Louis, Mo., location. The office is operating under the name... More Midwest News Southeast Florida Limit on Public Adjuster Solicitation Ruled Unconstitutional A Florida court has thrown out a rule banning public adjusters from soliciting claimants within 48 hours of a disaster or other insurance... Immunity for Medicaid Providers Would Cost Taxpayers: Florida CFO Sink Shielding Medicaid providers from lawsuits for negligent acts could cost Florida's taxpayers an estimated $69 million per year in payments... 11 Arrested in Florida on Staged Accident Charges A yearlong investigation targeting insurance fraud has resulted in 11 arrests and three pending arrests connected with four Florida... Florida Student Settles Over Facebook Suspension A girl suspended from a Broward County charter school after she criticized a teacher on Facebook has settled a federal lawsuit against the... More Southeast News Texas / South Central Louisiana's Stonetrust Commercial Insurance Adds 3 to Management Team Stonetrust Commercial Insurance Co., a Louisiana-based workers' compensation insurer, has added the following individuals to its management... Texas' Adoption of Pharmacy Fee Guidelines Averts Delivery Disruption Texas Commissioner of Workers' Compensation Rod Bordelon recently signed an emergency rule adopting amendments to the workers' comp pharmacy... Texas Q1 2011 Workers' Comp Discount, Interest Rate Set at 3.8% The Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) has set at 3.8 percent the workers' compensation interest and... More Texas / South Central News West Calif. Commissioner Poizner: Insurance Agent Advice Critical to Regulator Post As California's third elected insurance commissioner, Steve Poizner has had a wealth of accomplishments. Among other things, he: reduced the... Wood Gutmann & Bogart Forms Silicon Valley RIsk and Insurance Services Wood Gutmann & Bogart Insurance Brokers headquartered in Tustin, Calif., has announced the formation of Silicon Valley Risk and... Intoxicated New Mexico Worker Still Entitled to Workers' Comp Benefits A New Mexico Court of Appeal has ruled that a Las Cruces city employee who fell off a garbage truck while intoxicated is still eligible to... Wood Gutmann & Bogart Acquires Barlocker Insurance Services Wood Gutmann & Bogart Insurance Brokers announced it has completed the acquisition of the assets from Barlocker Insurance Services of... Calif. Commissioner-Elect Jones Makes Executive Appointments California Insurance Commissioner-Elect has appointed his executive team at the Department of Insurance. The team includes: Chief Deputy... More West News International Rising Rivers Prompt Evacuations of Australian Towns The military flew out a town's entire population of 300 people by helicopter Wednesday in eastern Australia where waters continued to rise... UK Homeowners Insurance is Biggest Fraud Target; $3.55 Million a Day Home insurance is now the number one target for insurance fraudsters according to the hundreds of fraudulent insurance claims exposed every... Carlyle Group Sells $860 Million Stake in China Pacific -Sources Carlyle Group has sold a 2.5 percent stake worth around $860 million in China Pacific Insurance (Group) Co Ltd, sources said, helping the... Lloyd's Does Well in a Tough Year Lloyd's year-end review shows that, like the rest of the industry it faced a number of challenges in a difficult year. Low interest rates... Munich Re Invests $3.31 Billion in German Wind Power Plants Munich Re, via its asset manager MEAG, has concluded a significant investment deal involving wind power plants in Germany. It announced that... More International News Insurance Journal Blogs The close of 2010 Merry Christmas to all of you. I hope you are blessedwith good health, happiness and the spirit of giving in 2011. David Connolly More News Join the Insurance Journal Network Insurance Journal TV Brand Camp Explores New Ways to Connect with Customers and Peers Take a bunch of insurance professionals, put them together a room to study marketing... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Farmers E & O vs. UFAA Posted: Wed Dec 29 -- bartman, if you compare the Farmers E & O plan versus the UFAA plan, you will realize that the UFAA policy is a superior policy. Pay... lonestar Farmers Insurance Posted: Wed Dec 29 -- Bennet, do yourself a favor: Run away from this DM and Farmers as fast as you can. I recently left after 11 years. It will not get better,... lonestar SIAA vs. Cluster? Posted: Wed Dec 29 -- Haven't been on this site for a while. Todd if your still out there and want to talk, let me know. Steley- I agree 100% with you. SIAA is... sacman Farmers Refuses to Pay Botched Auto Repair Posted: Wed Dec 29 -- It is no secret that I am not a fan of Farmers, however, I do consider myself a fair minded individual. This is NOT Farmers fault and... sacman Co-signer for Auto Loan Posted: Wed Dec 29 -- Simi, He absolutely has exposure. He does NOT have coverage on his personal auto policy, since owned vehicles must be listed on his policy.... sacman CPCU 510 woes Posted: Wed Dec 29 -- I just am looking to sign up for a 510 test in January or February of 2011. I see they changed the CPCU 510 course with the CPCU 500 course.... tbob2985 Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) December 20, 2010 Download Full Issue More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Commercial Lines Customer Service Representative Account Manager - Palmer, AK Commercial Lines Account Manager Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2010 by Wells Publishing, Inc.

Daily Headlines: Wednesday, December 29, 2010

Contact us | Subscribe | Send to a Friend

December 29, 2010 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Allstate Sues Bank of America Over Countrywide Mortgage Losses Allstate Corp. has sued Bank of America Corp., its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks... BP Oil Spill Fund Pays $43 Million in 'Quick Pay' Claims The administrator of BP Plc's $20 billion compensation fund has paid $43 million to residents of the U.S Gulf Coast who agree not to sue the... Best Affirms USAA and Subs 'A++' Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength ratings (FSR) of 'A++' (Superior) and issuer credit ratings (ICR) of "aaa" of Texas-based... Best Affirms Progressive and Subs 'A+' Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa" of the Progressive... Best Puts Clarendon's Ratings on Review/Negative for Enstar Sale A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of 'A-' (Excellent) and issuer credit... BIS Launches Lenders Misrepresentation Insurance Bakerjian Insurance Services (BIS) has launched of a new insurance product designed to protect lenders against potential damage from... Top 5 Things Affecting Excess & Surplus Market in 2011 It has been a challenging few years for those in the excess and surplus (E&S) lines insurance market. An endless soft market, extreme... More National News East New Jersey Wants Seat Belt Safety to Click with Teens New Jersey will begin a new effort next year to try to improve on a grim reality: Motor vehicle accidents remain the leading cause of death... Connecticut Truck Safety Effort Yields 28,000 Citations Connecticut public safety officials say nearly 28,000 violations were recorded during the first four months of a crackdown on unsafe... Maine Reporter Sues Ski Area over Accident A newspaper reporter is suing a Maine ski area two years after breaking her back while riding inside a giant ball down a ski trail for a... Allstate Sues More New York Medical Firms Allstate has filed its seventh lawsuit this year against what it says are medical corporations committing fraud in New York State. The $1.9... Massachusetts Woman Gets Prison in Glass-Eating Scheme A Massachusetts woman has been sentenced to more than four years in prison after admitting that she and her husband intentionally ate glass... Gould Joins ProMutual Group Boston-based specialty insurer ProMutual Group has named Katharine Gould as public relations specialist. Gould will assist with public... More East News Midwest Ohio Supreme Court Ruling Favors Bus Wreck Survivors The Ohio Supreme Court says a university's insurance coverage extended to a charter bus that crashed, killing five student baseball players... Family of Michigan Man Shot by Police Sues City The family of a 39-year-old man who was fatally shot by three Sterling Heights police officers is suing the Detroit suburb. A civil lawsuit... Minnesota to Recieve More Than $2M in AIG Settlement The Minnesota Department of Commerce said it stands to receive more than $2 million in its share of a $146 million settlement with American... More Midwest News Southeast North Carolina Principal Gets Workers' Compensation After Shooting A North Carolina middle school principal who blames his April 2009 shooting on his fight against gangs will receive workers' compensation... Florida Citrus Zones Warming; Damage from Freeze Uncertain Temperatures in Florida's citrus growing zones were several degrees warmer Wednesday, the National Weather Service said, giving growers some... Kentucky Traffic Deaths Lowest in Years Traffic deaths in Kentucky are on pace to be the lowest this year since at least the early 1990s. As of last Wednesday, there were 739... Layden, Engles Join South Carolina's Triest Agency Thomas Layden and Abigail Engles have joined Triest Insurance Agency in Charleston. Layden has 10 years of experience having most recently... More Southeast News Texas / South Central Houston International Insurance Sells Southwest Risk to GCP Capital Houston International Insurance Group (HIIG) has sold its wholesale insurance broker subsidiary, Southwest Risk LP (SWR), to New York-based,... Oklahoma State Bar Association to Reimburse Client Losses The Oklahoma Bar Association's board of directors has voted to reimburse several Oklahomans who were the victims of deceased or dishonest... Texas Reports 3rd-Year Decline in Private Industry Injuries, Illnesses The Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) reports there were 213,507 total cases of nonfatal injuries... More Texas / South Central News West Oregon Workers' Comp Claim Incidence Rate at Record Low Oregon workers' compensation insurance claims rates in 2009 were at the lowest they've ever been, at less than 42 percent of the 1989 rate,... More West News International Heavy Rains, Floods Disrupt Australia Coal Mining, Port, Freight Operations Heavy rains and flooding in Australia's key coal-producing Queensland state have impacted mining operations and brought parts of the coal... Flagstone Re Places $210 Million Cat Bond Using RMS Paradex Indices Flagstone Reassurance Suisse SA and Risk Management Solutions have announced the successful placement of $210 million of multi-peril Montana... ACE Completes Acquisition of Rain and Hail Insurance Service ACE Limited announced from its headquarters in Zurich that it has completed its acquisition of Rain and Hail Insurance Service, Inc. for... Fitch Affirms Brazil's Sul America's Ratings; Outlook Stable Fitch Ratings Has affirmed today the following International and National ratings assigned to Sul America S.A. (Sasa), the holding company... More International News Sponsored Content The e-Marketing Minute is a bi-weekly video series designed to help insurance agents learn how to grow their agency utilizing the Internet. Check it out. More Sponsored Content Insurance Journal Blogs The close of 2010 Merry Christmas to all of you. I hope you are blessedwith good health, happiness and the spirit of giving in 2011. David Connolly More News Join the Insurance Journal Network Insurance Journal TV Brand Camp Explores New Ways to Connect with Customers and Peers Take a bunch of insurance professionals, put them together a room to study marketing... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums CPCU 510 woes Posted: Wed Dec 29 -- I just am looking to sign up for a 510 test in January or February of 2011. I see they changed the CPCU 510 course with the CPCU 500 course.... tbob2985 Farmers Insurance Posted: Wed Dec 29 -- Hello guys...! Is farmers insurance a good company to work for? I just got my license and am going to start with the company, but their are... Bennet How can a new agent obtain appointments? Posted: Tue Dec 28 -- Thanks Bill- I definitely appreciate the input. I do have the plan, working on the marketing strategy (all while holding down a full time... MarinerFan707 Professional Employer Organization Posted: Tue Dec 28 -- Much will depend upon what classes of business this PEO handles, along with what REAL loss control and other claims mitigating services they... Big Dog Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) December 20, 2010 Download Full Issue More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Commercial Lines Customer Service Representative Account Manager - Palmer, AK Commercial Lines Account Manager Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2010 by Wells Publishing, Inc.