Dec 6, 2010

Daily Headlines: Monday, December 6, 2010

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Insurance Journal Daily Headlines
December 6, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

P/C Insurers, Reinsurers Put Positive Spin on Federal Regulatory Role

The federal government's new role in insurance regulation poses significant challenges and opportunities for the insurance industry,...

Two Charged in 6-Year Fraud Scheme Against Insurance Agent Group, MDRT

Bond has been set at $1 million for two Illinois men charged with bilking an insurance industry association out of more than $1 million in a...

Supreme Court to Hear Wal-Mart Sex-Bias Class Action Certification

The U.S. Supreme Court said Monday it would decide if the largest sex-discrimination class-action lawsuit in U.S. history against Wal-Mart...

Risk of Cyber Attacks Should Be Board-Level Concern, Lloyd's Says

Digital risks must be a board-level concern for business as the range, frequency and scale of cyber attacks increases, according to a new...

AIA Endorses Korea-U.S. Trade Pact

The American Insurance Association (AIA) has commended the United States and Korean governments for successfully reaching agreement on the...

Consumer Product Safety Agency Working on Football Helmets

The head of the Consumer Product Safety Commission told Congress last week that her agency is working to improve the safety of football...

Travelers Expands IndustryEdge Offering for Equipment Dealers

Travelers has introduced IndustryEdge for Equipment Dealers that provides custom-designed coverage to help protect against the unique risks...

Lexington Introduces Spoliation Insurance

Lexington Insurance Co., a Chartis company, has introduced spoliation insurance, which is designed to protect against claims arising from...

From MyNewMarkets.com Markets in Motion: Management Liability Coverage

Management liability programs, which include employment practices liability, directors and officers liability, and errors & omissions...
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East

Amish Expansion Prompts Culture Clash in Roofing

Main Line roofers say they are taking it on the chin from Amish competitors, who are getting a significant amount of work in Philadelphia's...

Ex-Superintendent Dinallo Joins New York Law Firm

Eric Dinallo, former superintendent of the New York Insurance Department, is joining the law firm Debevoise & Plimpton as a...

Mavraganis to Head Marsh's Renewable Energy Business

Insurance broker Marsh appointed Peter Mavraganis as U.S. leader of its renewable energy practice. Mavraganis, based in New York, will...
Midwest

Reward Offered in Killing of Michigan Insurance Agent 3 Years Ago

Three years after insurance agent Janna Kelly went missing, friends are hoping a $50,000 reward will help solve the mystery of who abducted...

Fremont Michigan Gets $7 Million Credit Line

Fremont Michigan InsuraCorp, Inc. said it has closed on a $7 million unsecured line of credit with The Huntington National Bank. The company...
Southeast

Alabama Court Rules Story of Rumor with Denial Can Be Libelous

An Alabama appeals court has ruled that a false and defamatory published statement can be libelous even if it accurately quotes a person...

BP Settles Damage Claim by Alabama Condo Developer for $37 Milllion

A major developer on the Alabama coast will receive $37.2 million from oil giant BP to settle claims over the impact the Gulf of Mexico oil...

Mississippi State Football Game Victim of Cowbell Assault Sues

A man involved in an incident last year in which he was hit with a cowbell at a Mississippi State football game has sued his alleged...
Texas / South Central

Texas Supreme Court Declines to Review Workers' Comp Stop-Loss Case

The Texas Supreme Court has put an end to a case involving the amount some hospitals marked up workers' compensation-related bills under...

Equity Risk Partners-Texas Adds Viracola to Managment Team

Dallas-based Equity Risk Partners-Texas (ERP-Texas) has appointed Michael T. Viracola as director of Business Development. ERP-Texas was...
West

Washington Proposes Online Insurance Licensing Rules

Washington's Office of the Insurance Commissioner has proposed rules to establish electronic licensing submission rules for insurance...

Risk Strategies Completes Merger Of Cohn-Reid-O'Neill Insurance Services

Risk Strategies Co. (RSC), a national insurance brokerage and risk management firm based in Boston, has completed the merger of...

Wyoming Aims to Improve Crane Safety

Wyoming's Workers' Safety & Compensation Division has proposed changes to update and revise standards for cranes and derricks, based on...
International

Aon Benfield Cat Report for November Highlights Cold and Floods

In its latest monthly assessment of the world's catastrophes for November Aon Benfield highlights the first winter weather event of the...

Continental, Mechanic Found Guilty in Concorde Crash Trial

A French court on Monday found Continental Airlines and a mechanic at the airline guilty of involuntary manslaughter for their role in the...

U.S., South Korea Welcome Long-awaited Free Trade Deal

The United States and South Korea welcomed a free trade deal reached after a three-year delay which U.S. President Barack Obama said would...

Aon Names West to Head UK Business Continuity Practice

Aon announced that Vincent West has joined Aon Risk Solutions', its global risk management business, Risk Consulting team in the UK to "head...

S&P Withdraws GenRe UK's Ratings After Restructuring

Standard & Poor's Ratings Services has withdrawn its 'AA+' counterparty credit and financial strength ratings on General Reinsurance UK...

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LexisNexis Insurance Exchange 2: Privacy, Security Issues

The Council of Insurance Agents and Brokers, LexisNexis, key agencies and a variety of...

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New Discussions in the Forums

SIAA vs. Cluster?
Posted: Sat Dec 4 -- Can't comment on clusters, and I wouldn't say that SIAA the right answer for all agencies, though larger agencies that don't want to acquire... Steley123
Commission Splits
Posted: Sat Dec 4 -- I have made it a policy to always be willing to trade value for value. Quantifying reciprocal value will typically answer the question. That... Steley123
Agency Management System
Posted: Sat Dec 4 -- Whatever choice is made, consider the prevailing trend in information systems. Desktop and server based systems are rapidly being replaced... Steley123
Comp West restaurant
Posted: Fri Dec 3 -- Well it was a deal that I could not beat last year. Im hoping you are right about their increases. I have a couple of nice deals in the... JAM
Pay As You Go rating
Posted: Fri Dec 3 -- So CA has approved PAYG rating? Are they insane? We all know that credit profiling is the ONLY guaranteed way to determine loss potential.... darnovak
Privacy Law situation
Posted: Fri Dec 3 -- The NY Big I to the rescue (IIABNY): [summarized] As per the federal Drivers Privacy Protection Act, driving infractions stated on an MVR... darnovak

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