Mar 1, 2011

Daily Headlines: Tuesday, March 1, 2011

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Insurance Journal Daily Headlines
March 1, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

President Obama Backs Flexibility for States on Healthcare Law

President Barack Obama extended an olive branch on Monday to U.S. states struggling to implement his healthcare law, offering support for a ...

MBIA Shareholder Lawsuit Revived by Federal Appeals Court

A federal appeals court on Monday gave new life to a shareholder lawsuit accusing MBIA Inc of securities fraud over a reinsurance ...

Allstate Sues Another Lender, Credit Suisse, Over Mortgage Securities

Allstate Corp. on Monday sued Credit Suisse Group AG, accusing the Swiss bank of causing losses by hiding the risks on $232 million of ...

New Product Safety Database Under Scrutiny

It's something Nikki Johns wishes had been around before her infant son died in a drop-side crib: a centralized federal database of ...

S&P Lowers Chartis’ Ratings to ‘A’; Outlook Changed to Stable

Standard & Poor's Ratings Services has lowered its counterparty credit and financial strength ratings on American International Group ...

Chubb Launches E&O, GL Insurance Policy for Life Sciences Firms

The Chubb Group of Insurance Companies is offering new errors and omissions (E&O) and general liability insurance policies to address ...

NIP Programs Launches Medical PL for Physicians Assistants

NIP Programs, a division of NIP Group, Inc. has introduced MedEdge for Physician Assistants, a new personal, customizable professional ...

Association Seeks Outstanding Insurance Marketing, Communications

The Insurance Marketing Communications Association has announced a worldwide call for entries for its IMCA Showcase Awards. These are the ...

From MyNewMarkets.com Demand for Agricultural Insurance Expected to Grow

The agricultural insurance market is facing rising demand along with pressures to adapt to changes in farming and to become more efficient...
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East

New Jersey Seeks Premium Refunds for Scrapped Tunnel Project

New Jersey is negotiating to reclaim part of nearly $162 million paid to insure the Hudson River rail tunnel project that Gov. Chris ...

Virginia Wildfires Still Going a Week Later

Virginia fire officials say it may be two weeks before wildfires in Rockingham County are fully contained. Fire officials tell WHSV-TV the ...
Midwest

Fritts-Million Insurance Joins ISU Network

Fritts-Million Insurance of Mt. Sterling, Kentucky has joined the ISU Network. ISU Fritts-Million Insurance was founded by the late James ...

Midwest Employers Casualty Creates Healthcare Risk Management Practice

St. Louis, Mo.-based workers' compensation excess insurer, Midwest Employers Casualty Co. (MECC), announced it has launched a Healthcare ...

Baldwin & Lyons Promotes 3 in Management Team

Baldwin & Lyons Inc., headquartered in Indianapolis, Ind., announced it has promoted Mark Bonini to executive vice president of Sales, ...

Signature Select Hires Three in Kansas City

Denver-based Signature Select LLC, a retail insurance broker subsidiary of The IMA Financial Group Inc., has expanded its commercial lines ...
Southeast

Florida Interests Unite Against Auto Accident Fraud

Florida insurers, government agencies and consumer advocate groups have established a statewide alliance to push for legislative reforms ...

Security Officer at Massey West Virginia Mine Charged in Probe

The head of security at Massey Energy's Upper Big Branch mine was arrested Monday on charges he impeded investigators and lied to them as ...
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South Central

Louisiana Insurance Commissioner: Rebates, Incentives Available to Homeowners

Louisiana Insurance Commissioner Jim Donelon wants property insurance policyholders in his state to claim a possible rebate for the ...

York Specialized Loss Adjusting Acquires Texas-based BC Johnson Assoc.

York Specialized Loss Adjusting (York SLA), a division of New Jersey-based York Risk Services Group Inc., announced it has acquired BC ...

Texas Regulators Move to Take Over Windstorm Insurance Association

The Texas Department of Insurance has informed the director of the state's property insurance company of last resort for wind in the ...
West

California Proposes to Disable Itself From Taxing 100% of Surplus Lines Premium

A California legislator has proposed a surplus lines bill - one effect of which will reduce California's surplus lines premium tax ...

Idaho Bill Says Driving & Texting OK, As Long As Driver Isn’t Distracted

An Idaho House representative has proposed a bill to allow people to text and drive -- as long as they're not distracted. House Bill 141, ...

2 San Diego Insurance Women Receive Awards

San Diego Insurance Women affiliated with the National Association of Insurance Women International announced that two of its members were ...

21st Century Insurance Recognized for Good Customer Service

Westlake Village, Calif.-based 21st Century Insurance has been recognized for call center operation customer satisfaction excellence for a ...

New Mexico Rejects Bill to Ban Illegal Immigrant Drivers Licenses

New Mexico's Senate has rejected Republican-backed proposals to stop the state from issuing driver's licenses to illegal immigrants. Two ...

New Mexico Fraud Bill Would Allow Judges to Aggregate Claims

The New Mexico Senate has passed a bill giving judges authority to aggregate the dollar amount of false insurance claims to determine the ...
International

EU Court Rules Insurers Cannot Link Risks to Gender

Insurance companies cannot take gender into account when setting premiums and paying out benefits from annuities and retirement savings or ...

QBE Group Posts $1.278 Billion 2010 Net Profit; $1.168 Billion Underwriting

The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion ...

Validus Comments on NZ Quake Loss Estimates; Q1 Loss Activity

Bermuda-based Validus Holdings, Ltd. Has issued a comment on worldwide loss activity occurring in the first quarter of 2011, including the ...

Flagstone Re Estimates $60-$80 Mn in Queensland Losses; NZ Quake in Process

Flagstone Reinsurance Holdings announced that its preliminary estimate from loss events that have occurred in Australia in the first ...

Zurich Reduces New China Life Stake to 15%

The Zurich Financial Services Group announced that it has it reduced its 20 percent stake in New China Life Insurance Co., Ltd. to 15 ...

S&P: Capital Remains ‘Key Rating Consideration’ for Multiline Insurers

Standard & Poor's Ratings Services said that in its opinion "global multiline insurers' (GMIs) capital positions have recovered ...

Chang Named Starr Casualty, Greater China Underwriting Manager

Hong Kong-based Starr International Company, Inc. has announced the appointment of Irene Chang as Underwriting Manager of Starr Casualty ...

Ratings Recap: Eurasia, Energas, Compania Internacional

A.M. Best Europe - Rating Services Limited has upgraded the issuer credit rating (ICR) to "bbb+" from "bbb" and affirmed the financial ...
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New Discussions in the Forums

Risk in Ca Trucking hauling hazardous
Posted: Tue Mar 1 -- Risk in Ca, New venture needing, gl, phys dam, truck liability, and cargo. LA County Who seems to be the hazmat players out there?... trotter
Handyman, Gen Liability
Posted: Mon Feb 28 -- Colony is very aggressive on this class in California. However, your risk does not sound like a handyman, with $300,000 in payroll. In... LadyBroker
FBI Agent 'Joyrides' Stolen Farrari and Crashes
Posted: Mon Feb 28 -- Didn't that happen in Beverly Hills Cop 2 ? sacman
Membership in a cluster group
Posted: Mon Feb 28 -- More and more agencies are joining clusters and membership in these organizations is probably at an all time high. The biggest reason for... AgencyEquity
The Great Search Is On
Posted: Sat Feb 26 -- I have to say I think there is a problem here. Most insurance policies pay a commission around 15%, regardless of loss. For an agent to make... mica.cooper
Diminishing Role of the Agent for P&C Insurance
Posted: Sat Feb 26 -- While younger people do use the internet more and do more on it, please keep in mind, these "younger people" are 50 and younger as the... AgencyEquity
How hard does your agency push umbrella coverage?
Posted: Fri Feb 25 -- Brenda, That is an excellent practice, it's keeps E&O claims away and makes sure your clients are properly protected. You are absolutely... AgencyEquity
National Agents Alliance? Legit or Keep Away?
Posted: Fri Feb 25 -- Thanks for the info! Yeah, I decided to get licensed with them as well. There's so many concepts that I like, and from what I've researched,... pontiac

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