Dec 31, 2010

Daily Headlines: Friday, December 31, 2010

Insurance Journal Daily Headlines
December 31, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

2010 Was Year of 20 Million Recalls for Car Makers

Automakers recalled about 20 million vehicles in 2010, led by high-profile recalls by Toyota that prompted new scrutiny of the auto...

Obesity Increases the Risk of Disabling Workplace Injuries

Recent research confirms anecdotal data that work-related injuries are far more costly if an injured worker is obese. In fact, a claim with...

Test Your 2010 Insurance News IQ: 25 Questions

Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page--...

Ratings Recap: Meadowbrook, C.P.A.

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A-' (Excellent) and issuer credit ratings (ICR) of "a-" of Meadowbrook...

Miller, Shoemaker Join InVEST Board

InVEST, the insurance industry program that brings insurance education to classrooms, has appointed Peter Miller and Loren P. Shoemaker to...

From MyNewMarkets.com Top Brokers, Munich Re Pool Efforts to Expand Insurance for Oil Drilling

The world's top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling...
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East

Six Keys to Harleysville's Turnaround

Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year...

Liberty Mutual Paying $7.5M to Settle Bid-Rigging Charges

Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered...

Report: Massachusetts Blast Not the Fault of Gas Company

State fire investigators have concluded that a fatal explosion at a condominium project last summer was not the result of the delivery of...

Maine Governor Seeks Disaster Assessment from Storm

Maine Gov. John Baldacci is requesting a damage assessment for the torrential rainstorm that deluged eastern Maine earlier this month. The...
Midwest

Steak n Shake Increases Its Bid for Fremont Michigan InsuraCorp

Texas-based Biglari Holdings Inc., parent company of the Steak n Shake restaurants, has increased its proposal to acquire 100 percent of the...

Guggenheim to Reinsure Standard Life of Indiana in Reorganization

Indiana Insurance Commissioner Stephen W. Robertson announced that Guggenheim Life and Annuity Co. will reinsure policies originally issued...

Indiana Gov., Lawmakers Eyeing Bank Insurance Fund as Revenue Source

Gov. Mitch Daniels and Indiana lawmakers preparing to craft the state's next two-year budget are eyeing an obscure bank insurance fund as a...
Southeast

Inspectors Find 2 Tennessee Dams in Need of Repair

State inspectors have found two privately owned hazardous dams in Tennessee that are in need of immediate repair, including one that the...

Clearwater Police Adopt License Plate Screening Cameras

A Tampa Bay-area police department is the latest to buy into new technology that uses cameras to scan license plates and checks the numbers...

North Carolina Jeweler Loses Bet Against a White Christmas

A North Carolina jewelry store owner made a $400,000 bet against a white Christmas -- and lost. Alan Perry, owner of Perry's Emporium in...

South Carolina Highway Deaths Doubled Over Christmas Holiday

South Carolina authorities say winter weather contributed to twice as many deaths on the state's roadways over Christmas weekend this...

Poisson to Lead New Atlanta Office for ISU Agency Network

The ISU Agency Network has added a Southeast regional office in Atlanta. The office will be lead by Gary Poisson, who will manage the...
Texas / South Central

Federal Audit Rips Spending for Texas Hurricane Cleanup

A scathing audit by the federal Department of Homeland Security questions whether some $45 million in public money was properly spent to...

Texas AG Recovers $65M from Pharmaceutical Company

Mylan Laboratories Inc. has agreed to pay $65 million to state, federal authorities as a result of an agreement with Texas Attorney General...
West

Idaho Workers' Comp Insurance Rates To Increase 3.7%

Idaho workers' compensation insurance rates will be increasing an average of 3.7 percent in 2011, according to the state Department of...

Calif. Regulator Urges Gov.-Elect Brown to Preserve Workers' Comp Reforms

Calif. Insurance Commissioner Steve Poizner announced he has sent a letter to Gov.-Elect Jerry Brown to urge him to preserve the workers'...
International

2011 Outlook: Too Much Capacity + Stagnant Demand = a Soft Market

A quick, and as yet incomplete, survey of re/insurance industry leaders indicates that the main concern they will have to deal with in the...

Willis Re: Overcapacity Keeps Renewal Rates in Reinsurance Down

"Overcapitalization in the reinsurance market continues to gradually push rates downwards with price reductions at the January 1, 2011...

U.S. Analyst: China May Be 'Likely Bright Spot' in Asia Climate Action

The outcome of U.N. climate talks in Mexico this month should boost steps in Asia to curb greenhouse gas emissions, with China a likely...

Best Affirms Mitsui Sumitomo Insurance 'A+ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and the issuer credit rating (ICR) of "aa" of Mitsui...

Best Assigns 'A' Rating to Swiss-based Catlin Re

A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of 'A' (Excellent) and an issuer credit rating...
Insurance Journal Blogs

The close of 2010

Merry Christmas to all of you. I hope you are blessedwith good health, happiness and the spirit of giving in 2011. David Connolly

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New Discussions in the Forums

Farmers E & O vs. UFAA
Posted: Fri Dec 31 -- Something FIG agents should consider- Recently I was talking to a FIG agent that is involved in an E&O claim. The claim is bogus but still... sacman
Farmers Insurance
Posted: Fri Dec 31 -- "It depends on what state you are in. Seems like they want to lose the captive agents in some states but not in others.... salescount
Farmers Refuses to Pay Botched Auto Repair
Posted: Thu Dec 30 -- Mica, I agree that it is an unfortunate situation that the agent referred you to the shop, I'm just not sure there is any liability in doing... sacman
Co-signer for Auto Loan
Posted: Thu Dec 30 -- Forum Reader is exactly right, but the origianl question states that the father is a registered owner. If the father is only a co-BORROWER... sacman
CPCU 510 woes
Posted: Wed Dec 29 -- I just am looking to sign up for a 510 test in January or February of 2011. I see they changed the CPCU 510 course with the CPCU 500 course.... tbob2985

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