Nov 30, 2010

Daily Headlines: Tuesday, November 30, 2010

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Insurance Journal Daily Headlines
November 30, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Senate Fails in Attempts to Repeal Health Law Provision on 1099 Tax

Efforts to repeal what is widely seen as a burdensome tax provision in the new federal healthcare law failed in the U.S. Senate Monday...

AIG Returns to Debt Markets to Raise Capital

Bailed-out insurer American International Group (AIG) returned to the debt market Tuesday after more than a two-year absence, part of its...

TARP Bailout Cost to Taxpayers Down to $25 Billion

The U.S. Troubled Asset Relief Program, which risked up to $700 billion of government funds to bail out troubled banks and automakers, will...

Best Assigns 'A' Ratings to Aspen American Insurance Company

A.M. Best Co. has assigned a financial strength rating of 'A' (Excellent) and an issuer credit rating of "a" to Dallas-based Aspen American...

Extremely Active Atlantic Hurricane Season was a 'Gentle Giant' for U.S.

The 2010 Atlantic hurricane season, which ends tomorrow, was one of the busiest on record, according to the National Oceanic and Atmospheric...

Hartford Steam Boiler Adds Legal Defense to Data Breach Coverage

The Hartford Steam Boiler Inspection and Insurance Company (HSB) has expanded its data breach coverage for business owners, which helps them...

Zurich Expands Property Portfolio Protection for Construction Businesses

Zurich has expanded its its Property Portfolio Protection (P3) for the construction industry. P3, an alternative to ISO forms, offers...

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 York Eases Some Workers' Compensation Policy Rules

New York has eased some workers' compensation insurance requirements for out-of-state businesses that do only occasional, non-construction...

High Court Sides with New York City Police in 2005 Shootout

New York City police officers were justified in shooting at an armed suspect on a Harlem street in 2005, a shootout that injured a mother...

New Hampshire Firefighter Gets 3 to 10 for Setting Fires

A former New Hampshire firefighter is going to prison for at least three years after pleading guilty to setting a series of...
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Midwest

Auto, Homeowners Insurance Costs in Ohio Well Below National Average

Ohio consumers pay $226 less for homeowners insurance than the U.S. average and nearly $167 less for auto insurance than the U.S. average,...

Minnesota's Superior Insurance Agency Joins ISU Network

ISU International announced that Superior Insurance Agency of St. Cloud, Minn., has joined the ISU Network. ISU Superior Insurance Agency is...

A.M. Best Downgrades Ratings of Kansas-based Upland Mutual Insurance

A.M. Best Co. has downgraded the financial strength rating to B+ (Good) from B++ (Good) and issuer credit rating to "bbb-" from "bbb" of...
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Southeast

Insurer Wants Ex-Judge Off Mississippi Lawyer Case

An insurance company wants former Mississippi Supreme Court Justice Oliver Diaz kicked off a lawsuit involving imprisoned former attorney...

Alabama Gets Its Own Insurance Information Service

Many of Alabama's personal and commercial lines insurers have established the Alabama Insurance Information Service (AIIS), a...

Mississippi Judge Asks Court to Restore His Immunity

A Mississippi judge is asking a federal appeals court to restore his immunity from being sued over claims that he knowingly making false...

Drunk Driving Arrests Up, Fatalities Down in Mississippi

DUI arrests have skyrocketed in Mississippi in the past several years, helping lead to the lowest number of drunken driving deaths in...
Texas / South Central

Louisana AG Disputes BP Fund's Push for Claimant Release of Rights

In a letter dated Nov. 17, 2010, Louisiana Attorney General Buddy Caldwell challenged provisions of the Gulf Coast Claims Facility (GCCF)...

Teitell Elected President of Texas Surplus Lines Assoc.

Todd Teitell, executive vice president and branch leader of AmWINS Brokerage of Texas in Dallas, has been elected president of the Texas...

Texas Driver Records Now Available Instantly Online

The Texas Department of Public Safety announced that Texas drivers can now order their driving records online and print them out immediately...
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West

Calif. Regulators Announce 2011 Workers' Comp Assessment Rates

The California Department of Industrial Relations (DIR) has calculated the 2011 assessments that state law requires workers' compensation...

Washington Regulator Wants to Review Insurer Surpluses

Washington Insurance Commissioner Mike Kreidler is asking state lawmakers to preserve his authority to scrutinize health insurance rates,...

Arizona County and FEMA Try to Fix Flood Map Errors

Arizona's Mohave County Flood Control District is working with the Federal Emergency Management Agency to fix errors the county found in...

Calif. State Fund Names Clark Chief Operating Officer

California's State Compensation Insurance Fund has named Tom D. Clark as its chief operating officer. Clark, who assumes his new role on...

Colorado Insurance Commissioner Morrison Steps Down

Colorado Department of Regulatory Agencies Executive Director Barbara Kelley announced the departure of Marcy Morrison as Colorado Insurance...
International

Catastrophes Cost World $222 Billion in 2010: Swiss Re

According to initial estimates from Swiss Re's sigma research team, worldwide economic losses from natural catastrophes and man-made...

US Sees Progress in Easing Climate Change Row with China

Washington claimed progress Monday in easing rifts with Beijing on ways to fight global warming as U.N. climate talks got under way in...

AXA Sues ING in New York over 2008 Mexican Insurance Sale

A unit of French insurer AXA has sued an arm of Dutch insurer ING in New York state court, alleging ING misrepresented the financial health...

DIMA Clarifies S&P Ratings Bulletin on Ireland Debt, Re/insurers

Dublin International Insurance & Management Association (DIMA), the representative body for the international re/insurance industry in...

Best Affirms 'A' Ratings of NIPPONKOA Insurance Company

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a+" of Japan's NIPPONKOA Insurance...
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