Dec 28, 2010

Daily Headlines: Tuesday, December 28, 2010

Insurance Journal Daily Headlines
December 28, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

AIG, Chartis Sign $4.3 Billion Credit Agreements

Bailed-out insurer American International Group took another step toward winding down its U.S. government support Monday by securing $4.3...

New Year's Day Top Working Holiday for Car Thieves

While Americans are enjoying the holidays and most have time off from work, holidays are just another day at the shop for vehicle...

Inspections Reducing Mine Safety Violations: U.S. Official

Conducting special inspections to crack down on mines with poor safety records appears to be working, the federal Mine Safety and Health...

Best Affirms Transatlantic Holdings and Subs 'A' Ratings of

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

Ratings Recap: Allianz Global (US), Balboa Group, North Light, Heritage

A.M. Best Co. has affirmed the financial strength rating of 'A+' (Superior) and issuer credit ratings of "aa" of Allianz Global Corporate...

From MyNewMarkets.com Top 5 Things Affecting Excess & Surplus Market in 2011

It has been a challenging few years for those in the excess and surplus (E&S) lines insurance market. An endless soft market, extreme...
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East

New York City Ponders Benefits of Pay As You Drive Insurance

New York City is considering whether pay-as-you-drive auto insurance could reduce congestion and pollution in the Big Apple. The city's...

Contractor's Blow Torch Starts $2M Fire at D.C. School

Interim D.C. Schools Chancellor Kaya Henderson says damage to a northwest Washington school is severe after a three-alarm fire, and plans...

Massachusetts Man Pleads Guilty in Fatal Staged Accident

A former Lawrence, Massachusetts man who participated in a staged car crash that took the life of a 65-year-old grandmother has been...

People's United Merges Its Insurance Agencies

Connecticut-based People's United Bank said it will combine all of its insurance agencies into a single business entity — People's...
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Midwest

Michigan Township's Fight Over Cottage Costs Insurer, Taxpayers

The resistance by one community in Michigan's rural Thumb to a couple's plans to renovate the Lake Huron shoreline cottage has led to an...

Missouri Bank Sues Over Hacker

A Springfield, Missouri escrow company has filed a lawsuit against BancorpSouth Bank, accusing the bank of failing to prevent a hacker from...
Southeast

Rates Rising But Florida Home Insurers Report Still Losing Money

Many Florida homeowners expected relief from the higher property insurance bills that followed the busy 2004 and 2005 hurricane seasons. But...

Another Freeze Hits Florida Citrus Growers

An overnight freeze hit several central Florida citrus growing areas, icing up fruit and raising fears of damage to the leaves and small...

Gay Miner Suing Massey West Virgina Unit Charges Harassment

A gay coal miner is suing a Massey Energy Co. subsidiary, charging that management didn't protect him from abusive co-workers. The lawsuit...

Brown & Brown Acquires Florida's Comcover Insurance

Insurance broker Brown & Brown of Florida Inc. has agreed to buy to buy substantially all of the assets of Comcover Insurance Group...
Texas / South Central

Mistrial Ruled After Arkansas Doctor Accused of Malpractice Treats Juror

An Arkansas medical malpractice lawsuit ended in mistrial in federal court in Jonesboro when the doctor being sued treated an ill juror in...
West

2010's Top Insurance Stories in the West

In 2009, independent insurance agents and brokers faced a "perfect storm" with the economic downturn, premiums at a fraction of what they...

California Storms Cause $10M in Damage; More Rain on Way

The rains and snows that socked California for a week have eased for now but another storm is on its way. The National Weather Service said...

Rowe Joins Gallagher Benefit Services of Washington

Gallagher Benefit Services of Washington has added David S. Rowe to its Retirement Services consulting practice. Rowe brings more than 20...
International

FACTBOX: 25 Ships and Crews Still Held by Somali Pirates

Somali pirates have released the Marida Marguerite, a German-operated chemical tanker after receiving a $5.5 million ransom, the Kenya-based...

Chartis Obtains $450 Million Cat Bond with Lodestone Re

Chartis announced that it has entered into a reinsurance transaction with Lodestone Re, which will provide $450 million of protection to...

Japan's Dai-ichi Life to Take over Australia's Tower Group for $1.2 Billion

Japan's Dai-ichi Life Insurance Co said it would buy the shares it does not already own in Tower Australia Group Ltd for 99.6 billion yen...

Best Europe Affirms 'A' Ratings of HDI, Gerling, Talanx Companies

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

Ratings Roudup: PMG (Sony), Qatar General, Al Ittihad

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

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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

Professional Employer Organization
Posted: Tue Dec 28 -- Much will depend upon what classes of business this PEO handles, along with what REAL loss control and other claims mitigating services they... Big Dog
Farmers Refuses to Pay Botched Auto Repair
Posted: Mon Dec 27 -- If the body shop did a bad job, shouldnt you go after them instead of Farmers? Many carriers only guaranttee the works done in their... wariline
Farmers E & O vs. UFAA
Posted: Mon Dec 27 -- The argument they are giving is this.It would seem reasonable to the average person that if FGI knew that agents' folios would be short... Barnaby

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