Feb 25, 2011

Daily Headlines: Friday, February 25, 2011

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Insurance Journal Daily Headlines
February 25, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Demand for Agricultural Insurance Expected to Grow

The agricultural insurance market is facing rising demand along with pressures to adapt to changes in farming and to become more efficient ...

Chartis 4Q Loss Tied to Reserve Strengthening

American International Group Inc. reported net income of $11.2 billion for the quarter ended Dec. 31, 2010, and $7.8 billion for the full ...

Architects, Engineers Liability Rates to Go Up: Report

Rates for architects and engineers professional liability insurance, which have been stable, are expected to go up this year, a new study ...

Verisk Appoints Stephenson As President, Promotes Others

Verisk Analytics has appoointed Scott G. Stephenson, chief operating officer, to the additional role of president. The company also ...

From MyNewMarkets.com Medical Marijuana Raid Coverage to Ease Worries of Dispensary Owners

Medical marijuana dispensary owners face a variety of risks because of the product they sell and the controversy that surrounds it. Even...
East

New Hampshire Bill Would Repeal Boat Speed Limits

A year after New Hampshire established permanent speed limits on its largest lake, lawmakers are considering repealing them. The Senate is ...
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Midwest

North Dakota Insurance Department Recovers $5.5M for Consumers in 2010

North Dakota Insurance Commissioner Adam Hamm reported that the North Dakota Insurance Department helped recover or save more than $5.5 ...

MJ Insurance Forms Human Resource Consulting Division

Indianapolis, Ind.-based property/casualty and employee benefit agency MJ Insurance announced it has formed a Human Resource Consulting ...
Southeast

Massey Agrees to Medical Monitoring in West Virginia Slurry Case

Massey Energy will set up a medical monitoring fund for southern West Virginia residents who claim the company poisoned their wells with ...

Duke University, Insurer End Dispute Over Lacrosse Settlement

The American International Group has resolved its lawsuit with Duke University over expenses and legal fees in a case that has its origins ...

Morgan Joins Wholesale Trading Co-Op in Atlanta

San Francisco-based Wholesale Trading Co-Op Insurance Services LLC (WTCI) has named Mark Morgan vice president/property broker. He will be ...
South Central

Oklahoma Senate Votes for $250K Limit on Jury Awards

The Oklahoma Senate has approved a bill to limit pain and suffering awards to $250,000, despite concerns from members that the decision ...

Citgo Fined for 2009 Corpus Christi Blast, Fire

Citgo Petroleum Corp was fined $303,294 for a July 2009 explosion and fire at its 163,000 barrel per day (bpd) Corpus Christi, Texas, ...

RISC Opens Energy, Construction Programs to Wholesale Brokers

RISC, Inc.'s exclusive nationwide programs for energy and construction are now open for access by other wholesale brokers.  RISC offers ...

Goss Re Changes Name to Advocate Reinsurance Partners LLC

Goss Reinsurance Brokers LLC, a privately owned reinsurance intermediary firm headquartered in Dallas, Texas, announced it has changed the ...
West

Calif. Workers’ Comp Web Site To Verify Employers’ Insurance

The California Office of Administrative Law has approved new regulations for creating a Web site that will allow people to verify employers ...

Great American Environmental Continues West Expansion with Staff Addition

Great American Insurance Group's Environmental Division has added made another staff addition to its division as it continues to expand ...

R-T Specialty Names Booth Inside Broker

R-T Specialty LLC announced it has hired Michele Booth as an inside broker for the company's La Jolla, Calif., office. Booth will work ...

L.A.Xcess Insurance Brokers Now Independently Owned

Richard Rutkin, president of L.A.Xcess Insurance Brokers Inc. announced that L.A.Xcess has become an independently owned national ...

Colo. Governor Recommends Three to Pinnacol’s Board

Colorado's Senate Business, Labor and Technology Committee has unanimously recommended the confirmation of John Cevette, Blair Richardson ...
International

New Zealand Quake Toll Rises as Hope Fades for Survivors

Rescuers extended their search on Friday to shattered houses close to the epicenter of Christchurch's deadly earthquake, but rain and cold ...

‘Worsening Weather, Better Forecasting’ Could Prompt Force Majeure Changes

Worsening weather and better forecasting methods could push the mining sector to change force majeure provisions in supply contracts and ...

A.J Gallagher to Acquire UK Agency Woodbrook

Arthur J. Gallagher & Co. announced that it has signed a definitive agreement to acquire the business and certain assets of ...

PartnerRe Makes Changes in Catastrophe Business Unit

Bermuda-based PartnerRe Ltd. Has announced leadership changes in its Catastrophe business unit, effective April 1, 2011. Brian Secrett, ...

Ratings Recap: Aegon, Grafton (Europe), AGA, Inbursa, Malayan

Standard & Poor's Ratings Services has said that its ratings and outlook on Netherlands-based insurance holding company AEGON N.V. ...

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Insurance Journal TV

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Will Deficit Debate Affect Flood Insurance? Taxes?

Following the November elections, Congress and the White House, as well as states, have...
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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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New Discussions in the Forums

Allstate - What is going on?
Posted: Fri Feb 25 -- I truly feel that direct writers play a key role as they bring in a lot of new blood into our industry. However, I would not label all... AgencyEquity
Agency Management System
Posted: Fri Feb 25 -- Check out Evolution Agency Management As low... glennetheridge
The Great Search Is On
Posted: Fri Feb 25 -- Can anyone recommend an industry consultant to assist in our Agent and Broker recruiting efforts? We are the providers of a unique form of... SalesGuard
How hard does your agency push umbrella coverage?
Posted: Fri Feb 25 -- Are you recommending an umbrella policy to clients who have both home and auto coverage with you agency? Are you advising your commercial... AgencyEquity
National Agents Alliance? Legit or Keep Away?
Posted: Fri Feb 25 -- Was recently shown the NAA opportunity. Very intrigued. Wish I could get straight answers on my questions. pontiac
Less than two weeks left!
Posted: Fri Feb 25 -- When I took those exams 2 years ago, I felt the most helpful material to pass the exams were the study guides. Many exam questions were... wariline
Co-signer for Auto Loan
Posted: Thu Feb 24 -- Sometimes a lien holder will require that they have proof of insurance that includes both borrowers listed on the policy but if they didn't... QuoteClicker
Diminishing Role of the Agent for P&C Insurance
Posted: Thu Feb 24 -- Even though more consumers are buying auto insurance direct it would be hard, next to impossible to replace the services that an actual... QuoteClicker
Are the good times just around the corner?
Posted: Thu Feb 24 -- I work in the claims department for an auto insurer, so this question will be for auto insurance companies. In the last few years, many of... bjwestner

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