Feb 15, 2011

Daily Headlines: Tuesday, February 15, 2011

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Insurance Journal Daily Headlines
February 15, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National
main street insurance

Mood on Main Street: How Recession Changed Insurance Buying Habits

The recession has taken its toll on contractors, restaurants, retailers, small manufacturers and other Main Street business around the ...
president obama

Risk Managers Like, Don't Like, Obama Budget Reinsurance Proposals

Risk managers have found things to like, and not like, in President Barack Obama's budget proposal for the 2012 fiscal year. The Risk and ...

Marsh Reports Robust Revenue Growth

Marsh & McLennan Companies Inc. today reported strong revenue growth and net income for the fourth quarter and full year 2010 year. ...

New Business Court Judge Rattles Lawyers in Shareholder Suits

Lawyers involved in corporate litigation understandably might want to avoid the newest judge on one of the top U.S. business courts. The ...

Best Affirms National Interstate and Subs ‘A’ Ratings

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings (ICR) of "a+" of Ohio-based ...

Catlin US Names Ensign to Reinsurance Post

Atlanta-based Catlin US has appointed Steven Ensign as director of the Direct Property Facultative Department for its reinsurance ...

From MyNewMarkets.com 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....
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East

New York Drivers Will Get Points for Talking on Cell Phones

Beginning tomorrow, New York drivers who are caught talking on their cell phones without a headset will gain two points on their driving ...

Assurant Appoints Colberg

New York-based specialty insurer Assurant appointed Alan Colberg to the newly created position of executive vice president of marketing and ...
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Midwest

United Fire Sees Higher Net Income but Premium Decrease in 2010

United Fire & Casualty Co., headquartered in Cedar Rapids, Iowa, reported an increase in net income for the fourth quarter and full ...

Minnesota Commissioner Appoints 4 to Leadership Team

Minnesota Commerce Commissioner Mike Rothman has announced the newest members of his leadership team. Rothman tapped attorney and ...

MJ Insurance Adds Hanson and Shields

Indianapolis, Ind.-based MJ Insurance, one of the largest privately-held insurance agencies in the U.S., has added Sarah Hanson as claims ...
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Southeast

Workers’ Compensation Research Group Defends Work in North Carolina

A non-profit workers' compensation research organization that maintains its work is independent of the industry and objective has found ...

Mississippi Municipal Insurer Takes Aim at Taser Weapons in Training

A company that administers an insurance program for county workers injured on the job is discouraging the use of Taser shock weapons in ...

Mississippi Senate Passes Proof of Auto Insurance Bill

The Mississippi Senate has passed a bill requiring motorists to show proof they have purchased liability insurance before receiving a car ...
South Central

All Web Leads Acquires InsuranceLeads.com

Austin, Texas-based All Web Leads Inc., an online sales lead generation company supplying the U.S. insurance industry, has acquired ...

Combined Agents of America Partners with Allied Insurance

Combined Agents of America LLC (CAA) announced a partnership with two new companies, Allied Insurance and Allied General Agency ...

Texas Workers’ Comp January Enforcements Include Fines Up to $68K

Final disciplinary actions taken by the Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) for January 2011 include ...
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West

Some Oregon Legislators Want to Relax Helmet Law

Twenty Oregon legislators want to relax the state's motorcycle helmet law, so only drivers younger than 21 would be required to wear a ...

New Mexico Rep Wants to Eliminate Driver’s Licenses for Illegal Immigrants

New Mexico Rep. Andy Nunez, I-Hatch, has introduced a bill to prevent illegal immigrants from obtaining driver's licenses. Currently, to ...
International

Ecuador Court Orders Chevron to Pay $8.6 Billon; Company to Appeal

A court in Ecuador's Amazon told Chevron Corp Monday to pay $8.6 billion in environmental damages, but the U.S. oil company vowed to fight ...

Mercer Report Concludes “Trillions of Dollars at Stake” from Climate Change

According to research released by Mercer and a group of leading global investors representing around $2 trillion in assets under ...

Arch Capital Posts $227.7 Q4 Net Income; $816.7 Million Full Year

Bermuda-based Arch Capital Group reported net income available to common shareholders for the 2010 fourth quarter of $227.7 million, or ...

Danish Warship Frees Ship Hijacked by Pirates

NATO says that a Danish warship has freed a hijacked fishing vessel and arrested 16 suspected Somali pirates. Sunday's press release says ...

Lloyd’s CEO in China Talks on Expansion

A bulletin on the Lloyd's web site notes that CEO Richard Ward "met with representatives from the China Insurance Regulatory Commission ...

Validus Group Posts $102.7 Million Q4 Net Income; $402.6 Million FY

As has been the case with many of its peers, Bermuda-based Validus Holdings didn't escape the loss events of 2010 unscathed, as both fourth ...

Endurance Reports $111.2 Million Q4 Net Income; $364.7 Full Year

Bermuda-based Endurance Specialty Holdings reported net income of $111.2 million and $2.09 per diluted common share for the fourth quarter ...

Alterra Capital Reports $79.7 Q4 Net Income; FY $302.3 Million

Bermuda-based Alterra Capital Holdings reported net income of $79.7 million, or $0.69 per diluted share, for the fourth quarter of 2010, ...

Montpelier Re Posts $42.2 Million Q4 Net Income; FY $212 Million

Bermuda-based Montpelier Re joined a number of its compatriots in posting sharp declines in both fourth quarter 2010 net income and for the ...

S&P Reports Outlook for Int’l. Marine P&I Clubs is Stable

"The outlook for the international marine protection & indemnity (P&I) industry is looking stable, with all clubs in 2010 reporting ...
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Will Deficit Debate Affect Flood Insurance? Taxes?

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New Discussions in the Forums

Carrier Trainee: Presentation Help.
Posted: Tue Feb 15 -- Thank you so much for the advice Val!! Being a young underwriter trainee this is just what I was looking for. Your insights will definitely... Trainee
Independent Agency Start Up Costs
Posted: Mon Feb 14 -- Start up costs for an independent agency should be planned and budgeted for, if a prospective agency owner is not properly funded, it can... AgencyEquity
UM/UIM on a Personal Umbrella?
Posted: Sat Feb 12 -- Well, as we are already appointed with the good folks at A&M, I went ahead and checked out their Big Umbrella program and did a couple test... KPIA
Anyone offering instant auto quotes on their site?
Posted: Fri Feb 11 -- "Am looking at this option for our soon to be redesigned web site and was wondering if anyone here offers... RKunz2

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