Nov 10, 2010

Daily Headlines: Wednesday, November 10, 2010

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Insurance Journal Daily Headlines
November 10, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Big Oil Firms Need Top-to-Bottom Safety Reform, Says Commission

Complacency at BP, as well as at Transocean Ltd and Halliburton, led to serious missteps prior to the rig explosion that unleashed millions...

Hyatt Calls Injured Workers' Claims a Union Ploy

Union-represented housekeepers filed injury complaints against Hyatt Hotels Corp. properties in eight U.S. cities Tuesday, but the company...

Towers Watson to Buy Insurance Consultant, Software Firm EMB

Professional services company Towers Watson will buy insurance consulting and software company EMB to expand its offerings to property and...

Allstate, Prudential Return Cash to Investors

Insurers Allstate Corp. and Prudential Financial announced plans to return cash to shareholders Tuesday with a stock buyback plan and...

Chartis to Layoff 2% of Workforce

Global property/casualty insurer Chartis Inc. says it is in the process of laying off about two percent of its workforce as part of a...

S&P Raises ProAssurance Rating One Notch to 'BBB'; Outlook Stable

Standard & Poor's Ratings Services has raised its counterparty credit rating on ProAssurance Corp. to 'BBB' from 'BBB-' with a stable...

Markel International Expands D&O Product Offerings

Specialty insurer Markel International has broadened its suite of products for directors and officers with the launch of three new products....

Appel to Leave Aon

Aon Corp. reported that Andrew Appel, the firm's chief operating officer, will be leaving the company at the end of the year. The company...

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

Workers' Compensation Fees Would Cost New York Drivers, Insurers Warn

Proposed 30 percent increases in what medical providers in New York are paid for treating workers' compensation injuries could have...

Judge Limits D.C. Metro's Liability in Fatal Crash

A judge has limited the potential liability of the public transit agency in the District of Columbia in a suit brought by survivors of those...

Mina Named Managing Partner for Willis of Maryland

John Mina has been appointed managing partner at Willis of Maryland, Inc. Mina will be responsible for business development for Willis'...

Provider Hires Cardoso as Personal Lines Account Manager

Massachusetts agency Provider Insurance has hired Sharon Cardoso as personal lines account manager. She will be responsible for acquiring...

Schenk Named Marketing VP for Keystone

Pennsylvania-based Keystone Insurers Group named Elizabeth Schenk as vice president of sales and marketing. She is a 22-year insurance...

Hayes Joins NSM Insurance to Head Staffing Program

Michael Hayes will join Pennsylvania's NSM Insurance Group as the director of its Staffing Lines Program. The program serves the staffing...
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Midwest

Westfield Insurance Gives $20K in Arson-Fighting Gear to Ohio City

An Ohio-based insurance company is donating more than $20,000 worth of arson investigation gear to Toledo, which has seen a rash of vacant...

Michigan's Accident Fund Honored by Lansing Regional Chamber

Lansing, Mich.-based workers compensation insurer Accident Fund Insurance Co. of America, was one of four Lansing-area businesses recently...
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Southeast

Allstate to Fight Denial of Mississippi Rate Hike

Allstate Property and Casualty Insurance Co. wants a public hearing on the Mississippi Insurance Commissioner Mike Chaney's denial of its...

Myrtle Beach Suing Hotels for Risking City's Flood Insurance Coverage

The city of Myrtle Beach is suing 11 hotels to make them remove their swimming pool enclosures. The Sun News of Myrtle Beach reported the...

BP Says It Has Paid Alabama $657 Million So Far for Disaster Recovery

Oil giant BP says it has paid more than $657 million for grants, claims and recovery costs in Alabama from the oil spill in the Gulf of...
Texas / South Central

Late Filings of Surplus Lines Policies Draw Fines in Texas

If enforcement actions taken by the Texas Department of Insurance this year in response to late filing of surplus lines insurance policies...

IMA of Texas Hires 3 Business Development Leaders

IMA of Texas Inc., a retail insurance broker and risk management firm based in Dallas, has added three new directors of client service. Drew...

Diaz Joins JDW Insurance Staff in El Paso

W. Martin Yung, president of El Paso, Texas-based insurance brokerage and risk management firm JDW Insurance, announced that Rene Luis Diaz...
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West

Washington Wants to Raise Workers' Comp Rates 12%

Washington's Department of Labor & Industries (L&I) has announced a 12 percent average increase in workers' compensation insurance...

Calif. Commissioner Sues to Stop Insurers From Investing in Iran

California Insurance Commissioner Steve Poizner has announced he is filing a lawsuit challenging a California Office of Administrative Law...

Barney & Barney's Principal Trask Named 'Volunteer of the Year'

John Trask, a principal in the Employee Benefits department of Barney & Barney LLC, has been recognized for his contributions to the...

GCube Insurance Services Names Eisenstsat VP

Newport Beach, Calif.-based GCube Insurance Services Inc., an insurer of renewable energy technologies, announced that Sara Eisenstat has...
International

ING Plans Europe, U.S. Insurance IPOs

Dutch bancassurance group ING said on Wednesday it planned two initial public offerings, rather than one, for its insurance activities as...

Allianz Posts Strong Q3 Growth; Operating Profit up 2.3% at $2.9 Billion

Germany's Allianz Group announced strong results for the third quarter and confirmed its operating profit outlook for 2010. Revenues in the...

Aon Finds Business Interruption Demand Grows, but Insurers Back Off

Aon came up with the conclusion that although recent events have "increased demand and enquiries for business interruption insurance," there...

Willis' FINEX Appoints D&O, Professional Liability Lawyer as Director

Willis Group Holdings announced that it has appointed Francis Kean, "one of the UK's leading directors & officers and professional...

Best Affirms Hiscox Operating Companies 'A' Ratings; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit...

Best Affirms Lloyd's Syndicate 33 (Hiscox) 'A' Ratings; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the Best's Syndicate Rating of 'A' (Excellent) and issuer credit rating (ICR)...
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Markets in Motion: Environmental Liability Coverage

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New Discussions in the Forums

Superior Access Commission Payments
Posted: Wed Nov 10 -- Does anyone else have a hard time getting commission payments from Superior Access? It seems like it takes at least 60 days to get payment... joey52
Advice on purchasing a small agency in California
Posted: Wed Nov 10 -- I have a friend, in California, who has become ill and can no longer operate his agency and I have offered to purchase the agency from his... bartman
Mobile Acords - Survey
Posted: Wed Nov 10 -- ACORD licenses their forms to all sorts of third parties, and not just AMS and applied. I pay $20 a month for access to cloud based ACORD... waltmarkers
GA's binding responsibility
Posted: Tue Nov 9 -- E&S brokers work with both binding authority and brokerage markets. So if you wrote an account with say, Lexington Insurance Company, they... INTLXS
Done with CPCU 510 & 540, which one next???
Posted: Tue Nov 9 -- There have been some changes to the program since I posted last. The 560 is no longer a required course. There are a handful of electives... susqugirl

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November 1, 2010

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