Jan 11, 2011

Daily Headlines: Tuesday, January 11, 2011

Insurance Journal Daily Headlines
January 11, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Reinsurance Prices Should Remain Soft in 2011: Reports

Two new reports deepened the gloomy outlook for global reinsurers Monday, with fresh evidence of weak pricing and little hope for a...

Chinese Drywall Makers Refusing to Compensate U.S. Homeowners

The top U.S. product safety official said on Monday the agency has failed to persuade Chinese makers of defective drywall to compensate...

The Economic Cost of Obesity

The total economic cost of an overweight and obese population in the U.S. and Canada approaches $300 billion per year, with 90 percent of...

Large AIG Share Sales on Track This Year: Source

American International Group Inc. shares are expected to settle back to a level in the mid-$40 range once the company's recently approved...

As Small Business Shrinks, Small P/C Insurers Lose

The property/casualty small business sector—those accounts with less than 50 employees—has shrunk substantially since 2007, and...

Lexington Expands Product Liability with Product Recall Endorsement

Lexington Insurance Co., a Chartis company, has expanded its products liability insurance coverage to respond to the increasing risks...

From MyNewMarkets.com Small Niche Market of Art Title Insurance Making Big News

Incidents involving alleged stolen artwork have sparked a new wave of interest in art title insurance. Most recently is the case of a...
East

Malpractice Info Missing from Connecticut Docs Profiles

The Connecticut Public Health Department's online doctor database frequently omits information about past malpractice payments, making it...

WKF&C Agency Names Sillat President

New York-based managing general agent WKF&C Agency has promoted Michael Sillat to president and chief operating officer. Sillat joined...

Marsh Names Sulkes U.S. Financial Institutions Practice Leader

Marsh appointed Jill Sulkes as head of its U.S. Financial Institutions Practice. Sulkes has more than 15 years of experience in risk...
Midwest

Ohio Lt. Governor Taylor to Direct Insurance Department

Newly sworn-in Ohio Gov. John Kasich appointed Lt. Gov. Mary Taylor to be director of the Ohio Department of Insurance. Immediately...

Ohio Mutual Completes Acquisition of Casco Indemnity

Ohio Mutual Insurance Group (OMIG) has confirmed that its previously announced acquisition of Maine-based Casco Indemnity Company is...

Wells Fargo Insurance Acquires JFK Consulting Group LLC

Wells Fargo Insurance Services USA Inc., headquartered in Chicago, announced it acquired JFK Consulting Group LLC, an employee benefits...

Beazley Adds Komro as D&O Underwriter in Chicago

Anthony Komro has joined Beazley in Chicago as an underwriter of directors and officers (D&O) coverage. The company said Komro will help...
Southeast

Insurer Pays Tennessee for May Flood Damage

State officials say Tennessee has received reimbursement for last May's flooding that damaged state buildings and other state-owned...

New Alabama AG Says Oil Spill Claims Top Priority

Incoming Alabama Attorney General Luther Strange says he will hold nothing back to make sure the state and its citizens are compensated for...

Mississippi Fire Deaths Totaled 80 in 2010

Fire deaths in Mississippi totaled 80 in 2010, according to the state fire marshal's office. Chief Deputy Fire Marshal Ricky Davis tells The...
Texas / South Central

Judge Imprisons 2 for Life in Texas Church Arsons

A judge has sentenced two men to life in prison after they pleaded guilty in a series of fires at churches in Smith County in East Texas...

Combined Agents of America Expands with Agencies in Texas, Kansas

Austin, Texas-based Combined Agents of America, LLC (CAA) announced it has added two new agency members, one located in Kansas and one in...
West

Washington Governor Wants to Reform Workers' Comp

Washington Gov. Chris Gregoire has proposed several changes to the state's workers' compensation system to help the state out of the...

Calif. Workers' Comp System Inadequate in Replacing Lost Earnings

Permanently disabled workers in California's workers' compensation system have historically faced poor return-to-work rates and high levels...

Allstate Phases Out Your Choice Auto Program in California

Allstate Insurance has agreed to stop selling "Your Choice Auto" (YCA) insurance program in California, in response to a challenge brought...

SullivanCurtisMonroe Names Walters Account Executive

Irvine, Calif.-based SullivanCurtisMonroe has named Eric Walters an account executive in its Pasadena, Calif., office. Walters joins SCM...
International

Insurers, Industries Affected by Australia's Floods

Australia's mining industry has borne the brunt of the economic impact from massive floods in Queensland state, but agriculture,...

Floods Head for Australia's Brisbane, Many Evacuate

Authorities urged thousands of residents to leave the outskirts of Australia's third largest city on Tuesday as others sandbagged homes and...

Hub Acquires Assets of Canadian Broker Grande Prairie

Hub Acquires Assets of Canadian Broker Phoenix Grande Prairie Group Hub International Limited announced that it has acquired the assets of...
Sponsored Content

Atlas General Insurance Services Announces Addition of New Carrier for its Workers' Compensation Program

San Diego, CA, 1/11/2011 – Atlas General Insurance Services is pleased to announce the addition of a new carrier to enhance its...
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New Discussions in the Forums

Open Office Next to Geico
Posted: Thu Jan 6 -- I would do some research on how your rates compare to GEICO in your particular area. Have all employees, family & friends in the area get... NYagent301
Farmers Refuses to Pay Botched Auto Repair
Posted: Thu Jan 6 -- May I suggest you always advise the insured (in writing of course - and documented in your ams) to obtain a written, competent appraisal for... darnovak
Has anyone had a DMV audit?
Posted: Wed Jan 5 -- Most common audit findings: 1. Failure to maintain records/documents to justify and support proper use of requested information. All... Erik M. Olsen, CIC
Farmers Insurance
Posted: Wed Jan 5 -- Zurich takes more like 15 to 18% off the top, even before Farmers' light bill is paid. There is a reason most Departments of Insurance no... lonestar
Building Ordinance or Law on Commercial Building
Posted: Tue Jan 4 -- I read that 50% bonus depreciation is not available for things that have useful lives greater than 20 years. I believe that a new roof on a... prince987
2011 Planning - Growth Starts With Improved Retention
Posted: Tue Jan 4 -- I agree completely. If you can increase your retention, your income grows. An agency with $500K in commissions coming in will increase their... justthere
Best Personal lines rates in CA
Posted: Tue Jan 4 -- I relocated just before going Career. FIG doesn't do transfers so they wanted me to re-start the Reserve program again in my new location.... RKunz2

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