Dec 8, 2010

Daily Headlines: Wednesday, December 8, 2010

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Insurance Journal Daily Headlines
December 8, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Bankers Expect Tough Year Ahead for Insurance M&A Market

Investment bankers expect another tough year for insurance sector deals in 2011, although there is hope for the M&A market as insurers...

Lawyer Malpractice Claims on the Rise

The economy has taken its toll on all businesses today and law firms are no exception. They have experienced downsizing, pressure to change...

Ho-Ho-Holidays Can Be Problem for Small Businesses

The holiday season isn't necessarily the most joyous time of the year for small businesses. Holiday parties and celebrations can turn...

Online Database to License Surplus Lines Business Under Reform Efforts

One provision under new surplus lines insurance reform legislation was made easier to implement now that a national online producer database...

Women in Professional Liability Gain Support from New Networking Group

Learning to become a leader is essential in the career development of women in the insurance industry, says Pauline Morley, founder of a new...

The Hartford to Offer Insurance Program to American Kennel Club Dog Owners

The Hartford Financial Services Group, Inc. has launched a program that will offer auto and home insurance to American Kennel Club (AKC) dog...

IronBuilt Increases Capacity Limits for Construction Risks

IronBuilt, the specialty construction unit of Ironshore Inc., has increased its limits of up to $25 million in umbrella/excess, wrap-up and...

From MyNewMarkets.com Do Employers Have False Sense of Security About Social Media Coverage?

Many businesses may incorrectly assume they are insured for social media risks but the reality is that insurance policies have not kept up...
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East

Massive Fire Strikes Downtown Baltimore

A five-alarm blaze that broke out in Baltimore's adult-entertainment district on Monday afternoon, spread quickly and sent thick smoke...

New York Prosecutor Faces $75M Defamation Suit

An upstate New York prosecutor who charged a Florida pharmacy in 2007 with selling anabolic steroids to pro athletes and entertainers is...
Midwest

Minnesota's Top Lawyer Sues Discover Over Charges

Minnesota Attorney General Lori Swanson sued Discover on Dec. 6, accusing one of the nation's biggest credit card companies of billing tens...

A.M. Best Downgrades Michigan Commercial Insurance Mutual

A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to "bbb" from "a-" of...
Southeast

Georgia Regulator Goes After Blue Cross 'Favored' Contracts

Georgia's largest health insurer has such a strong hold on the market that hospitals can't make better deals with other insurers, which is...

Florida Insurance Consumer Advocate Shaw Joins Merlin Law Firm

Sean Michael Shaw, who most recently served as Florida's Insurance Consumer Advocate, has joined Merlin Law Group, an advocacy firm for...
Texas / South Central

Bell Named Louisiana's Deputy Commissioner of Minority Affairs

Louisiana Insurance Commissioner Jim Donelon announced that Patrick W. Bell was appointed Deputy Commissioner of Minority Affairs at the...

Nicholas Appointed Insurance Deputy Commissioner in Arkansas

Arkansas Insurance Commissioner Jay Bradford has selected Dr. Lowell Nicholas as Insurance Deputy Commissioner at the Arkansas Insurance...
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West

California Employers See Lower Ex-Mods With New Rating Formula

California employers, by and large, saw lower experience modifications in 2010, thanks to changes to the experience rating formula. On Nov....

Calif. Insurance Regulator Highlights His Achievements

California Insurance Commissioner Steve Poizner has issued a report card highlighting the progress of the Department of Insurance during the...

Alliant Holdings Raising Capital for Acquisitions

Newport Beach, Calif.-based Alliant Holdings I Inc. has announced that it intends to raise $160 million principal amount of incremental...

Pipeline Safety Bill Proposed After NorCal Blast

A California Assemblyman has proposed a bill aimed at preventing pipeline explosions like the natural gas blast that killed eight people in...

IMA Insurance Broker Launches Benefits Practice

To best help clients navigate the changing benefits landscape and a post-health care reform world, retail insurance broker IMA Inc. has...

MarketScout Wholesale Adds Chummar in Pacific Northwest

Dallas-based MarketScout Wholesale (MSW) has added Shawn Chummar as a broker in its Pacific Northwest location based out of Portland, Ore....

CSE Insurance Captures Holiday Cheer with Card Design Contest

To liven up its holiday cards this year, CSE Insurance Group ran a contest in which the children and grandchildren of its agents submitted...

Heffernan Insurance Brokers Names Davis VP

San Francisco-based Heffernan Insurance Brokers announced that Julie Davis has joined its San Francisco team as a vice president...
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International

UN Secretary General Urges Climate Agreement 'Short of Perfect Deal'

Saying the health of the planet is at stake, U.N. Secretary-General Ban Ki-moon urged 190 nations meeting in Mexico on Tuesday to agree to...

Swiss Re's Economic Forum Sees Continued Growth, Pressure and Risks

Swiss Re's Economic Forum singled out three main factors that will continue to affect the re/insurance market in 2011. The Forum's...

EU Will Back Russia's WTO Entry

The European Union formally backed Russia's bid to join the World Trade Organization on Tuesday, clearing the way for Moscow to join the...

Catlin Re Switzerland Receives Approval from Swiss Regulators

Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced that its reinsurance subsidiary, Catlin...

Chubb Program Expedites Clinical Trials in Czech Rep., Hungary, Portugal

The Chubb Group of Insurance Companies announced that it has added the Czech Republic, Hungary and Portugal to its WORLDcert program, a...

S&P Affirms ING's Ratings; Removed from CreditWatch; Outlook Negative

Standard & Poor's Ratings Services has affirmed its long-term counterparty credit and insurer financial strength ratings on various...
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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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Lawyers Malpractice Claims on the Rise

The economy has taken its toll on all businesses today and law firms are no exception....

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New Discussions in the Forums

Encompass VS. Kemper
Posted: Tue Dec 7 -- We are looking to add another carrier next month. We are in Southern California. I was thinking either Kemper or Encompass. Who has the... JAM
Pay As You Go rating
Posted: Tue Dec 7 -- I beg to differ with you. While it has been established that credit profile is a factor in loss prediction I do... gregcw
Purchasing X-Date Data
Posted: Mon Dec 6 -- I second the endorsement of LIS for their proactive, process-oriented X-Data gathering and compilation. As with anything, you get what you... Steley123
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

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