Feb 28, 2011

Daily Headlines: Monday, February 28, 2011

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Insurance Journal Daily Headlines
February 28, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

No D&O Insurance at Berkshire, Other Notes from Buffett’s Letter

Giant Berkshire Hathaway, which makes much of its money on insurance and investing insurance premiums, does not provide liability insurance ...

Mortgage Crisis Author Lewis Sued for Defamation By Asset Manager

Michael Lewis, best-selling author of  "The Big Short'' about the mortgage meltdown, has been sued for defamation by an asset manager ...

Liability Charges for Amex Adding Up

American Express Co. said it could face up to an additional $500 million in losses from lawsuits and governmental examinations, on top of ...

Industry Files Dog Exclusions for Homeowners Policies

A national insurance advisory organization is filing three endorsements to allow insurers to exclude personal and umbrella liability ...

Chartis Expands CrisisResponseXS to Excess EPL Insureds

Chartis has introduced the extension of CrisisResponse XS coverage to its catastrophic excess employment practices liability (EPL) ...

From MyNewMarkets.com 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...
East

Judge Seeks Narrowing of Sept. 11 Wrongful Death Suit

A judge is urging lawyers in the June trial of the only wrongful death case remaining from the Sept. 11 attacks to see if they can trim the ...

Author’s Libel Suit Against Comedian Seinfeld Thrown Out

A judge has thrown out a lawsuit by a cookbook author who accused Jerry Seinfeld of hurting her reputation by mocking her on national ...

Most Beaches from Maine to Virginia Found to Be Eroding

A survey of hundreds of miles of New England and mid-Atlantic coastline found that 68 percent of the beaches studied have eroded during the ...
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Midwest

Michigan Lags in Snowmobile Safety: Report

Michigan's snowy winters and 6,200 miles of groomed trails make it a magnet for snowmobilers, but all that fun comes at a price. The ...

Illinois Lawmaker Wants Audit of Workers’ Comp System

A top Illinois lawmaker is calling for an audit of the state's questioned workers' compensation program as it applies to state employees. ...

Ohio Business Owner Convicted for Failure to Keep Work Comp Coverage

A Harrison, Ohio, woman has been convicted of fraud in a Hamilton County courtroom for failure to maintain workers' compensation insurance ...

South Dakota Senate Panel Rejects Subrogation Bill

A measure aimed at changing South Dakota's insurance law to give some injured people a better chance of receiving full compensation for ...

Missouri House Votes to Change Workplace Discrimination Laws

The Missouri House has passed legislation that could make it harder for employees to win workplace discrimination lawsuits. The ...
Southeast

North Carolina Senate Panel Alters Malpractice Awards Cap Bill

A legislative committee debating a measure that would place limits on awards in medical malpractice lawsuits and change some rules for the ...

Woman Awarded $1.14 Million After Atlanta Sidewalk Fall

A Fulton County, Georgia jury has awarded $1.14 million in damages to a woman who fell after getting her heel caught in loose concrete on a ...

Florida Approves Lower Collateral for Reinsurer Tokio Millennium

Florida has approved lower collateral payments for another Bermuda reinsurer, the eighth foreign reinsurer to be granted this approval by ...

Florida Officials Question Cost of Red Light Cameras

Some South Florida officials say it's becoming too costly to use automatic cameras to ticket drivers who run red lights. They had hoped ...
South Central

Crump Reaches Standstill Agreement with Former Employee, R-T Specialty

Dallas-based Crump's Property & Casualty Insurance Services Division (Crump P&C), which is part of insurance wholesaler Crump ...

Oklahoma Teacher Disfigured in Fire Opposes Liability Damage Caps

After a lengthy battle with breast cancer, Connie Plumlee was undergoing her last reconstructive surgery when something went horribly ...
West

New Mexico Senate Confirms Workers’ Comp Director

The New Mexico Senate on Wednesday confirmed Ned Fuller as director of the Workers' Compensation Administration. Fuller was nominated by ...

Washington Fines Puyallup Firm $437,300 in Asbestos Cases

Washington's Department of Labor & Industries has cited a Puyallup asbestos abatement company for several willful violations and fined ...
International

Hiscox Posts Good Earnings, Despite a ‘Difficult Year’

International insurer Hiscox Ltd, which operates in the London/Lloyd's market, Guernsey and the U.S., posted lower full year profits than ...

Ritchie to Head New Argo Int’l. Paris Branch Office

The Bermuda-based Argo Group International Holdings announced that Bruno Ritchie has joined the company to lead Argo Assurances, Argo ...

S&P Announces Rating Actions in Wake of Bahrain Unrest

Standard & Poor's Ratings Services announced that it has affirmed its long-term counterparty credit and insurer financial strength ...

Aon Benfield Analyzes Chile Quake ‘One Year On’

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has launched its new report: 'Chile: One Year ...

Best Affirms Endurance Specialty and Subs ‘A’ Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of Endurance ...

Ratings Recap: Zurich/Santander, Jasindo

Standard & Poor's Ratings Services has affirmed its 'AA-' long-term counterparty credit and insurer financial strength ratings on the ...
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Insurance Journal Blogs

Gen Yers looking for lucky number 29

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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

FBI Agent 'Joyrides' Stolen Farrari and Crashes
Posted: Mon Feb 28 -- Didn't that happen in Beverly Hills Cop 2 ? sacman
Membership in a cluster group
Posted: Mon Feb 28 -- More and more agencies are joining clusters and membership in these organizations is probably at an all time high. The biggest reason for... AgencyEquity
The Great Search Is On
Posted: Sat Feb 26 -- I have to say I think there is a problem here. Most insurance policies pay a commission around 15%, regardless of loss. For an agent to make... mica.cooper
Diminishing Role of the Agent for P&C Insurance
Posted: Sat Feb 26 -- While younger people do use the internet more and do more on it, please keep in mind, these "younger people" are 50 and younger as the... AgencyEquity
How hard does your agency push umbrella coverage?
Posted: Fri Feb 25 -- Brenda, That is an excellent practice, it's keeps E&O claims away and makes sure your clients are properly protected. You are absolutely... AgencyEquity
National Agents Alliance? Legit or Keep Away?
Posted: Fri Feb 25 -- Thanks for the info! Yeah, I decided to get licensed with them as well. There's so many concepts that I like, and from what I've researched,... pontiac
Less than two weeks left!
Posted: Fri Feb 25 -- CPCU is not that difficult - relax Ed objectives are some professor blowing smoke - study the definitions are your gold 70% pass, 5% don't... gregsmith5
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

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