Daily Headlines: Thursday, February 10, 2011

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February 10, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Judicial Oversight Could Mean Changes for BP Claim Fund Kenneth Feinberg, the formerly freewheeling administrator of BP Plc's fund to compensate victims of last year's oil spill, could be forced ... Insurers Seek Delay in Financial Rules Until Insurance Posts Filled The insurance industry is asking the Obama Administration to slow down on rules for deciding whether insurers and other nonbank financial ... Banks Boost Income from Insurance Brokerage Banks earned less in insurance brokerage fees in the third quarter of 2010 than the previous year's third quarter. However, overall for ... Allstate Profit Falls as Auto, Catastrophe Claims Rise Allstate Insurance net income fell 43 percent in the fourth quarter as rising claims from auto insurance customers and catastrophes took ... Best Affirms Odyssey Re and Subs 'A' Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of Odyssey ... SpatialKey, Kinetic Analysis Partner to Boost Storm Impact Analysis Spatial Key and Kinetic Analysis have announced a strategic partnership to provide real-time and historical tropical storm analysis for ... AmWINS Expands Non-Standard Auto Capabilities Through Acquisitions AmWINS Group, Inc. has acquired American Southwest Insurance Managers, Inc., Excel General Agency, Inc. and Oakwood Software Insurance ... Inferior Results Will Force Admitted Carriers Out of the E&S World, Eventually The loss of market share in the surplus lines sector of the property/casualty insurance industry will turn around when standard carriers ... Public Entities and Their Insurance Providers Adjust Sails in Fiscal Storm State and municipal governments are facing tight budgets and many are having difficulty paying for their police, fire, schools and services.... More National News East Ryan Specialty Group Buys Concord Specialty Risk Ryan Specialty Group (RSG) has acquired New York-based Concord Specialty Risk, a managing general underwriter and consultant that provides ... New Deputy Vermont Insurance Commissioner Named A Massachusetts insurance regulator is set to become the deputy commissioner of Vermont's Department of Banking, Insurance, Securities and ... Two Workers Die After New York Construction Site Fall Two ironworkers died Tuesday morning after they fell from a fifth floor through an open elevator shaft at a church construction site where ... More East News The Real Effects of Granting Additional Insured Status Presented by author Chris Boggs - Attend live webcast Tuesday, Feb 15 - Download audio and video of the training session Register Today Midwest Wisconsin Senate Passes Lower Car Insurance Levels The Wisconsin state Senate has passed legislation that would lower minimum levels of car insurance and make it more difficult to approve ... RW Scobie Group, Haugen Marine Insurance Services Form Joint Venture RW Scobie Group announced a partnership with Haugen Marine Insurance Services Inc., a marine specialty agency, and its owner Jack Papas. ... Lockton Promotes 2 Associates to Practice Leaders Lockton Companies LLC, a Kansas City-based firm specializing in insurance, risk management and employee benefits, announced two promotions ... Iroquois Group Names Brown Regional Manager in Midwest The Iroquois Group has named Terry Brown, regional manager for Missouri, Kansas and Nebraska. Brown has more than 28 years of experience in ... More Midwest News Southeast Gresham Announces Retirement of Sizer Gresham and Associates Insurance Brokers has announced that Debbie Sizer, long-time branch manager of the firm's West Palm Beach, Florida ... Florida Advances Workers’ Compensation, Commercial Deregulation Bills The Florida House Subcommittee on Insurance and Banking has approved a bill that would codify the Florida Workers' Compensation Joint ... South Carolina House Passes Limit on Punitive Damages The South Carolina House of Representatives approved limits on punitive damages yesterday by a vote of 100 to 7. The bill would limit ... More Southeast News South Central Beck Reappointed as Head of Texas Office of Public Insurance Counsel Texas Gov. Rick Perry has reappointed Deeia D. Beck of Austin to the Office of Public Insurance Counsel for a term to expire Feb. 1, 2013. ... Oklahoma Senate Committee Passes Lawsuit Reforms The Oklahoma Senate Judiciary Committee on Feb. 8 approved five lawsuit reform measures that are key components of the Senate Republican ... Suit Filed in Dallas over Super Bowl Seat Problems A class-action lawsuit accuses the NFL, the Dallas Cowboys and team owner Jerry Jones of deceiving hundreds of fans who bought Super Bowl ... More South Central News West Allstate To Appoint 54 Agency Owners in Colorado To increase presence in the Colorado marketplace, Allstate Insurance Co. announced it plans to appoint 54 Colorado agency owners by the end ... Montana House Committee Endorses Workers’ Comp Reform Bill The Montana House Business and Labor Committee has endorsed a bill to reform the state's workers' compensation system. Among other things, ... Employers Holdings To Report Q4 Earnings Feb. 24 Reno, Nev.-based Employers Holdings Inc. (NYSE: EIG), whose subsidiaries are specialty providers of workers' compensation insurance focused ... Report: Calif. Health Insurers Deny 26% of All Claims California's largest, private health insurers rejected 26 percent of all claims --13.1 million -- submitted for the first three quarters of ... Oregon Work-Related Injury Rate at Record-Low Oregon's private sector workers suffered work-related injuries and illnesses at a rate of 4.4 for every 100 full-time employees in the 2009 ... Calif. Surplus Line Association Names New Officers The members of the Surplus Line Association of California (SLA) have elected Patrick Hanley as their chairman. Hanley is president of ... Wyoming Processing Producer Renewals Online The Wyoming Department of Insurance announced it will be processing all renewals for insurance producers online through the National ... More West News International PartnerRe Appoints Miranthis to Board of Directors Bermuda-based PartnerRe Ltd.announced that President and Chief Executive Officer Costas Miranthis, has been appointed to fill a vacancy on ... Pirates Hijack U.S.-bound Oil Tanker off Oman Suspected Somali pirates captured a U.S.-bound tanker carrying around $200 million worth of crude oil in the Indian Ocean on Wednesday in ... Chartis Launches Tender Offer for All Shares of Fuji Fire and Marine Chartis Inc., the general insurance subsidiary of American International Group has announced a cash tender offer through its wholly-owned ... Willis Reports $89 Million Q4 Net Income; FY $455 Million Willis Group Holdings reported increases in both fourth quarter and full year net income. For the quarter ended December 31, 2010 net ... Swiss Re Urges Australia to Use Cat Bonds as Disaster Risk Rises Global reinsurance giant Swiss Re said Australia's natural disaster risk was increasing and urged its governments to cover the rising ... Lockton Warns Europe Organizations are on ‘Borrowed Time’ for Data Breaches A new white paper from international brokers Lockton - Exposed in Europe, Data Breaches and Their Impact in a Changing Legal and Regulatory ... Catlin Group 2010 Profits Fall to $406 Million on Cat Losses The Bermuda-based (London headquartered) Catlin Group Limited reported net profits before tax in 2010 of $406 million, compared to $603 ... Zurich BOP off 13% for 2010 at $4.9 Bn; Net Income $3.4 Bn Zurich Financial Services Group reported a business operating profit (BOP) of $4.9 billion, a 13 percent decline, and net income of $3.4 ... Best Affirms Fairfax, Caribbean Re Subs Ratings A.M. Best Co. has affirmed the issuer credit rating (ICR) of "bbb" and the unsecured debt and preferred equity ratings of Toronto-based ... S&P Revises Outlook on UK’s Aviva: Ratings Affirmed Standard & Poor's Ratings Services has revised its outlook on Aviva PLC, the holding company of the U.K.-based global multiline ... More International News Sponsored Content Investigation Solutions Saves Client $50,000 on Fraudulent Workers' Compensation Claim San Diego, CA, 02/10/11 – Investigation Solutions, Inc., the subsidiary of American Claims Management, Inc. (ACM) that handles fraud and ... More Sponsored Content Join the Insurance Journal Network Insurance Journal TV Will Deficit Debate Affect Flood Insurance? Taxes? Following the November elections, Congress and the White House, as well as states, have... Watch Now How November Elections Changed Insurance Power in Washington The November elections brought change to Washington as Republicans took control of the House... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums California Capital Insurance Co. Posted: Thu Feb 10 -- Has anyone else recently gotten appointed with CIG? If so, how do you like working with them? How is their claims service? steve32 CPCU classes vs. CLU classes Posted: Thu Feb 10 -- Thanks for your input, Victoria, about e-books. You'll see some developments along those lines later this year to complement our print... skryan I'm Considering Opening an Independent Insurance Agency Posted: Wed Feb 9 -- The captive agents that I talk to have had very little problem recapturing their old book of business when switching to IA. Most of them... sacman Anyone offering instant auto quotes on their site? Posted: Wed Feb 9 -- Yes, those are exactly my concerns. That's why I don't subscribe to company generated leads. I remember getting in a 45 minute discussion... Rochambeau Diminishing Role of the Agent for P&C Insurance Posted: Wed Feb 9 -- "bjwestner, This type of coverage is auto replacement, commonly available in countries outside the USA. There... KPIA How can a new agent obtain appointments? Posted: Tue Feb 8 -- to get new appointments is not a very easy one but for having a good Representative you must have good communication skills with good skills... michal Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Sales Representatives - Homeowners Insurance Director - Protection Finance Homeowners Claim Supervisor Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. 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