Dec 16, 2010

Daily Headlines: Thursday, December 16, 2010

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Insurance Journal Daily Headlines
December 16, 2010
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Today's Headlines

National

Senate Passes Tax Cut Plan, 81-19

A deal that President Barack Obama struck with Republicans to extend expiring tax cuts for nearly every working American and spur job growth...

U.S. Sues BP, Well Owners, Driller, Insurer for Gulf Oil Spill Damages

The Obama administration Wednesday launched a legal battle against BP Plc and its partners by suing them for the worst offshore oil spill in...

Summary and Status of Gulf Oil Disaster Litigation

The U.S. Department of Justice has joined the hundreds of lawsuits that have been filed as a result of the Gulf of Mexico oil spill, the...

Suspicious Claims Rose 12% in Q3, Insurers Report

Questionable property/casualty insurance claims rose 12 percent in the third quarter over last year, according to the latest reports from...

Best Affirms Allstate and Subsidiaries 'A+' Ratings; Outlook Stable

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

Ironshore Specialty Increases Capacity, Updates Coverage for Public Entities

Ironshore Specialty Casualty, a unit of Ironshore Inc., has announced additional capacity for its Public Entity product. Effective...

Greenfield Named Executive Vice President at The Hanover

Massachusetts-based insurer The Hanover has appointed David B. Greenfield as executive vice president and senior finance officer. Greenfield...

CNA Names Grieco Underwriting VP for Small Business

CNA appointed Scott Grieco as vice president of underwriting for its small business unit. Grieco will be lead underwriting strategies for...

From MyNewMarkets.com Seniors in Assisted Living Facilities Lack Personal Liabilty Insurance, New Product Fills Gap

Senior citizens have a lot to worry about but perhaps one of the most stressful worries they face is the loss of independence. For some...
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East

Car Malfunction Sparks Delaware Blaze, Causes $800K in Damage

The state Fire Marshal's office says an unknown malfunction in the engine compartment of a car parked under a house sparked a fire that...

New Jersey Jury Convicts Man in Bogus Insurance Scheme

A federal jury in New Jersey has found a California man guilty of selling bogus liability insurance policies. The jury returned its verdict...

Markel Acquires RD Holdings

Markel Ventures, the investment arm of Virginia-based specialty insurer Markel, has acquired a majority interest in RD Holdings, a private...

Russell Bond Promotes Smith

New York-based wholesaler Russell Bond & Co. has promoted Richard Smith Jr. to Renewal Underwriter. He will underwrite for the firm's...
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Midwest

Missouri Recommends 11% Drop in Workers' Comp Insurance Rates

After reviewing statewide data for insurance claims paid by employers for injured workers in 2010, the Missouri Department of Insurance is...

Aon Launches Public Entity Practice

Chicago-based Aon Risk Solutions, the global risk management business of Aon Corp. has launched a public entity practice to address and work...

Madison Ranked Safest Metropolitan Area to Live

Madison, Wis., is the most secure U.S. community among large metropolitan areas (population of 500,000 or greater) according to the seventh...

Willis Appoints Baechle as SVP of Illinois Surety Practice

Mark Baechle has been appointed senior vice president of Willis of Illinois Inc.'s Surety Practice, effective immediately. He will be...
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Southeast

Georgia Supreme Court Upholds Insurers in 2 Uninsured Motorist Cases

The Supreme Court of Georgia has ruled in favor of insurance companies in two cases involving how much people injured in car wrecks should...

Florida Citrus Growers Get Break After Bitter Cold

Florida's citrus growers got a respite Thursday from the bitter cold that damaged oranges and groves in many areas Tuesday night into...

Georgia Regulator Ignored Licensing Requirements, Judge Rules

A Fulton County judge has ruled that Georgia Insurance Commissioner John Oxendine disregarded application requirements when awarding...

Progressive Insurance Signs On As Sponsor for Gator Bowl

Progressive insurance company has signed a one-year deal to be the title sponsor of the Gator Bowl. The deal includes an option for three...

Hogan Joins South Carolina's Canal Insurance

Commercial trucking insurer Canal Insurance Co. in Greenville, S.C. announced that Timothy J. Hogan has joined the company as chief...
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Texas / South Central

Allstate Raises Homeowner Insurance Rates

Allstate Insurance has notified the Texas Department of Insurance that it will increase homeowner rates -- some by almost 10 percent. About...
West

Court: Last Employer Responsible for Asbestos Exposure

A shipyard carpenter's last employer is liable for his asbestos exposure when it is unable to rebut with substantial evidence the...

Poll: Washington Drivers Say 'Bah Humbug' During Holiday Season

'Tis the season to spread holiday cheer, but on the roads this year, Washington drivers admit they say "bah humbug" instead of "ho, ho, ho"...

Hawaii Ranks Low in Emergency Preparedeness

A new study ranks Hawaii's public health emergency preparedness in the bottom half of states, citing in part the inability to adequately...

CompWest Insurance Announces Exclusive Program for Golf and Country Clubs

CompWest Insurance Company has joined with Club Learning Institute (CLI) to provide an exclusive workers' compensation program for golf and...

California and Feds Sign Earthquake Plan

California and federal emergency responders have signed a plan designed to respond to a disastrous earthquake in Southern California. A...
International

Chubb Receives Final Approval for China Branch in Nanjing

The Chubb Corporation announced that the China Insurance Regulatory Commission (CIRC) has granted final approval to Chubb Insurance (China)...

Europe's PERILS Data used in over $1 Billion Worth of Insurance Placements

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, announced that total placements...

BrokersLink Appoints Bitner Latin America COO

BrokersLink, one of the world's largest independent insurance broker alliances, has appointed Paul Bitner as Latin America Chief Operating...

Ratings Roundup: NIPPONKOA (Asia), Aspen (Notes), Asia Capital

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of Hong Kong-based NIPPONKOA...
Insurance Journal Blogs

Planning to win in 2011

The end of 2010 is fast approaching, good luck, good health, and good fortune to all of you in 2011. Sales managers and principals; By now,...

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5 Tips to Break the Holiday Sales Slump

The end of the year sometimes brings a sales slowdown to insurance agencies. Want help to bust...

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New Discussions in the Forums

Credit cards for commercial
Posted: Wed Dec 15 -- As mentioned in the prior comment, traditionally it has be very hard for an agency to justify the charges incurred when accepting a CC for... SteveAnderson
TX - Wind Coverage for Galveston County
Posted: Tue Dec 14 -- Any carriers out there? okt0ber
Encompass VS. Kemper
Posted: Mon Dec 13 -- Can't comment on Encompass. The new Kemper (Unitrin company) is a preferred carrier here in Calif. Their approach is focusing on package... wariline
Commercial vs Personal CPCU
Posted: Mon Dec 13 -- It depends on what's your planned carrer path. Assuming you're a producer or CSR, I'd say go commercial if your personal & commercial split... wariline
Ex-Dates
Posted: Mon Dec 13 -- "Jimmy, Was wondering if you could give us an update on the program you mentioned now that it's well over a year... jimmyr1978

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