Jan 31, 2011

Daily Headlines: Monday, January 31, 2011

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Insurance Journal Daily Headlines
January 31, 2011
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Today's Headlines

National

Poll: Public Opposes Crash Taxes

Three out of four adults (76 percent) believe their taxes cover the time and services provided by emergency response providers following a ...

Donovan Named CEO at Beecher Carlson

Dan Donovan has bee named the new chief executive officer at Atlanta-based broker Beecher Carlson. Tom Golub will step down as CEO and will ...

Marsh Sees Soft Commercial Insurance Market Continuing

Another report indicates that soft commercial insurance market conditions that persisted throughout the U.S. in 2010 will continue into ...

Chartis Umbrella Covers Salary Reimbursement

Chartis has introduced a salary reimbursement endorsement, developed by its Excess Casualty division as a supplementary benefit to its ...

Aon Merges M&A Advisory Teams

Aon Corp. has united its merger and acquisition practices to form Aon M&A Solutions, which will provide M&A risk and human capital ...

ASI Environmental Enhances EnviroStar Policy Form

American Safety Insurance has launched an enhanced version of its EnviroStar policy, which combines common coverages for environmental ...

Texas Jury Orders J&J to Pay $482M in Patent Lawsuit

A federal jury in Texas on Jan. 28 ordered Johnson & Johnson and a subsidiary to pay $482 million in damages to an inventor who claimed ...

CNA Adds Enhancement to Printing, Graphic Imaging Program

CNA has added an enhancement to its current coverages for printers and publishers. The  insurer has broadened the scope of coverage ...

From MyNewMarkets.com The Top Ten D&O Stories of 2010 - Conclusion

Below is the conclusion of the Top Ten D&O Stories of 2010: 7. Assessing Coverage for "Bump Up" Claims: As noted above, a significant...
East

Massachusetts Attorney General Wants Tougher Workers’ Comp Penalties

Massachusetts Attorney General Martha Coakley wants more severe criminal penalties for businesses that go without workers' compensation ...

Nearly 200 Animals Die in Upstate New York Barn Fire

A woman who lost about 200 farm animals in an upstate New York barn fire blames the disaster on a propane heater she had set up to protect ...
Midwest

Wisconsin Assembly Committee Sends Auto Insurance Bill to Full Chamber

A Republican-controlled Assembly committee has approved a bill that would repeal minimum automobile coverage levels, sending the bill to ...

Missouri Insurance Department Returns $10M to Consumers

Enforcement by the Missouri Department of Insurance resulted in consumers receiving $10.5 million from their insurance companies in 2010, ...
Southeast

Medvidofsky Named Audit Vice President by Main Street America

The Jacksonville, Florida-based Main Street America Group has promoted David Medvidofsky to vice president and head of its audit unit. ...

Florida Businessman Charged with Workers’ Compensation Fraud

Florida officials have charged a Duval County man with allegedly creating a fake company and fake name as part of a workers' compensation ...

Florida Stops 4 Firms Selling Motor Vehicle Service Agreements

Florida Insurance Commissioner Kevin McCarty has issued a cease and desist order shutting down a number of insurers for the unauthorized ...
South Central

Insurance License Fees Tied to Credit Cards Rejected in Louisiana

Lawmakers rejected plans for the Louisiana Department of Insurance to allow credit card payments for licenses, because they objected to the ...

Judge Defends Spill Decision That Upset Louisiana AG

A federal judge said Jan. 28 that he wasn't trying to deprive states of their rights when he appointed Alabama's newly elected attorney ...
West

New Mexico Considers Stricter Regs for Older Drivers

New Mexico's Legislature is considering a bill that would impose stricter monitoring and license renewal standards on older drivers. In ...

Washington Approves 12% Workers’ Comp Rate Hike

Washington's Department of Labor & Industries (L&I) has approved an increase to the state's workers' compensation premium rates by ...

Wyoming Roads Deadliest in U.S. in 2009

A national survey says Wyoming led the nation with the highest number of traffic deaths per capita in 2009. The study conducted by the ...
International

Suez Shipping Operating Normally Despite Egypt Unrest: Marine Insurers

No direct threat to ships passing through the strategic Suez Canal waterway exists at the moment, despite unrest in Egypt, a senior ...

Investors Face Rising Risks However Egypt Plays Out

If President Hosni Mubarak clings to power, investors will re-price Egyptian and regional assets to brace for weeks, months or possibly ...

EU Says Giant ‘Motherships’ Give Somali Pirates New Reach

Somali pirates are increasingly using hijacked merchant vessels with hostage crews as giant motherships to attack deeper into the Indian ...

UK’s Amlin to Acquire Lead Yacht Underwriters

UK-based specialist insurer Amlin plc announced that a wholly owned subsidiary has entered into an agreement to acquire Lead Yacht ...

Perryman Appointed Sales and Marketing Director of Willis UK & Ireland

Martyn Perryman has been appointed Sales and Marketing Director for Willis UK & Ireland (WUKI), effective immediately. He is based in ...
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How November Elections Changed Insurance Power in Washington

The November elections brought change to Washington as Republicans took control of the House...
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Medical Marijuana Retailer High on Insurance

Sara Jane Sinclair is the CEO of Sara Jane Inc., a medical marijuana dispensary located in...

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New Discussions in the Forums

Handyman, Gen Liability
Posted: Mon Jan 31 -- Any one can provide info on where to go to get a small handyman business Gen Liability policy?? No painting, just some fence work and some... CIScommercial
Why Would an Agency Retain Trust Account Service?
Posted: Sun Jan 30 -- I recommend to our agency partners (>1000) that they maintain a separate trust bank account. All premium payments, cancellations, etc should... mica.cooper
Social Media and its potential
Posted: Sat Jan 29 -- Fairly recently, our agency began to embrace social media as a viable tool. We have coordinated FB, Twitter, LinkedIn, and a Youtube... ignotus25
First American Specialty
Posted: Sat Jan 29 -- Has anyone had experience with them in California? How hard is it to get an appointment with them? How is writing business with them? Are... steve32
Hiring agents and CSR's
Posted: Sat Jan 29 -- Hiring agents(producers) is a much different process than would apply to CSR's. For all the hiring methodologies, personality tests, skills... Rainmaker
I'm Considering Opening an Independent Insurance Agency
Posted: Sat Jan 29 -- According to a recent article in the insurance journal, 4,000 independent insurance agencies were founded in 2008, 2009 or 2010. Most new... AgencyEquity
Potentially Starting My Own P&C Agency...Cluster Questions
Posted: Sat Jan 29 -- There are all kinds of agency networks across the USA and even worldwide. Many of these groups refer to themselves as "clusters," but... AgencyEquity

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