Dec 22, 2010

Daily Headlines: Wednesday, December 22, 2010

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Insurance Journal Daily Headlines
December 22, 2010
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Today's Headlines

National

SPECIAL REUTERS REPORT: Inside AIG's Tortuous Turnaround

During a rainstorm in Washington in early 2009, amid the furor over Wall Street's post-bailout bonuses, an American International Group...

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...

Health Insurers Face New Scrutiny Over Price Hikes

U.S. health insurance companies that want to increase premiums by 10 percent or more next year would face tougher government scrutiny under...

New York Suit Accuses Ernst & Young of Hiding Lehman Troubles

Accounting firm Ernst & Young was sued by New York prosecutors over allegations it helped to hide Lehman Brothers' financial problems,...

President Obama Expected to Sign Food Safety Overhaul Bill

The ailing U.S. food safety system moved closer Tuesday toward its biggest overhaul in more than 70 years after the House passed legislation...

12 Days of Riskmas: An Insurance Broker's Story

In giving her Christmas gifts for 12 straight days, a true love inspires his girlfriend to build a whole new life. It's a joyful story for...

Industry Saw Profits Rise Through First Three Quarters of Year

Property casualty insurers had a healthy growth level in after-tax profits, which stood at $26.7 billion through the first nine months of...

Big "I" Markets and ARMR.Network Launch New Environmental Product

The Independent Agents & Brokers of America Big "I" Markets launched a new insurance policy option with American Risk Management...

From MyNewMarkets.com Arthur J. Gallagher Buys Wholesale Broker Continental, Marmorstein

Arthur J. Gallagher & Co. said it has acquired wholesale insurance broker Continental Excess & Surplus, Inc., trading as...
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East

Actor Falls on Set of Broadway's 'Spider-Man'

The troubled Broadway musical "Spider-Man: Turn Off the Dark'' was plagued by its fourth accident since it began previews last month when an...

Marsh Agency Buys Pennsylvania's Trion

Marsh's retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States...
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Midwest

Wisconsin Settlement with Time Insurance Co. Includes $280K Fine

Wisconsin Insurance Commissioner Sean Dilweg announced a regulatory settlement with Time Insurance Co., a health insurer headquartered in...

Ohio Teen Driver Law Linked to Drop in Crashes

Nearly four-year-old restrictions on Ohio teen drivers get some of the credit for a drop in accidents on Ohio roads. The state Department of...

Ohio Insurance Director Warns of Catalytic Converter Thefts

Ohio Department of Insurance Director Mary Jo Hudson has issued a warning about a recent rash of catalytic converter thefts in Columbus and...

Ohio Businessman Sentenced for Theft and Workers' Comp Fraud

A Pickaway County medical equipment supplier was sentenced in early December on charges of theft and workers' compensation fraud. Marcus...
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Southeast

Trial Ordered for Tennessee Trooper Claiming Politics Behind Demotion

A federal appeals court has ruled a jury will hear complaints from a Tennessee highway patrolman who claimed discrimination based on his...

Alabama Tornado Survivors Still Coping 10 Years Later

Whitney Crowder doesn't remember the day her father died. What happened Dec. 16, 2000, has gone down in state history: Eleven people,...
Texas / South Central

2 Years After Ike Texas Coastal Residents Still Filing Claims

Windstorm claims from Hurricane Ike continue to be reported more than two years after the storm made landfall. The Texas Windstorm Insurance...

Louisiana Citizens Receives Rating Upgrade

Louisiana Insurance Commissioner Jim Donelon announced that Moody's Investors Service has upgraded the Louisiana Citizens Property Insurance...
International

Zurich Signs Exclusive Distribution Agreement with Fortis for Turkey

Zurich Financial Services Group announced that its Turkish subsidiary Zurich Sigorta A.S. has signed an agreement with Fortis Bank A.S. for...

Catlin Raises Estimates of NZ Quake Losses to $45 Million

Catlin Group Limited announced that, "based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its...

Best Affirms Lloyd's Syndicates 2623, 623, 3623, 3622 Ratings (Beazley)

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

Best Revises Outlook; Affirms Ratings for West of England PI Club

A.M. Best Europe – Rating Services Limited has revised the outlook to negative from stable and affirmed the financial strength rating...

Best Affirms 'A-' Ratings of Flagstone Re and Affiliates

A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit ratings (ICR) of "a-" of Flagstone...
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New Discussions in the Forums

VA Educational benefits for Insurance designations
Posted: Tue Dec 21 -- Hello Everyone, I am looking to apply for designation courses soon. But my question is specific to VA Eduactional benefits for veterans such... quotepro
Farmers Insurance
Posted: Tue Dec 21 -- When you say you, whom do you mean? The Current Agent? Exiting agent? Leaving client? Existing Client? Guess this popped up due to the CEO... FFA
Help pls - need info about property & casualty companies
Posted: Tue Dec 21 -- Hello Pavan: I think I understand a bit better what you are looking for. In the Us P&C refers to Property and Casualty Insurance which is a... bh1950
Encompass VS. Kemper
Posted: Tue Dec 21 -- I'm an Encompass agent. Our agency has represented Encompass for decades dating back to the 1960's and CNA. I serve on their NorthStar Agent... jaspy

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