Nov 29, 2010

Daily Headlines: Monday, November 29, 2010

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Insurance Journal Daily Headlines
November 29, 2010
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Today's Headlines

National

State Regulators Worried About Future of Health Insurance Brokers

State insurance regulators have established a task force to monitor the negative effects the new federal health reform law might have on...

Medical Liability Market Faces Challenges from Health Care Changes

The medical professional liability insurance industry faces new challenges from both health reform and increased competition. A new industry...

The Time is Not Right to Drop Real Estate Professionals E&O

The ongoing downturn in the real estate market is forcing many professionals to make tough choices on where to trim expenses. While during a...

Markel CEO Kirshner to Be Absent Due to Medical Treatments

Specialty insurer Markel Corp. said today that Chairman and Chief Executive Officer Alan Kirshner may be absent from the corporation's...

From MyNewMarkets.com State Legislators Adopt Surplus Lines Tax Compact, Compliance Resolution

The National Conference of Insurance Legislators (NCOIL) has adopted a revised version of the Surplus Lines Multi-State Insurance Compact...
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East

New Hampshire Supreme Court Rejects Golfer's Negligence Claim

You play golf, you assume risks. So says New Hampshire's Supreme Court. The state's highest court has upheld dismissal of a negligence...

Maine Man Wants Coffee Shop Arson Trial Moved

A 49-year-old Maine man charged with burning down a topless coffee shop wants his trial moved. Raymond Bellavance claims pretrial publicity...
Midwest

Feds Say Loren-Maltese Insurance Fraud Conviction Should Stand

Federal prosecutors say the fraud conviction of former Cicero, Ill., president Betty Loren-Maltese should stand, even after a U.S. Supreme...

Former North Dakota Agent Gets Probation, Makes Restitution

An insurance agent who conned a Grand Forks, N.D., real estate company into paying for nonexistent home insurance policies has been given...

Insurance Doesn't Cover Milwaukee Priest Sex Abuse

The Archdiocese of Milwaukee's insurance company doesn't have to pay damages that could arise from more than a dozen lawsuits involving sex...

Ohio Insurance Department Unveils New Premium Comparisons

Ohio Department of Insurance Director Mary Jo Hudson announced a new online tool designed to educate and assist Ohioans in finding auto...

Columbus, Ohio, OKs Benefits for City Workers' Partners

Ohio's largest city will offer domestic partner benefits to its employees a dozen years after a similar plan was canceled under public...
Southeast

Audit: South Carolina Workers' Comp Board Delayed Money Deposits

The state's Workers' Compensation Commission broke state law by not depositing fines as it worried legislators would use the money for...

Judge Upholds West Virginia Mine Accident Reporting Rule

A Kanawha County Circuit Court judge has upheld a state law giving coal mine operators 15 minutes to tell regulators about fires and other...

DuPont Offers $70 Million to Settle West Virginia Pollution Case

Chemical company DuPont last week offered to pay $70 million and spend millions more on medical monitoring for the next 30 years to end a...

Reports on 2 West Virginia Chemical Plant Incidents Delayed

Reports on a federal board's investigations of fatal incidents at two West Virginia chemical plants won't be released until next year. The...

Florida's Brightway Insurance Acquires Orange Park Agency

Brightway Insurance recently acquired General Insurance Concepts, a 20-year-old property and casualty insurance agency offering personal and...
Texas / South Central

Farmers Insurance Files for Homeowners Rate Hike in Texas

Farmers Insurance has filed for a 3.9 percent rate increase for homeowners policies in Texas. The Dallas Morning News reports that Farmers'...

Texas to Insurers and Agents: Don't Misrepresent Insurance Coverage

The Texas Department of Insurance issued a bulletin reminding insurance companies and agents that misrepresentation of insurance policies by...

Heisz and Midanek Elected to HCC Insurance Holdings Board

Houston-based HCC Insurance Holdings Inc. announced that Leslie Stone Heisz and Deborah Hicks Midanek have been elected as independent...
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West

Allstate Cuts California Renter's Rates 19.6%

Allstate Insurance Co. announced it is dropping the price California consumers pay for renter's insurance coverage 19.6 percent statewide....

Wyoming Collecting More Details About Car Crashes

Wyoming officials have compiled their first monthly report on vehicle crashes using more detailed information from officers in hopes of...

Los Angeles CPCU Names New Officers

The Los Angeles chapter of the Chartered Property Casualty Underwriters Society has installed its 2010-2011 officers and directors. They...

AmCom Insurance Names Maddox Senior VP of Underwriting

Rene' Maddox has been promoted to senior vice president of underwriting at AmCom Insurance Services Inc. Maddox now manages all aspects of...
International

France, Germany Say Euro Saved; Investors Remain Skeptical

Germany and France declared on Monday that Europe had taken decisive action to save the euro by rescuing Ireland and laying the foundations...

Ireland, EU Conclude $113 Billion Bailout

Negotiators for the Irish government and the European Union put the finishing touches on an €85 billion [$113 billion] bailout for the...

UN Climate Talks Seek to Bridge Rich-Poor Divide

A new round of U.N. climate talks opens on Monday with almost 200 nations meeting in Mexico in hopes of clinching an agreement on a narrow...

Willis Marine Review Concludes Surplus Capacity 'Defies Logic'

Willis Group Holdings' annual Marine Market Review has concluded that "while the shipping industry is showing tentative signs of recovery,...

Aon Benfield Launches New 'ReMetrica' Model for Solvency II

Aon Benfield's London office announced the launch of its new Solvency II-focused version 5 of ReMetrica, its dynamic financial analysis tool...

Cooper Gay Restructures Marine Reinsurance Team

Cooper Gay, the UK-based independent global wholesale broker, which combined with Swett & Crawford in July, has restructured its London...

Canada Revenue Agency Confirms Barbados Insurers Exempt Status

The Canada Revenue Authority (CRA) confirmed that Barbados insurance companies including Exempt Insurance Companies (EIC) and Qualifying...

CNA Canada Updates Global Master Policy

CNA Canada has improved and updated Oneworld Global Master Policy. This worldwide policy provides coverage for Canadian-based business...
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