Mar 14, 2011

Daily Headlines: Monday, March 14, 2011

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Insurance Journal Daily Headlines
March 14, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Business Groups Back Expanding Federal Flood Insurance Options

Expanding a federal program that is already $17 billion in debt might seem like a non-starter of an idea on budget-sensitive Capitol Hill ...

Appeals Court to Expedite Obama Healthcare Appeal

A U.S. Appeals Court agreed Friday to speed up the timetable for the Obama administration's appeal of a federal judge's ruling that struck ...

Progressive Goes National with Usage-Based ‘Snapshot’ Car Insurance Program

Progressive has begun national advertising for its "Pay-As-You-Drive" program, Snapshot, which offers drivers discounts of as much as ...

Maritime Program Group Creates Excess P&I Facility for Crewed Yachts

Maritime Program Group has launched a new Excess P&I facility specifically designed for crewed yachts.  The new program through ...

From MyNewMarkets.com One Year Later: How New E&S Firms Fare in Today's Competitive Landscape

The excess and surplus market has been in high demand recently as admitted carriers barge into the marketplace and new E&S companies...
Sponsored by: Maritime Program Group. Join the Revolution in Maritime Insurance. Recreational Marine, Inland Marine, Ocean Marine, Private Clients Services. Click for more info.
East

XL Adds Schenone to Space Underwriting Unit

Insurer XL has appointed Robert C. Schenone as vice president and senior class underwriter in its space underwriting unit. Schenone, who ...

KMRD Adds Two Producers

Pennsylvania-based insurance broker KMRD Partners has added Ryan Heinig and Brendan McPoyle as producers. The two will serve as sales and ...
Midwest

Croxton & Roe Insurance Joins ISU Network

Croxton & Roe Insurance of Angola, Ind., has joined the ISU Network. ISU Croxton & Roe Insurance Services was founded in 1934. ...

Nebraska: Insurers May Not Collect Fees for Health Insurance Consultants

Health insurance companies may not collect fees from a new insured on behalf of an insurance consultant if the insurance business is ...

Accident Fund Honors 23 Agencies with 2010 President’s Club Award

Lansing, Mich.-based Accident Fund Insurance Co. of America has honored 23 agencies with its 2010 President's Club Award. The annual award ...

Signature Select Promotes Elgas to VP in Kansas City

Signature Select LLC, a retail insurance broker subsidiary of The IMA Financial Group Inc., has promoted Chad Elgas to vice president of ...

FEMA Shifts Course on Flood Map Modeling in Illinois

The Federal Emergency Management Agency is offering a reprieve to property owners in southwestern Illinois and other areas guarded by aging ...

Illinois House Orders Workers' Comp Audit for State Employees

The state auditor general will be sent a resolution approved by the Illinois House ordering an audit of Illinois' workers' compensation ...
Southeast

Two Florida Insurers Face Insolvency Actions: Seminole, AequiCap

Two Florida insurers are facing regulatory action as the state's Office of Insurance Regulation (OIR) ordered commercial insurer AequiCap ...
South Central

Business Lobby Critical of GOP Immigration Measure in Oklahoma

A quiet campaign by Oklahoma's business community to head off tough new immigration legislation is causing an angry rift among Republicans ...

TDI January Enforcements Include $373.5K in Fines, Restitution

Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during January 2011 include seven license ...

Workers' Comp Reform Package Approved by Full Oklahoma Senate

The full Oklahoma Senate has approved Senate Bill 878, a workers' compensation bill authored by Sen. Patrick Anderson, R-Enid, and Sen. ...
West

Western U.S. Tsunami Damage Tops $50 Million

Tsunami waves following Japan's massive earthquake are estimated to have caused more than $50 million in damage in the Western United ...

Utah Legislature Approves Legislation Restricting Accident Response Fees

Taking a proactive stance against "crash taxes," Utah legislators have approving a measure to restrict emergency response organizations ...

CEA: Japan Earthquake A Lesson for Californians

The tragic tsunamis and Magnitude 8.9 earthquake that have struck Japan the fifth largest quake in the world since 1900 are a stark ...

Direct-Link Receives $5 Million Line of Credit

Direct-Link Holding Group LLC announced that it has completed a transaction in which M&F Business Credit Inc. will provide an ...

Cavignac & Associates Names Fernandez Director of Loss Control

Rafael Fernandez has been named director of loss control and claims for Cavignac & Associates, a San Diego-based risk management and ...
International

AIR’s Japan Quake/Tsunami Insured Loss Estimates: $15 to $35 Billion

Boston-based catastrophe modeling firm AIR Worldwide's most recent statement, based on "currently available information, estimates that ...

$35 Billion Japan Quake Cost Estimate Weighs on Insurers

Shares in European insurers fell steeply on Monday after analysts estimated over the weekend that the Japanese earthquake could cost the ...

‘Unexpected Nature” of Japan Quake Complicates Insured Loss Estimates

The unexpected nature of this week's earthquake in Japan, plus the damage from the subsequent tsunami and fires, makes estimating insured ...

Credit Suisse Estimates Japan Economic Losses at $171 to $183 Billion

Economic losses in the regions of Japan that were hit by a massive earthquake will reach around 14 trillion yen to 15 trillion yen ...

Commentary: The World Responds to Japan’s Agony

The magnitude 8.9 earthquake, 6 miles down in the Japan Trench and 130 kms (81 miles) off Japan's northeast coast, triggered a tsunami that ...

Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’

A decline in shares of Japanese non-life insurers including MS&AD Insurance Group [Mitsui Sumitomo]  is expected to be temporary as ...

Aflac CEO Says Exposure to Japan Quake/Tsunami is ‘Limited’

U.S. insurer Aflac Inc , which is the largest foreign insurer in Japan, has ''rather limited'' financial exposure to the devastating ...
Sponsored Content

American Claims Management Announces New Business Relationship With Sparta

San Diego, CA, 3/14/11 - American Claims Management, Inc. (ACM) announced a new business relationship with SPARTA Insurance.  Effective ...

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New Discussions in the Forums

Anyone with opinion on EZBuy electronic signatures
Posted: Mon Mar 14 -- And good morning to you Mica. Mica why the name calling? I'm on your side my amigo. Everyone has to start somewhere. Did someone... InsureLord
Do you use online leads services?
Posted: Mon Mar 14 -- If so, who have you used and which vendors have provided the best leads? Do you get quality business out of the leads that you buy? What is... AgencyEquity
CPCU and Opportunities
Posted: Sat Mar 12 -- Hi all, I was wondering what those of you in hiring positions or with relevant experience in the industry think about the advantages of... paulbennings
Insurance can be FUN :)
Posted: Fri Mar 11 -- In my other life as a commercial underwriter with a standard market carrier I as contacted to write coverage for a metal art work piece.... LisaL
"Pay As You Go" Work Comp
Posted: Wed Mar 9 -- There is a new model being used by some carriers (KeyRisk, Preferred, Eastern Alliance) whereby the customer or their payroll firm submits... gbrach

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