Mar 21, 2011

Daily Headlines: Monday, March 21, 2011

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Insurance Journal Daily Headlines
March 21, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

U.S. Nuclear Plants to Undergo Safety Reviews

The Nuclear Regulatory Commission will conduct a "comprehensive review'' of the safety of all U.S. nuclear plants following what U.S. ...

Ratings: Berkshire Hathaway/Lubrizol; First Mercury, Mennonite

Standard & Poor's Ratings Services has stated that the ratings on "Berkshire Hathaway Inc. (BRK; AA+/Stable/A-1+) and its insurance ...

AIG Estimates $1 Billion in Q1 Catastrophe Losses, Most from Japan

American International Group Inc. said it would post an estimated $1 billion in pre-tax catastrophe losses in the first quarter, mostly ...

From MyNewMarkets.com Tech Risks to Watch in 2011

The constant innovation indigenous to the technology industry may make the idea of risk management seem difficult and sometimes impossible....
East

Virginia Man Wins $25M in Lawsuit Against Exxon

A jury awarded a former shipyard employee $25 million Thursday in his lawsuit against Exxon for asbestos-related medical problems. The ...

Former New York Lawmaker Faces Prison for Insurance Fraud

A former Long Island lawmaker faces up to 15 years in prison when he is sentenced today in a Hamptons fraud case. George Guldi was ...

New Jersey Captive Group Appoints Board

The New Jersey Captive Insurance Association (NJCIA) has appointed a seven-member advisory board, which will assist the group in guiding ...
Midwest

3M Settles Age-Discrimination Suit for Up to $12M

Minnesota's 3M Co. has agreed to pay up to $12 million to settle an age-discrimination lawsuit with as many as 7,000 current and former ...

Missouri Conservatives Back Health Insurance Exchanges

Nearly one year after a federal law overhauling the nation's health care system was enacted, Missouri lawmakers have taken a small step ...

North Dakota Insurance Commissioner Says Fraud Referrals Are Up

The North Dakota Insurance Department says fraud referrals have been doubling since 2008. The Jamestown Sun reports that the 94 referrals ...

Ohio Doctor’s Office Raided in Crackdown on Drug Abuse in Comp System

As part of an investigation into prescription drug abuse in the state, Ohio law enforcement officials and workers' compensation bureau ...
Southeast

Florida Lowers Collateral for 9th Reinsurer, Montpelier Re

The ninth foreign reinsurer is taking advantage of a Florida law that allows it to post a lower collateral amount while still conducting ...

Mississippi College Football Player Sues Nightclub Over Shooting

A University of Southern Mississippi football player shot outside Remington's Hunt Club has sued the business and its owner for $87 million ...
South Central

Louisiana Citizens Property Insurance Corp. Rates to Rise July 1

The governing board of Louisiana's insurer of last resort has approved an average 6.5 percent annual rate increase for its 119,000 ...

Arkansas Economy Less Affected by Recession

Arkansas' economy has been less affected by the national recession than most other states because of its concentration on agricultural ...
West

2 Worker's Comp Fixes at Odds in Washington State

Rep. Mike Sells didn't mince words. The Everett, Wash., Democrat doesn't plan to allow a hearing in his committee on a state Senate bill ...

Interpreter Lien Claimant Must Prove Its Services Were Necessary

To provide medical treatment to an injured worker, an employer must provide reasonably required interpreter services if the injured worker ...

Time Cushion Sought for Medical Malpractice Cases in Nevada

A Nevada bill giving patients a time cushion to file an expert witness affidavit required for medical malpractice lawsuits was touted by ...

Gov. Brown Declares Emergency in 2 More Calif. Counties

California Gov. Jerry Brown has declared a state of emergency for two more coastal counties hit by last week's tsunami. The governor issued ...
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International

Swiss Re Estimates Japan Earthquake, Tsunami Claims at $1.2 Billion

Swiss Re has released a preliminary estimate of its claims costs, net of retrocession and before tax, from the earthquake and the tsunami ...

Alliant Issues New Report on Insurable Risks in 175 Countries

The Markets Group of Alliant Insurance Services  has compiled a comprehensive report - the 2011 Global Macro Risk Ratings - which examines ...

S&P Says Rating Actions on Japan Insurers Unlikely

Standard & Poor's Tokyo office has issued a comment noting that by some estimates the total damages from the March 11 Japanese ...

Wilkinson to Lead Willis’ Realigned International Business

The International unit of global insurance broker Willis Group Holdings announced that it is aligning its Asia Pacific business with its ...

Alterra at Lloyd's Appoints Abrahams Sr. Property Underwriter

Bermuda-based Alterra Capital Holdings Limited has announced the appointment of Mark Abrahams as Property Insurance Underwriting Manager ...

Ratings Roundup: NAGICO, Transmonde

A.M. Best Co. has affirmed the financial strength ratings of 'B++' (Good) and issuer credit ratings of "bbb" of National General ...
Insurance Journal Blogs

Come along for a ride with Jason Verlinde

I recently went on my own ride to Michigan for the Michigan YIP's  Winter Get-Away! I was invited to teach a class on Generational ...

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Insurance Journal TV

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Soft Market Is Finally Ending, Really, Says SNL Financial

Could the long soft market really be over? Several recent reports concluded it is not over....
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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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New Discussions in the Forums

Open your doors and look what comes in...
Posted: Mon Mar 21 -- Well, at least for me, my search engine optimization is working...last week an unsolicited quote request arrived via email. The initial... d's insurance store
"Pay As You Go" Work Comp
Posted: Mon Mar 21 -- We have been offering a Pay As You Go approach - PMC PayGo, for nearly 2 yrs. It is avaialble/approved with 3 National Carriers and growing.... dmalloy
Online Insurance Shoppers
Posted: Fri Mar 18 -- I'm assuming that shoppers here will end up as buyers. After all, there are a lot more fun things to do than "shop" for insurance online.... InsureLord
National Agents Alliance? Legit or Keep Away?
Posted: Fri Mar 18 -- To All: I am currently with NAA, love it and live it. We should try and stay positive for those that like, enjoy, or are just starting to... placidsolace
What is your broker of record policy?
Posted: Fri Mar 18 -- Dear AgencyEquity, There's a very real and specific need for BOR letters; however, I find personally that they are largely abused in the... RKunz2
Speed boat/Texas
Posted: Fri Mar 18 -- Dear BobbyCounts, To the best of my knowledge, the Progressives and Foremosts of the world are not going to insure a boat with near 100 mph... RKunz2
FSC Pipeline anyone?
Posted: Fri Mar 18 -- I have to 2nd Russman's plug. I've known Paul for a long time....since his Applied days. Quality individual. I know the development staff at... choicenotchance
Commercial Auto
Posted: Thu Mar 17 -- Anyone aware of an underwriting facility, writing standalone commercial auto accounts that deals with wholesalers. Thinking as respects FL... Neal Ecker

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