Feb 23, 2011

Daily Headlines: Wednesday, February 23, 2011

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Insurance Journal Daily Headlines
February 23, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Supreme Court Allows Lawsuits Over Seat Belts

The U.S. Supreme Court ruled that federal regulations setting vehicle safety standards do not bar lawsuits seeking damages from automakers ...

Vivendi Wins Narrowing of $9 Billion U.S. Investor Lawsuit

Vivendi SA won a big court victory when a federal judge slashed potential damages in a $9.3 billion lawsuit accusing the French media ...

Main Street America Group Reports Strong 2010 Results, Eyes Expansion

Jacksonville, Fla.-based The Main Street America Group reported that its 2010 financial results included 99.2 combined ratio, 9.1 percent ...

Insurers Report 24% Rise in Suspicious Claims Since 2008

There has been a 24 percent rise in what insurance companies consider suspicious claims since 2008. In 2008, a total of 74,146 so-called ...

NAS to Offer Low Deductibles for Medical Practice EPLI Insureds

For medical risks seeking employment practices liability coverage, NAS Insurance Services offers a $2,500 SIR, competitive premiums, and ...

AIG Names Werner to Head Investor Relations

American International Group Inc.  announced that Elizabeth Werner has been named vice president and head of Investor Relations. She ...

Kneser Named Customer Service Rep of the Year

The Independent Insurance Agents & Brokers of America (IIABA or the Big "I") and The Institutes is reminding the insurance industry ...

Next for IBM's Watson: Insurance Jobs in Jeopardy?

IBM wasted no time in parlaying the winning performance of its artificially intelligent Watson on the TV game show "Jeopardy!" into ...

From MyNewMarkets.com Underwriters Address Political Risk Exposures in Wake of Egyptian Crisis

The civil and political unrest in Egypt has brought to light how vital political risk coverage is — regardless of the country in which...
East

Virginia Bill Extends Sex Abuse Statute of Limitations to 20 Years

A bill to extend the amount of time victims of sexual abuse have to file lawsuits against their attackers and others who may have covered ...

New York Man Arrested for Insuring 18 Unlicensed Family Members

A Middletown man who thought he was doing favors for unlicensed family members and friends by registering and insuring their cars was ...

Former New York Insurance Regulator Tapped as Special Prosecutor

A New York district attorney is seeking a special prosecutor to investigate possible wrongdoing at a now-closed crime lab. Nassau County ...

Parsons & Associates, Couch Braunsdorf Form Alliance to Offer Lawyers PL in NY

Parsons & Associates, Inc. and Couch Braunsdorf Insurance Group have formed a strategic alliance agreement to market, sell and service ...
Midwest

Missouri: Consumers not Being Protected with Earthquake Insurance

On the 200th anniversary of the great New Madrid earthquake, Missouri's insurance director says most homeowners would not be adequately ...

Accident Fund Insurance Names Haake Cos. as Its Agency of the Year

Michigan-based workers' compensation insurance company, Accident Fund Insurance Co. of America, has named Haake Companies of Overland ...

Ohio Insurance Department Financial Regulation Director to Retire

The Ohio Department of Insurance announced the retirement of Bill Rossbach, an integral part of the department's Financial Regulation ...
Southeast

57 South Carolina Homeowners Receive Mitigation Grants

South Carolina insurance officials this week awarded 57 grants to coastal homeowners for use in installing new roofing systems and taking ...

Judges Still Trying to Settle West Virginia Coal Slurry Lawsuit

Two judges will try again this week to settle a long-running medical monitoring lawsuit over claims that Massey Energy Co. poisoned ...

South Carolina Debates Fine for Texting While Driving

People convicted of texting and driving will have to pay a $45 in fines under legislation that is up for debate in a South Carolina Senate ...

Homeowners Choice Begins Expansion to Alabama

Homeowners Choice, Inc. a Florida-based insurance holding company, has taken initial steps to enter the Alabama homeowners insurance ...
South Central

Texas Bill Would Increase Insurance for Owning Dangerous Animals

Texas Rep. Harvey Hilderbran of Kerrville has filed legislation aimed at elevating public safety and protecting animal health by ...

Oklahoma Lawmakers Aim to Increase Consequences for Uninsured Motorists

To increase the incentive for all Oklahoma drivers to carry mandatory liability auto insurance, a House of Representatives committee voted ...

Texas Windstorm Insurance Litigation Costs Too High, Lawmaker Says

The amount the Texas Windstorm Insurance Association (TWIA) has paid out in litigation costs as a result of lawsuits stemming from ...
West

Calif., Colorado Consider Banning 'Crash Taxes'

Legislators in both California and Colorado have proposed new laws that would prohibit communities from charging a fee when police and fire ...

Crouse & Associates Adds Cardoso as Senior Broker

Crouse and Associates Insurance Services has added Frank Cardoso to its Production Team as a senior property and casualty broker in the ...

Signature Select Adds Tolliver in Commercial Lines Practice

Denver-based Signature Select LLC, a retail insurance broker subsidiary of The IMA Financial Group Inc., today announced that it has ...
International

Insurers May Face $3.5-$8 Billion New Zealand Quake Hit

The insurance industry faces damage claims of between $3.5 billion and $8 billion from Tuesday's devastating earthquake around ...

Zurich in $1.67 Billion Deal with Santander for Latin American Distribution

Zurich Financial Services Group announced that it has signed a Memorandum of Understanding (MOU) with Banco Santander SA to enter into a ...

Aon Benfield Pushes for ‘Simplified Internal Model’ for Solvency II Approval

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, is calling for a "simplified Internal Model ...
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New Discussions in the Forums

Peo And Employee Leasing Companies?
Posted: Wed Feb 23 -- PEO or employee leasing (sometimes referred to as staff leasing...really depends on the States you are talking about), is a great solution... HROplus
Agency Management System
Posted: Wed Feb 23 -- "Anyone with experience with QQevolution? We are considering that one and hawksoft. Any thoughts?" I switched fro... volstrike3
PA Dog Liability to meet State Requirements
Posted: Tue Feb 22 -- So you're saying the mandatory auto liability insurance or WC are illegal? "So the bite was with reasonable... wariline
Less than two weeks left!
Posted: Tue Feb 22 -- BJ: I care. It sounds like you have done a lot of preparation. Spend these last two weeks focusing on the Educational Objectves in the... Blondie2
Farmers - your opinion
Posted: Tue Feb 22 -- I kind of confused this with the one started in Jan, 09 by an Illinois Agent. Seems to be saying the same thing, just under a different... FFA
I'm Considering Opening an Independent Insurance Agency
Posted: Tue Feb 22 -- You know, Lonestar, it could be a lot of things...and company loyalty might be one component. I was merely narrating my experience of going... d's insurance store

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