Dec 1, 2010

Daily Headlines: Wednesday, December 1, 2010

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Insurance Journal Daily Headlines
December 1, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Federal Judge Dismisses Challenge to Obama Health Care Law

A federal judge in Virginia Tuesday dismissed a lawsuit challenging the landmark healthcare law championed by President Barack Obama,...

Nearly 20% of Drivers in Fatal Crashes Test Positive for Drugs: Report

About 1 in 5 drivers who were killed last year in car crashes tested positive for drugs, raising concerns about the impact of drugs on auto...

How BP's Gulf Oil Disaster Costs Could Double

Analysts' dividend forecasts point to steady recovery BP, analysts, may be underestimating legal charges BP has history of low-balling...

New Web Site Calculates Diminished Car Value for Consumers

The people who launched TheyWroteOffMyCar.com are at it again with a new Web site service called MyCarIsWorthLess.com. That's worth less,...

E&O Insights: Nothing Standard About Professional Liability

Typically, when looking to move an account from one carrier to another, you can count on some degree of similarity in policy forms. For the...

United Fire Acquiring Mercer Insurance Group

Iowa-based insurer United Fire & Casualty will acquire New Jersey-based Mercer Insurance Group in a deal valued at $191 million The...

RLI Creates New Professional Services Group

RLI Corp. has created a new Professional Services Group to expand its capabilities within the professional services market. The new group,...

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East

Prosecutors: Friends Killed Rhode Island Man for Insurance Settlement

Two Fall River men accused of killing and robbing their friend have been ordered held without bail. Charles Mendez and Tacoma Massie pleaded...

New York Dinner for Insurance Charitable Fund Tops $1 Million

The Insurance Industry Charitable Foundation (IICF) New York division has surpassed the $1 million mark for ticket sales for its 2010...

Michel Joins Marsh's Global Rail Practice

Insurance broker Marsh appointed James N. Michel as a senior vice president in its Global Rail Practice. Michel, who will be based in...
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Midwest

Group Says Canadian Firm Unprepared for Spill Response in Midwest

A lack of equipment and personnel has left TransCanada unprepared to deal with a major spill of crude oil on its Keystone pipeline system,...

A.M. Best Upgrades Wisconsin's 1st Auto & Casualty Insurance Co.

A.M. Best Co. has upgraded the financial strength rating (FSR) to B++ (Good) from B+ (Good) and issuer credit rating (ICR) to "bbb" from...
Southeast

Tennessee Gets $7 Million for Flooded Home Buyouts

U.S. Rep. Jim Cooper (D-Tenn.) reports that the Federal Emergency Management Agency (FEMA) will provide more than $7 million to Davidson...

Memphis Car Impoundment Lot Battles Theft, Damage Claims

The city of Memphis is upgrading security at the city's car impound lot after paying out more than $72,000 to settle a variety of theft and...
Texas / South Central

Insurer Group Says Louisiana Property Market Shows Signs of Strength

The number of Louisiana property insurance consumers who benefit from the lower rates offered by private insurers is growing as the state's...

Colemont Insurance Changes Name to AmWINS Brokerage of Texas

AmWINS Group announced that effective Dec. 1, the Texas operations of Colemont Insurance Brokers has been officially renamed AmWINS...

Goss Re Adds Conrad as Partner

Goss Reinsurance Brokers LLC, a privately owned reinsurance intermediary firm headquartered in Dallas, Texas, has added Kirk Conrad as...

Study: Arkansas Ranks High in Road Safety Improvements

A national study indicates Arkansas ranks second nationally in advancing its road safety laws during the past two years. The national...
West

Laurus Insurance Consulting Opens in Lincoln

Casey Roberts has opened Laurus Insurance Consulting in Lincoln, Calif. As principal and founder of Laurus, Roberts expects to serve fellow...
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International

Euro Crisis Worries Spread; U.S. to Send Treasury Envoy

Global concern about the debt crisis rocking the euro zone mounted on Wednesday, with Washington sending a top U.S. Treasury envoy to Europe...

European Storm Season Starts, But Forecasts are Difficult, Says Lloyd's

The world really gets no respite from global weather events. Just as the hurricane season draws to a close, the European windstorm season,...

Marsh Launches Comprehensive Political Risk Facility

Marsh has launched its innovative Mobile Asset and Commodity Expropriation (MACE) insurance facility, which, it said will "meet the...

Best Revises Aviva and Subs Outlook to Positive; Affirms Ratings

A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable and affirmed the issuer credit rating (ICR)...
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New Discussions in the Forums

Comp West restaurant
Posted: Tue Nov 30 -- What comp companies in CA have a product that is competitive with Comp West for restaurants? thanks JAM
Sequoia Insurance
Posted: Tue Nov 30 -- You just made my day. We are in CA and just had a broker come to us after terminating their contract with NIA due to non payments and... CIScommercial
Insurance rating software
Posted: Wed Nov 24 -- Quomation comparative rater - a California broker's review price: $199 set-up +$125 / monthly for a total of $324.00 start up fees. summary:... mccloud55
Umbrella underlying limits
Posted: Mon Nov 22 -- ladybroker, you are correct. Technically it is not a SIR in the context of the policy and I should have clarified further. My point was that... azcompanyman
State Farm Commission Structure
Posted: Mon Nov 22 -- There are different structures they can use for new agents. It varies with the number of policies they start you off with. If you are taking... magazine

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