Jan 12, 2011

Daily Headlines: Wednesday, January 12, 2011

Insurance Journal Daily Headlines
January 12, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Companies Concerned About U.S. Consumer Complaint Sites

The U.S. government is intensifying its use of consumer complaint websites with two new outlets for customer gripes that have trade groups...

White House Panel Calls For Tough Regulation After BP Spill

White House panel probing BP's massive oil spill called for an overhaul of a regulatory system that was "entirely unprepared'' for disaster...

Study: U.S. Tort Costs Decline in 2009

A decline in both real and nominal GDP, a rising unemployment rate and decreasing tort activity as a result of a lower level of economic...

The 2010 Insurance Fraud Hall of Shame

Barbara Morris died in a house fire set by an insurance arsonist. Bob Harper bought a fake health policy after urgently needing a pacemaker....

Keenan HealthCare to Offer 340B Savings Program for Hospitals, Health Centers

Hundreds of hospitals, federally qualified health centers (FQHC) and other qualified providers ("covered entities") in California and across...

Verheyen Named Risk Chief at CNA

CNA appointed Mark Verheyen as senior vice president and chief risk officer. He will lead risk management efforts throughout CNA. Since...

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

Delaware Sees Fewest Traffic Deaths Since 1968

Delaware Highway Safety officials say the state saw a 14 percent drop in traffic deaths in 2010. A preliminary count announced this week...

Alleged 'Harassment' Not Compensable for New Jersey Security Guard

A New Jersey woman who claimed the stress of her work as a hospital security guard left her with a psychiatric disablity cannot collect...

Erie Names Micholas as Pittsburgh Branch Office Manager

Erie Insurance has appointed Leah M. Micholas as vice president and branch manager of its Pittsburgh branch office. She will direct and...
Midwest

Ohio: More Than 3,000 Medical Liability Claims Closed in 2009

The Ohio Department of Insurance announced that its fifth annual Ohio Medical Professional Liability Closed Claim Report shows a total of...

Kansas Insurance Department Recoveries for Consumers Drop in 2010

The Kansas Insurance Department is reporting that it recovered 32 percent less money for consumers last year than it did in 2009. But the...

CNA Makes Changes to Commercial Insurance Team in Chicago

CNA Financial Corp. announced it has expanded its Commercial Insurance management team. Pat O'Connor will join the global business insurer...
Southeast

Insurers Offer Options for Mississippi, Alabama Coastal Homeowners

A handful of new insurers have entered the coastal markets of Alabama and Mississippi, offering options to some homeowners. Coastal...

BP Claims Chief Meets with Mississippi Business Owners

The administrator of BP's $20 billion oil spill claims fund has promised fairness and speed in compensating victims, but angry fishermen and...

McPeak Named Tennessee Insurance Commissioner

Republican Gov.-elect Bill Haslam has named insurance regulatory attorney Julie McPeak to oversee the Tennessee Department of Commerce and...
Texas / South Central

Oklahoma Revenue Exceeds Prior Year, New Treasurer Says

State officials say the money coming into state coffers last month exceeded both prior year collections and the official estimate. New State...

Construction Supply Group Receives $179K Dividend from Texas Mutual

Texas Mutual Insurance Co. announced a $179,106 dividend to the Texas Construction Supply (TCS) workers' compensation purchasing group. The...

SBA Announces Disaster Loans for 72 Oklahoma Counties

The U.S. Small Business Administration says small, non-farm businesses in 72 Oklahoma counties are eligible for low-interest disaster...
West

Montana Bill Would Cut Workers' Comp to Illegal Aliens

A Montana lawmaker has proposed reducing the cost of state workers' compensation insurance by prohibiting illegal immigrant workers from...

USI Holdings Acquires Venbrook's Commercial Marine Business

New York-based USI Holdings Corp. has acquired the commercial marine business operation from Venbrook Group LLC, a Los Angeles-based...

Confie Seguros Acquires Seguros Sin Barreras

Confie Seguros, a provider of auto insurance with an emphasis on serving Hispanic consumers, has acquired Seguros Sin Barreras, an insurance...

Calif. Insurance Associations Establish Ken Anderson Memorial Endowment

The Insurance Brokers and Agents of Burbank, Glendale and Pasadena, Calif., announced they have establishedthe Ken Anderson Memorial...

Festa Appointed to Calif. Insurance Guarantee Association Board

Reno, Nev.-based Employers announced that Stephen V. Festa, senior vice president and chief claims officer, has been named secretary and...

Arthur J. Gallagher Names Young Assistant VP

Arthur J. Gallagher Risk Management Services has named Lauri Young an area assistant vice president responsible for new business development...

EPIC Names Heher VP in Petaluma

EPIC (Edgewood Partners Insurance Center), a retail property, casualty and employee benefits insurance brokerage, has named Adam Heher a...
International

Australia Floods Inundate Brisbane; 16 Dead

Massive floods shut down the centre of Australia's third-largest city, sent thousands fleeing from their homes and sparked panic buying of...

AIG Agrees to $2.2 Billion Sale of Taiwan Life Unit

American International Group Inc. accepted a $2.16 billion cash offer for its Taiwan Nan Shan Life unit from a group led by local...

AIG Set to Announce Sale of Taiwan Life Unit

American International Group Inc. could announce as early as Wednesday the sale of its Taiwan Nan Shan Life unit to conglomerate Ruentex...

Sloan Mason Partners with Reinsurers to Expand Marine Coverage in Latin America

Sloan Mason has expanded into Latin American facultative reinsurance business. The San Diego based broker is placing coverage for ports...
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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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