Nov 19, 2010

Daily Headlines: Friday, November 19, 2010

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Insurance Journal Daily Headlines
November 19, 2010
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Today's Headlines

National

Senators Urge Bipartisan State Healthcare Waiver

A Democrat and a Republican teamed up in the U.S. Senate Thursday to offer legislation that would give states the flexibility to implement...

Insurance Outsourcing Need Not Be a Foreign Concept

As more and more experienced insurance agency and carrier employees discover their retirement income isn't what they thought it would be,...

Firefighters Busy on Thanksgiving Day

For most Americans, Thanksgiving Day invokes memories of safe and warm family gatherings featuring hot turkey dinners. But for some 2,000...

Best Upgrades Ratings of Zurich's U.S. Subsidiaries to 'A+'

A.M. Best Co. has upgraded the financial strength rating (FSR) to 'A+' (Superior) from 'A' (Excellent) and issuer credit ratings (ICR) to...

Marsh Enhances D&O Liability Modeling Capabilities

Given today's heightened scrutiny on publicly traded companies and the proliferation of securities class action lawsuits, properly insuring...

Navigators Introduces Global Employee Protection Coverage

The Navigators Group, Inc.'s principal underwriting agency subsidiary, Navigators Management Company Inc., has introduced a foreign package...

HCC Insurance Holdings Hires Team for Technical Property Division

Houston-based HCC Insurance Holdings Inc. has hired Frank Pedicini and Frank Argondizzo to lead the company's new technical property...

From MyNewMarkets.com Global Economic Rebound Will Boost Demand for Political Risk Coverage, Say Underwriters

While the rest of the insurance market struggles to come out of what seems to be a never-ending soft market, pricing for political risk...
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East

Forfeiture Hearing Set in Ex-Pennsylvania Judge's Fraud Conviction

A federal court forfeiture hearing is set in the case of a former Pennsylvania Superior Court judge convicted of insurance fraud. Michael...

Bruce Named Connecticut Underwriter of Year by NAIW Chapter

The Connecticut Chapter of the National Association of Insurance Women has named Cynthia Bruce, an underwriter at E&S broker S.H. Smith...
Midwest

Burns & Wilcox Acquires Ohio Wholesale Agency

Independent wholesale broker and underwriting manager Burns & Wilcox, based in Farmington Hills, Mich., has acquired NorthCoast Excess...

A.J. Gallagher Acquires Behnke & Co.

Arthur J. Gallagher & Co. has acquired Behnke & Co. Inc., a retail insurance broker headquartered in Decatur, Ill. Terms of the...

Mangold Named to Professional Liability Leadership Team at Markel

Markel Corp. has appointed Glen Mangold as managing director for its architects and engineers, agents and brokers, and lawyers product...

Illinois Wants Comments on Health Insurance Exchange

Illinois is seeking public comment on the structure, governance and financing of an online insurance exchange. Individuals and small...
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Southeast

BP's Deep Cleaning of Gulf Beaches Getting Mixed Reviews

At Orange Beach in Alabama, what's typically a beautiful, quiet stretch of beach in the fall now resembles a construction site. Bulldozers...

Work-Related Deaths Decline in West Virginia

Work-related deaths in West Virginia have fallen to their lowest level since 2002. Preliminary figures released this week by the U.S. Bureau...

Florida's BankAtlantic Executives Found Guilty of Securities Fraud

Executives at Florida-based lender BankAtlantic Bancorp Inc. failed to alert investors about risks in its real estate loan portfolio as the...

Florida Jury Awards Smoker's Daughter $80 Million

A Florida jury has awarded the daughter of a deceased smoker $80 million in a lawsuit against R.J. Reynolds Tobacco Co. Dianne Webb claimed...
Texas / South Central

Texas Likely Will Seek to Protect Its Piece of Surplus Lines Tax Pie

The federal financial services reform act signed by President Barack Obama in July 2010 contained a provision reforming the way surplus...

TWIA Maximum Limits of Liability to Remain Unchanged for 2011

The Texas Windstorm Insurance Association (TWIA) announced that maximum limits of liability will remain unchanged for 2011. Effective Jan....

Villamil Joins Board of New Orleans-based Pan-American

Pan-American Life Insurance Group (PALIG), which provides insurance and reinsurance internationally, announced that Dr. Jose Antonio...
West

Oregon Proposes Changing Insurance Licensing Requirements

The Oregon Insurance Division recently has proposed changing rules to restructure the order in which a person applies for an insurance...

Wyoming Leads Nation with Highest Motor Vehicle Fatality Rate

Wyoming has the unfortunate record of having the highest rates of motor vehicle fatalities per 100,000 people, with a rate of 24.6,...

All Risks Names Daugherty Undewriting Manager in Arizona

Hunt Valley, Md.-based All Risks Ltd. has named Abby Daugherty an underwriting manager in the Phoenix office. Daugherty has more than a...

Western Asset Management Adds 3 to Staff

Pasadena, Calif.-based Western Asset Management, the fixed income affiliate of Legg Mason Inc., has appointed three senior professionals to...
International

New Zealand Coal Mine Blast Traps 27 Miners Underground

An explosion rocked a remote colliery in New Zealand on Friday, trapping 27 miners underground, the company and local authorities said. The...

UN Cancun Climate Talks Must Solve Forest Carbon Riddle

U.N. climate talks will struggle to agree new greenhouse gas targets next month unless they can solve a complex loophole where developed...

Best Upgrades Zurich's Ratings to 'A+'

A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating (FSR) to 'A+' (Superior) from 'A' (Excellent)...

Starr & Co Appoints Breeck as Head of Casualty for Germany

C. V. Starr & Co., Inc. announced the appointment of Rainer Breeck in Germany as Head of Casualty for Starr Casualty, a division of...

Best, S&P Put RenRe's U.S. Operations under Review/Negative

A.M. Best Co. and Standard & Poor's Ratings Services have both placed their credit and financial strength ratings on RenaissanceRe's...

Best Removes Bahamas First Gen'l., Cayman First Ratings from Review

A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of 'A-' (Excellent)...
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Branding Passion

Recently, I have been working with a client on branding. When you think about creating a brand, where do you begin? The word "Brand" in our...

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William R. Berkley: Insurance Pricing Cycle Due for a Change

William R. Berkley, founder, chairman and CEO of the W.R. Berkley Corp. believes the current...

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New Discussions in the Forums

Need Commercial Truck Broker E&O/Liability
Posted: Fri Nov 19 -- I have a prospect that was referred to me and they are a Commercial Truck Broker and need E&O/Liability. The trucks transport fuel/gasoline... larsimo
Ex-Dates
Posted: Fri Nov 19 -- Jimmy, Was wondering if you could give us an update on the program you mentioned now that it's well over a year later? Are you still using... hfiagency
umbrella underlying limits
Posted: Thu Nov 18 -- No, it would not be a Self Insured Retention. It would be lack of Underlying or Controlling Primary Insurance, which is not the same thing. LadyBroker
CA redsidential Earthquake
Posted: Thu Nov 18 -- Fidelity National offers a stand alone program. FurriePrincess
SIAA vs. Cluster?
Posted: Wed Nov 17 -- I spent many years writing personal lines as a captive agent in Massachusetts. A few years ago I opened my own independent agency (also in... mygolden
CA WC Moving Company
Posted: Wed Nov 17 -- You can try Burns and Wilcox in Rancho Cordova, Yates and Associates in Tustin or Union General in Concord... SFOInsuranceLady
Agency Management System
Posted: Wed Nov 17 -- We have been on TAM forever as well. We currently have 5 users. We are NOT Tam online. We pay $581 per months which is in line with your... yoyowordup
Direct mail
Posted: Wed Nov 17 -- For an economy going through a downturn, marketing and advertising expenses regress across majority of industries. On the other hand, there... seo-marketing
Advice on purchasing a small agency in California
Posted: Tue Nov 16 -- The formula for 'multiple of commission' is generally used in small agency structures, where the owner/principal/agent/producer is often the... d's insurance store

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