Mar 10, 2011

Daily Headlines: Thursday, March 10, 2011

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Insurance Journal Daily Headlines
March 10, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Soft Market Is Ending, Really It Is, Says SNL Financial

Could the soft market finally be over? A new analysis concludes that insurance prices are rising and the prolonged soft market is ending, ...

Ex-AIG CEO Greenberg: Judge in New York AG Case Biased

Maurice "Hank'' Greenberg, the former American International Group Inc. chief executive, said the judge overseeing a New York attorney ...

Senate Passes Patent Reform, 95-5

The U.S. Senate voted overwhelmingly to overhaul U.S. patent laws, backing a measure aimed at chipping away at a huge backlog of patent ...

AIG Has Plan to Protect Tax Assets

Bailed-out insurer American International Group Inc. set up a plan to protect tens of billions of dollars in valuable tax assets by ...

Ratings Recap: Blue Whale Re, Michigan Millers, Constitutional

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

XL Insurance Names Purvis President of North America Programs

XL Insurance has expanded its North America Programs team with the appointment of three executives including Quinnon (Pete) K. Purvis. ...

From MyNewMarkets.com MyNewMarkets.com Call For Article Submissions & Guidelines

MyNewMarkets.com welcomes submissions of story ideas and bylined articles. Below you will find a basic guideline on how to submit a story...
East

Maine Gets Break in Federal Health Care Overhaul

The federal government has granted Maine a waiver of a key provision in President Obama's health care overhaul, citing the likelihood that ...

Aspen Launches U.S. Surety Unit

Specialty insurer Aspen has established a surety unit that will focus on public and private commercial and non-construction surety. Michael ...

RCM&D Buys TRION’s Commercial P&C Division

Baltimore-based Insurance broker RCM&D acquired the commercial property and casualty insurance division of Philadelphia-based TRION ...
Midwest

Ohio’s Norman-Spencer Agency Appoints New President, Other Executives

Norman-Spencer Agency of Dayton, Ohio, has named Brian Norman as president. The company also announced other appointments to its management ...

Western National Welcomes Corning to Management Team

Western National Insurance Group (WNIG) of Edina, Minn., announced that Peter H. Corning has joined the group as senior vice president of ...

Insurer Group Testifies in Support of Kansas Bill Banning 'Crash' Taxes

The American Insurance Association (AIA) announced it testified in favor of legislation in Kansas-House Bill 2119-that would ...

Nationwide Insurance Lowering Ohio Car Insurance Rates 10% for New Customers

Nationwide Insurance Company announced it is lowering car insurance rates in Ohio 10 percent for new customers. The company is also ...
Southeast

Georgia Court Rules Commercial Liability Policy Covers Faulty Work

A general contractor can recover from its subcontractor's insurers for the cost of repairs for damage to surrounding property resulting ...

West Virginia’s BrickStreet Won’t Insure Firefighters, State Agencies

The company created by West Virginia to provide workers' compensation insurance no longer wants to cover state agencies, prompting ...

BP Oil Spill Claims Chief Feinberg to Face Florida Lawmakers

The man in charge of paying BP claims for the Gulf oil spill will soon face a Florida legislative committee to answer questions about how ...

Lockton Expands with North Carolina Office

Privately-held insurance broker Lockton is expanding its reach into the Carolinas by opening an office in Charlotte, North Carolina. The ...
South Central

Lawmaker Files Texas Windstorm Insurance Association Reform Bill

Texas State Rep. Larry Taylor, R-Friendswood, has introduced House Bill 2818, a comprehensive reform effort intended to address many of the ...

Texas Workers' Comp Enforcements for February Include $40K in Fines

Texas Commissioner of Workers' Compensation Rod Bordelon recently announced final disciplinary actions taken by the Texas Department of ...

Capson Physicians Insurance Licensed in Six More States

Austin, Texas-based Capson Physicians Insurance Co. announced it is licensed to underwrite in six additional states: Alaska, Arizona, ...
Sponsored today by: Texas Mutual Insurance Company. 'They're the best workers' compensation company that we work with.'. Texas Mutual Insurance Company. Here for Texas, Here to Stay. Click here for more information.
West

Oregon to Net $3.6 Million From AIG Settlement

Oregon will receive about $3.6 million as part of a multi-state settlement with the American International Group (AIG) over misreporting of ...

Montana Proposal Asks for Lawsuit Protection for Referees

A proposal before Montana House lawmakers says referees need better lawsuit protection when officiating athletic events in the state. ...

Idaho Companies Could Get Break on Workers’ Comp Taxes

Idaho companies could receive a $3.2 million break on taxes they pay on their workers' compensation premiums over the next two years. The ...

NAS Insurance Appoints Lloyd Chief Operations Officer

NAS Insurance Services has named David Lloyd chief operations officer, with oversight of operations, online business development and agency ...

Heffernan Insurance Brokers Adds Murphy to Board

Walnut Creek, Calif.-based Heffernan Insurance Brokers has added Leslie Murphy to its board of directors. Murphy has been the CEO of W. ...
International

Damage Claims Threaten Munich Re’s 2011 Profit Goal

Heavy damage claims from an earthquake, floods and a storm this year will put Munich Re's full-year profit goal at risk if claims do not ...

Lloyd’s Opens New Office in Rotterdam

 Lloyd's described the opening of its new office in the Dutch port city of Rotterdam as "embracing its marine roots." They go back over ...

Catlin’s preliminary NZ Quake Loss Estimates app. $125 million

The Bermuda-based Catlin Group Limited announced a preliminary estimate of the financial impact of the February 22nd earthquake, which ...

XL Estimates NZ Quake Losses at $70 to $85 Million

XL Group plc has announced preliminary net loss estimates for the earthquake that struck Christchurch, New Zealand on February 22, 2011, ...

Aon Risk Solutions Beefs Up, Restructures UK Professions Team

Aon Risk Solutions, the global risk management business of Aon Corporation, announced that it has appointed new leaders for its Professions ...

Ratings Roundup: Arab Union, GBG

A.M. Best Europe - Rating Services Limited has placed under review with negative implications the financial strength rating of 'B' (Fair) ...
Insurance Journal Blogs

Without Website Analytics, You're Throwing Darts in the Dark!

Does your company have web analytics software in place? If not, then let this be a wake-up call. You are not just missing an important ...

Best Practices - Workflows

A workflow consists of a sequence of connected steps. It is a depiction of a sequence of operations, declared as work of a person, a group of persons, an ...
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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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How November Elections Changed Insurance Power in Washington

The November elections brought change to Washington as Republicans took control of the House...

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New Discussions in the Forums

Anyone with opinion on EZBuy electronic signatures
Posted: Thu Mar 10 -- If you do not physically meet with the insured, how do you do your OFAC compliance? How do you verify they are the person in the government... darnovak
Insurance can be FUN :)
Posted: Wed Mar 9 -- I had a prospect call me a few years back, was starting up a business and needed insurance. I began by asking him the usual questions, and... Island Girl Agent
"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
Auto driven on a racetrack - NY PAP excludes
Posted: Tue Mar 8 -- Anyone know of any carriers that will provide primary Liability and Physical Damage in NY for a personal auto being taken to a racetrack... darnovak
WA Restaurant / B&B in Historic home
Posted: Tue Mar 8 -- I work in a Nonadmitted or Surplus Line environment and could underwrite that risk for you. Let me know if you are interested. SL Informant
CPCU classes vs. CLU classes
Posted: Tue Mar 8 -- bjwestner not yet. I am scheduled to take the exam on April 15. Congratulations on your passing too. Victoria860

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