Feb 4, 2011

Daily Headlines: Friday, February 4, 2011

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Insurance Journal Daily Headlines
February 4, 2011
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Today's Headlines

National

Zurich to Offer DriveCam's Telematics Services to Fleet Owners, Managers

DriveCam, Inc., a global driver risk management company, is now working with Zurich on its new, integrated fleet risk management system ...

QBE Forms U.S. General Aviation Underwriting Group

QBE the Americas created a U.S.-based general aviation underwriting operation. Headquartered in Atlanta, QBE the Americas' Aviation Team is ...

Super Bowl Risk Management a Team Effort

The Super Bowl XLV may be the biggest game of the year, and to some, it also presents super-sized risk management challenges. The National ...

CNA Looks to Buy Remaining Shares of CNA Surety

CNA Surety Corp. reported net income for the fourth quarter of 2010 of $54.5 million compared to $49.3 million for the same period in 2009. ...

Aon Revenue Up 40% in Q4 on Hewitt Merger

Growth-oriented insurance broker Aon Corp. saw revenues shoot up 40 percent to $2.9 billion in the fourth quarter, largely driven by its ...

Virgina Move Could Speed Up Supreme Court Review of Healthcare Law

Virginia said Thursday it will ask the U.S. Supreme Court to hear its challenge to President Barack Obama's healthcare overhaul, bypassing ...

After Games, 40% of Fans Have Booze on Board

Eight percent of fans who agreed to be tested after attending professional football and baseball games were too drunk to legally drive, a ...

Claims Chief Feinberg Says Gulf to Recover from BP Oil Spill by 2012

The Gulf of Mexico should recover from the massive BP oil spill by the end of 2012, the administrator of the $20 billion victims ...

Women Less Interested in Jobs Where Pay Is Linked to Competition

Men are more likely than women to seek jobs in which competition with coworkers affects pay rates, a preference that might help explain ...

The Uneasy Ties of Americans and Their Government

Back when the big health care law was little more than a dream, a prominent figure spoke out against the idea of forcing people to get ...

From MyNewMarkets.com Business Owners Benefit From New Personal Guarantee Insurance Option

A new type of insurance called personal guarantee insurance (PGI) from Burns & Wilcox and Asterisk Financial will provide some peace of...
New Webinar Next Week: Using Social Media in Hiring, Performance Management or Firing
East

Utica National Promotes Four Execs

New York-based insurer Utica National named three new senior vice presidents, and a corporate officer. Robert F. Manfredo, Kristen H. ...

Gencorp Adds Shaker, Audette to Ocean Marine Team

Rhode Island-based Gencorp Insurance Group appointed K. Douglas Shaker as marine account manager and Kyle Audette as marine account ...
Learn how to How to Read, Understand and Explain the Experience Mod Worksheet
Midwest

Missouri AG Settles with TPAs Over Workers' Comp Violations

Missouri Attorney General Chris Koster has reached agreements with two companies who the attorney general's office says violated ...

Applied Systems Client Network Completes Move to Chicago Area

Applied Systems Client Network (ASCnet), the users group of Applied Systems insurance agency management software, has completed its ...
Southeast

North Carolina Receives 800 Comments on Fire, Dwelling Rates

The North Carolina Department of Insurance said that more than 800 people have submitted either written comments or public testimony on the ...

North Carolina Auto Insurers: No Rate Change Necessary

North Carolina Insurance Commissioner Wayne Goodwin announced good news for drivers in the state after the North Carolina Rate Bureau ...
South Central

Oklahoma Cat Response Team Includes State Officials, Industry Members

Oklahoma Insurance Commissioner John Doak has formed a catastrophe response task force to coordinate efforts of the department and the ...

Bordelon Reappointed as Texas Commissioner of Workers' Compensation

Texas Gov. Rick Perry reappointed Rod A. Bordelon Jr. of Austin as commissioner of Workers' Compensation at the Texas Department of ...

Oklahoma Digging Out Slowly After Blizzard; Disaster Declared

As Oklahomans continue to slowly dig out of 20 inches of snow, sleet and ice that shut down major interstates and forced the closure of ...

Distinguished Programs Acquires Dallas’ GreenLine Underwriters

Distinguished Programs Group LLC (Distinguished), headquartered in New York, has acquired a controlling interest in GreenLine Underwriters ...
West

Wash. lawmakers Wade into Red-Light Camera Debate

Washington lawmakers are wading into a growing debate over the use of cameras to ticket speeders and people who run red lights. Initiative ...

Colorado Casualty Names Hickert Underwriting VP

Colorado Casualty, a Liberty Mutual Agency Corp. regional company, announced that Brenda K. Hickert has been named vice president, ...

Breckenridge Acquires Interest in Reinsurance Broker REcentis

Breckenridge IS Inc. has acquired a majority interest in REcentis Intermediaries LLC, a specialty reinsurance broker with offices in ...
International

BofA Sells Balboa Insurance Portfolio to Australia’s QBE

Bank of America agreed to offload its Balboa insurance portfolio to Australia's QBE Insurance for more than $700 million, the latest in a ...

AIR Estimates Yasi Insured Losses between $356 Million and $1.5 Billion

Catastrophe modeling firm AIR Worldwide has issued early estimates indicating that insured losses to properties and business income from ...

Aon Benfield Monthly Cat Report Highlights Australian Floods, Brazil Landslides

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has released the latest edition of its Monthly Cat ...

Australian Natural Disasters Spark Renewed Call Action on Climate Change

An architect of Australia's stalled climate change policy has linked the nation's recent natural disasters with global warming and called ...

ACE Reports Q4 Net Income of $1 Billion; $3.1 Billion Full Year

ACE Limited reported net income for the quarter ended December 31, 2010, of $2.92 per share, compared with $2.81 per share for the same ...

S and P Lowers Aviva Insurance Ratings from ‘A+’ to ‘A-’ After Ireland Downgrade

Standard & Poor's Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Aviva ...

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How November Elections Changed Insurance Power in Washington

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New Discussions in the Forums

Commercial rater
Posted: Fri Feb 4 -- I second that! Back in the day, AMS Micro Magic 3.9b DOS Commercial was king and nothing has come to take its place. mica.cooper
Does local outsourcing benefit the retail agency?
Posted: Fri Feb 4 -- Outsourcing is valid for two reasons: 1-You don't have the expertise inhouse 2-Its significantly cheaper somewhere else Seems like you have... mica.cooper
Social Media and its potential
Posted: Fri Feb 4 -- In reply to Steveinsure: I do agree that most retailers are not equipped to service nationwide accounts and the comment is much appreciated.... ignotus25
Stop It!
Posted: Thu Feb 3 -- I think Scott's point in this resurrected posting is that in an attempt to elevate oneself into a true insurance professional during a fact... d's insurance store
Specialty Contractor
Posted: Thu Feb 3 -- No they are not being non renewed. It had occurred to me that they are currently where need to be - but I figured a post here couldn't hurt.... GRCinCA
Captive Agencies with Non-Compete Agreements
Posted: Thu Feb 3 -- Many producer agreements come with some sort of a non-compete clauses and nearly all captive agency contracts have non-compete clauses... AgencyEquity
CPCU classes vs. CLU classes
Posted: Wed Feb 2 -- Well I actually received my CPCU textbook and guides last night and was surprised at how thin the textbook is. It's about half the size of... bjwestner
Potentially Starting My Own P&C Agency...Cluster Questions
Posted: Tue Feb 1 -- I hope your boss is not reading this, Just kidding. Nevertheless you need to make quite a big margin in order to depend on it. I can't give... aahorncole

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