Nov 4, 2010

Daily Headlines: Thursday, November 4, 2010

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Insurance Journal Daily Headlines
November 4, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Republicans Take Control in 54 State Legislatures

Republicans were not only victorious in the U.S. House but also in state houses across the country. Tuesday night's GOP power will give the...

Insurance Pricing Cycle Due for a Change, Berkley CEO Says

It's time for a change in the property/casualty insurance pricing cycle, says William R. Berkley, founder, chairman and CEO of the W.R....

Big 'I' Insurance Agents Gave $1.7 Million to Shape New Congress

The Independent Insurance Agents & Brokers of America (IIABA or the Big "I") said that its political action committee, InsurPac,...

ACE Appoints Shevlin in Southeast, Rau in Southwest

ACE USA, the U.S.-based retail operating division of the ACE Group, has appointed Jim Shevlin as senior vice president and regional...

From MyNewMarkets.com Survey: Private Firms Expect Growth, Employee Theft and Data Breach

Nearly half (44 percent) of private company executives expect their firms will add jobs by year end, and more than half (54 percent) plan...
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East

New Jersey Ex-Assemblyman Gets 5 Years for Child Pornography

The former chairman of the New Jersey Assembly's insurance committee has been sentenced to five years in prison for distributing child...

Coroner: Pennsylvania Roofer Wasn't Wearing Harness

Authorities say a roofer wasn't wearing a safety harness when he fell died in a roof collapse at a prestigious eastern Pennsylvania private...

Bradway Joins Business Risk Partners

Connecticut-based managing general agency Business Risk Partners has named Mark Bradway as director of broker relations. He has worked in...
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Midwest

GOP Adds Governorships in Midwest

Midwestern states were among those that added to Republican gains in governor's offices across the country on Nov. 2. Iowa, Kansas,...

Unitrin Names Vigneau as CFO

Chicago-based Unitrin Inc. announced that its board of directors has elected Dennis R. Vigneau as Unitrin's senior vice president and chief...

Illinois Voters Approve Governor Recall Amendment

With one ex-governor in prison and another convicted of a felony, Illinois voters decided Tuesday that they want the power to rein in future...
Southeast

U.S. Seeks to Shut Massey Mine in Kentucky Over Safety

Mine safety regulators have filed a motion against a company owned by Massey Energy , claiming safety violations at one of its mines in...

Kentucky Contractors' Self-Insurer to Return $11 Million Dividend

The Kentucky Associated General Contractors Self Insurers' Fund, a provider of workers' compensation insurance, said it will return $11.3...

McCahill Retires at Florida's St. James Insurance

Jim McCahill has announced his retirement from active duty with St. James Insurance Group and St. Johns Insurance Co. Robert Lucas will...
Texas / South Central

Farmers Completes Move Into New Oklahoma City Facility

Employees of Farmers Insurance have relocated to their new 175,000 foot facility near Memorial and Rockwell roads in Oklahoma City. The new,...

Dems Lose Seats, Keep Control of Arkansas Legislature

Democrats still hold the majority in the Arkansas General Assembly, but Republicans made historic gains in the House and picked up at least...
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West

5,000 Coloradoans File Complaints Against Insurers

Nearly 5,000 formal complaints from more than 26,000 consumer inquiries on insurance questions have been filed by Coloradoans with the state...

Western National Insurance Purchases Umialik Insurance

Western National Insurance Group of Edina, Minn., has signed a definitive agreement for the purchase of 100 percent of the stock of...

Momentous Insurance Names Wilson Sales Executive

Momentous Insurance Brokerage has named Christopher Wilson a sales executive in its Employee Benefits Department. He will help to expands...

Sepulveda Joins Worldwide Facilities

Worldwide Facilities Inc. announced that Xavier Sepulveda has joined its Irvine, Calif., office as broker on the property team. Sepulveda...
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International

TS Tomas on Track to Strike Haiti, Jamaica; May Gain Strength

The most recent bulletin from the National Hurricane Center, posted at 11:00 a.m. EDT, puts Tropical Storm Tomas about 125 miles, 205 kms...

Qantas Grounds A380s after Engine Failure Causes Emergency Landing

Qantas Airways suspended flights of its Airbus A380 fleet on Thursday after engine failure triggered an emergency landing in Singapore, one...

French Reinsurer SCOR Group to Back New Lloyd's Syndicate

France's SCOR Group announced that the Lloyd's Market Franchise Board has given its "in principle" approval to the creation of Syndicate...

Zurich Posts $1.2 Billion Q3 Operating Profit; $751 Million Net Income

Zurich Financial Services Group reported a business operating profit of $1.2 billion and net income of $751 million for the third quarter....

Swiss Re Q3 Net Income Doubles at $618 Million; Berkshire Loan Terminated

Swiss Re reported third-quarter net income of $618 million, compared to $314 million in the prior-year period. The reinsurer also announced...

XL Posts $77.5 Million Q3 Net Income; $175 Million Operating

Bermuda-based XL Group plc reported net income attributable to ordinary shareholders of $77.543 million for the third quarter of 2010, or...

PartnerRe Reports $525 Million Q3 Net Income; $282 Million Operating

Bermuda-based PartnerRe Ltd. reported net income of $524.9 million, or $6.76 per share on a fully diluted basis for the third quarter of...

Argo Group Q3 Net Income $23 Million; $25.7 Million Operating

The Bermuda-based Argo Group International Holdings, Ltd. reported earnings figures for the third quarter of 2010 which show net income of...

Liberty Mutual to Establish Joint P/C Venture with India's Videocon

Liberty Mutual Group announced that it has concluded a partnership with "Videocon Industries Ltd., the flagship company of $5 Billion...

Lloyd's to Open Russian Office

Lloyd's announced that it will open a representative office in Russia next year. The bulletin indicated that a "dedicated country manager...

Consolino Named Validus President; Will Continue to Serve as CFO

Bermuda-based Validus Holdings, Ltd. announced that Joseph E. (Jeff) Consolino has been named President of the Company, effective as of...
Sponsored Content

American Claims Management Expands Business Relationship With Starr Indemnity

San Diego, CA, 11/04/10 - American Claims Management, Inc. (ACM) announced an expansion in its business relationship with Starr Indemnity...
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

GA's binding responsibility
Posted: Thu Nov 4 -- In the current soft market you should have the binder immediately. If their service sucks find another GA and/or carrier. And don't believe... kevinraz
umbrella underlying limits
Posted: Wed Nov 3 -- It depends. If the umbrella does not require the insured to maintain an underlying GL policy for this bldg (which is highly unlikely), then... wariline
Done with CPCU 510 & 540, which one next???
Posted: Tue Nov 2 -- I work for The Institutes. First of all, I'm pleased that you're considering the CPCU program. We do offer our own SMART study aids... skryan
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
State Farm Commission Structure
Posted: Mon Nov 1 -- For the uninitiated, 4521 is State-Farm-speak for Broker of Record letter, in other words the form a SF policyholder signs to change from... Rochambeau
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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November 1, 2010

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