Nov 8, 2010

Daily Headlines: Monday, November 8, 2010

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Insurance Journal Daily Headlines
November 8, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Panel on BP Gulf Oil Disaster Could Shape Liability Issues

The White House oil spill commission will delve into the root causes of the BP offshore drilling disaster at a meeting Monday that may have...

Internet Scam Targets Insurer USAA's Customers

USAA, the banking and insurance company that caters to military personnel, says it is investigating an e-mail scam aimed at getting its...

How Insurance Companies Can Live to Be 100 and Beyond

Companies that seek longevity in the insurance industry should not focus solely on increasing profits. That's the assessment of Robert P....

Liberty Adds Manufacturers' E&O Endorsement to Product Recall Policy

Normally sold as a stand-alone professional liability policy, the new manufacturers' errors and omissions (ME&O) endorsement from...

From MyNewMarkets.com Reporting Firms Face Risks As U.S. Cracks Down on Medicare, Medicaid Costs

The federal government's crackdown on fraud and errors in Medicare and Medicaid is raising liability issues for firms that specialize in...
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East

Lawsuit Charges Room at New York's Waldorf had Bedbugs

A Michigan couple has filed a lawsuit claiming their room at New York's Waldorf-Astoria hotel was infested with bedbugs. Christine and David...

Granlun Joins CNA in Philadelphia

CNA has appointed Denise Granlun as business development leader for the insurer's Philadelphia territory. She joins CNA with 25 years of...
Where Can You Find Over 5,000 Programs From Hundreds of Markets? Insurance Journal's Program Directory (Available Soon!). Click here for more info.
Midwest

Election Results Could Upset Michigan Supreme Court Calendar

Election results have created uncertainty at the Michigan Supreme Court where 18 cases were scheduled to be argued in December before...

Flood Buyouts May Alter North Dakota Neighborhoods

Kolbjorn and Solvi Rommesmo moved to the Heritage Hills subdivision along the Red River south of Fargo, N.D., because it was peaceful and...

Minnesota Leads on Tornado Touchdowns

Minnesota can claim this touchdown record. It leads all others in the number of tornadoes that have swept through the state this year. The...

North Dakota Insurance Agent Accused of Theft

Bond has been set at $17,500 for a Minot, N.D., insurance agent facing a felony theft charge. State Insurance Commissioner Adam Hamm says...
Southeast

Some Question Data on Low Worker Injury Rates in North, South Carolina

A new federal study estimating the rate of workplace injuries last year finds North and South Carolina among the country's safest in which...

Mississippi Court Denies Bid for Katrina Claims Data

The Mississippi Supreme Court has upheld the dismissal of a lawsuit filed by a Long Beach man who wanted the state to release records that...
Texas / South Central

Equity Risk Partners, Lipscomb & Cathey Form Dallas Partnership

Insurance brokers Equity Risk Partners (ERP) and Lipscomb & Cathey have formed a joint venture to cater to the needs of the private...

James Joins RSI International in Commercial Underwriting Unit

RSI International Inc., a Texas-based managing general agency, announced that Robin James has joined its Commercial Underwriting Department...

U.S. Risk Names Wafer an Associate Broker in Houston

Managing general agency and surplus lines wholesaler, U.S. Risk Insurance Group Inc., has named Elizabeth Wafer an associate broker working...
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West

California Approves Amendments to Privacy Regulations

In what's being called "a major victory for insurance agents and brokers," the California Office of Administrative Law has approved...

Oregon State to Assist Crop Insurance Program

An innovative climate and weather monitoring system developed at Oregon State University in Corvallis will soon be used to help underwrite...

Barney & Barney's Thaw Recognized Among 'Women Who Mean Business'

Barney & Barney LLC Practice Group leader Robyn Thaw has been recognized by the San Diego Business Journal among their 2010 "Women Who...
International

Fear of Volcanic Ash Leads to Flight Cancellations to Jakarta

Just days before President Barack Obama's long-awaited visit to Indonesia, some international flights were canceled over concerns about a...

Qantas Grounds A380s for 3 More Days to Inspect Engines

Australia's Qantas Airways has grounded its A380 fleet for at least another three days as it investigates oil leaks as a possible cause of...

New Solar Cycle Poses Potential Disruption Threats Warns Lloyd's

While extreme weather events on earth continue to cause a lot of damage and loss of lives, a "much larger global threat is on the horizon,...

Somali Pirates Release South Korean Tanker after Ransom Payment

Somali pirates have freed a hijacked South Korean-operated supertanker and its 24 crew after seven months of captivity, officials said...

Seek U.S. Markets ACE UK Tells British Business, but Be Careful

An analysis from ACE UK points out that international trade has taken a major role in the newly elected governing coalition's economic...

Cooper Gay Targets U.S. Casualty Business with London Appointment

Cooper Gay is moving ahead with plans for U.S. expansion following its recent amalgamation with Swett & Crawford. The broker announced...

Ratings: First Capital, First Net, Trinidad & Tobago Ins., Harmony General

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of Singapore's First Capital...
Insurance Journal Blogs

Anatamy of a large account sale

This October marks my 31stnd anniversary in the insurance industry. Many things have changed since my first insurance sale. Initially, my...

Defining Your Core Values Part II - Small Agencies In Small Towns

I have worked with a number of individuals who are great entrepreneurs whose companies have grown rapidly and out-of-control. It is so very...

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Markets in Motion: Environmental Liability Coverage

When the financial crisis and subsequent recession hit, many businesses cut back on expenses...

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New Discussions in the Forums

State Farm Commission Structure
Posted: Sun Nov 7 -- You guys hijacked my thread. At least answer me this, How does their bonus program work. I heard something to the tune of 11k per month from... JAM
umbrella underlying limits
Posted: Fri Nov 5 -- It's not maybe that the agent allowed it to be written with no underlying GL, what do you do if the client lets the GL lapse during the... LadyBroker
Agency Management System
Posted: Fri Nov 5 -- There is not a "Best Agency Management System." But there is a best system for your agency. I have helped many agencies go through the... SteveAnderson
Done with CPCU 510 & 540, which one next???
Posted: Fri Nov 5 -- Keir is great, I used it for all my CPCU classes and it was a big help. You need to focus on the objectives in the course guide; Keir is a... cgb
GA's binding responsibility
Posted: Fri Nov 5 -- No this account was a new piece of business. I also thought it was strange edmundich
Massachusetts Credit Scoring
Posted: Tue Nov 2 -- What's the significance of NCOIL? Doesn't the NAIC make model laws that most commissioners agree to? kcharette
Brokers fees becoming more common?
Posted: Mon Nov 1 -- He is either trying to run them off or squeeze more money from them. Look at how excessive the Broker Fees are and that should tell you. FFA
Condo Association: BOP vs. Package?
Posted: Mon Nov 1 -- Many companies have condo association BOPs with specially tailored coverage like D&O for the condo Board which may not be readily available... Mainemiss

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