Nov 22, 2010

Daily Headlines: Monday, November 22, 2010

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Insurance Journal Daily Headlines
November 22, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Many Insurers Seen Missing Tech Opportunities to Target Gen Y

Most insurers are letting consumer technology like smartphones and social media networks get ahead of them, creating a challenge to attract...

Moody's: P/C Insurers' Losses Under Municipal Bonds Manageable

U.S. property/casualty insurers are not likely to sustain substantial losses on municipal bonds, Moody's Investors Service says in a new...

Safety Officials Warn 13 Mines in 7 States

Federal regulators late Friday warned 13 mining operations in seven states, including two owned by troubled Massey Energy Co., to show...

Best Affirms Assurant and Subsidiaries Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health...

Ratings Recap: Electric, Clearwater, ACE INA (notes)

Standard & Poor's Ratings Services has affirmed its 'A' counterparty credit and financial strength ratings and stable outlook on...

Berkley Oil & Gas Partners with Dallas MGU for Oil, Gas, Energy-Related Risks

Berkley Oil & Gas, a member company of W. R. Berkley Corporation, has formed a partnership with J. H. Blades & Co., Inc./Swett &...

Chartis Launches Fidelity, Crime Insurance Program

Chartis has introduced CrimeGuard Choice, a fidelity and crime insurance solution developed by its Executive Liability Division. CrimeGuard...

Trustees for LexisNexis Insurance Exchange Named

The insurance technology platform that promises to streamline transactions between insurance agents/brokers and their carriers now has a...

From MyNewMarkets.com Why Restaurant Insureds Should Invest in Cyber Risk Coverage

The Internet has dramatically changed the way most companies operate. For many businesses, their insurance may not have kept pace with their...
East

New York Agents Lose Court Battle over Compensation Disclosure

New York agents failed to make their case that insurance regulators cannot require agents and brokers to disclose their commissions, a...

Deal Settles Most Lawsuits over WTC Toxic Dust

A deal reached by New York City and workers exposed to toxic dust that blanketed ground zero after the Sept. 11 terrorist attacks will...

Rhode Island Charges Ex-Providence Politician with Fraud

A former North Providence councilman already accused of corruption was indicted Thursday along with three others, including an on-air radio...
Midwest

Best Affirms Fremont's 'A-' Ratings

A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating (ICR) of "a-" of Fremont Insurance...

Ohio Workers' Comp Administrator Resigns

Ohio Bureau of Workers' Compsnation Administrator Marsha Ryan has resigned, effective Jan. 9, 2011. Ryan was appointed by Governor Ted...

Workplace Chaplains Offer Wis. Employees Support

Renee Lubinski moved among the machines and production lines that produce pizza crust and tortillas at TNT Crust's Elizabeth Street Plant in...

CIS Group Acquires Indiana's Cornerstone Appraisal

CIS Group LLC, a subsidiary of CIS Holdings LLC and an affiliate of CEP, has completed its acquisition of Cornerstone Appraisal Services of...
Southeast

Kentucky Jury Awards $42 Million in Nursing Home Death

The family of a man who died after nine days in a Madisonville nursing home has won a $42.75 million verdict. Attorney Lisa Circeo argued in...

Mississippi Court Rejects Bad Faith Part of Katrina Damages Award

The The Mississippi Supreme Court has upheld a breach-of-contract verdict in a dispute between an insurance company and a retired Navy...
Texas / South Central

Series of Earthquakes Shake Arkansas

A series of earthquakes, including one with a magnitude of 3.9, has rattled parts of Central Arkansas. The U.S. Geological Survey reported a...

Insurance Council of Texas Awards Scholarships

Insurance and risk management students at four Texas universities were recently awarded $40,000 in academic scholarships from the Insurance...
West

California Self-Insured Group Defaults

The Contractors Access Program of California (CAP), a self insured group, has been declared in default due to insufficient funding required...

Calif. Commissioner Rejects Increase in Workers' Comp Cost Benchmark

California Insurance Commissioner Steve Poizner has rejected – for the third consecutive time – a workers' comp rate filing...

Wyoming Insurers That Provide Fraud Tips Shielded From Lawsuits

Wyoming's Joint Corporations, Elections and Political Subdivisions Interim Committee has endorsed a draft fraud bill that would provide...

Farmers Appoints Shriver Senior VP Field Operations in Southwest

Farmers Insurance has appointed Rick Shriver senior vice president of field operations, Southwest Zone. The Zone includes Arizona, New...
International

Markets, Partners Relieved as EU, Ireland Form Rescue Plan

Financial markets rallied slightly and European Union partners voiced relief on Monday after Ireland agreed in principle on a three-year...

Allianz Warns Climate Change Could Hit Harder than Financial Crisis

As the UN climate summit in Cancun approaches, the insurance industry is preparing to present its case to the poiticians, business leaders...

ABI Highlights Insurers' Role in Helping Cumbria Flood Victims

One year ago a series of devastating floods hit Cumbria, the county on the west coast of England just below the Scottish border. Heavy rain...

Source Says Bids for AIG's Taiwan Unit Seen as Early as December

First-round bids for American International Group Inc's (AIG) Taiwan unit Nan Shan Life are likely shortly after due diligence ends in early...

UK's Football Ass'n.Insurers to Cover Star Player's Wages after Injury

The UK's Football [Soccer] Association's insurers will pay compensation to Liverpool after midfielder Steven Gerrard sustained a hamstring...

RatingsRounup: Allied World (Notes), ZEP-Re, Evergreen Re

A.M. Best Co. has assigned a debt rating of "bbb" to the recently issued $300 million 5.5 percent senior unsecured notes due 2020 of...
Sponsored Content

NAPSLO, The Council, AAMGA Urge States to Bring Laws Into Compliance with NRRA

November 22 2010 - The National Association of Professional Surplus Lines Organizations (NAPSLO), the American Association of Managing...
Insurance Journal Blogs

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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Insurance Journal TV

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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

State Farm Commission Structure
Posted: Mon Nov 22 -- There are different structures they can use for new agents. It varies with the number of policies they start you off with. If you are taking... magazine
CA auto wrecking
Posted: Sat Nov 20 -- Who would you guys recommend for a auto wrecking company. I usually do these with Yates or BLiss and Glennon. I got a new client who not... jack1978
Need Commercial Truck Broker E&O/Liability
Posted: Fri Nov 19 -- If you are requiring the contingent AL and contingent cargo we can help. The professional liability for a broker (or brokerage) in the event... Miguelito
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
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

Current Issue

Current Issue
Contractors & Builders; Long-Term Healthcare Liability; Top Personal Lines Retail Agencies
November 15, 2010

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