Apr 21, 2011

Daily Headlines: Thursday, April 21, 2011

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Insurance Journal Daily Headlines
April 21, 2011
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Today's Headlines

National

Feinberg: BP Gulf Claims Fund ‘Working As Intended’

On the one-year anniversary of the Gulf oil spill, BP Plc is facing challenges to its effort to contain another kind of disaster: mass ...

One Year Later After BP Oil Spill, Optimism on Gulf Coast

A year after the worst U.S. offshore oil spill swamped the Gulf coast with petroleum and misery, officials Wednesday declared the hard-hit ...

Across Country, 1 in 7 Drivers Uninsured; In Some States, 1 in 4

Across the United States, chances are roughly one in seven that a driver is uninsured. The estimated percentage of uninsured motorists ...

BP Sues Halliburton for $42 Billion Over Gulf Spill

BP Plc filed a lawsuit for more than $42 billion against Halliburton, which cemented the blown-out well which caused the Gulf of Mexico oil ...

BP Sues Rig Owner Transocean and Maker of Blowout Preventer

On the first anniversary of the Gulf of Mexico oil spill, BP Plc sued Transocean , seeking at least $40 billion in damages and other costs ...

Travelers Profits Up

Improved pricing and a drop in catastrophe losses boosted Travelers profits 30 percent in the first quarter, as it beat Wall Street's ...

Hopkins to Retire from Zurich Executive Posts; Farmers Chairman

 The Zurich Financial Services Group announced that "after a 33-year career with the company Paul N. Hopkins has elected to retire as a ...

Advisory Group AAIS Elects Preferred Mutual’s Taft President

Christopher P. Taft, president and CEO of Preferred Mutual Ins. Co., New Berlin, N.Y., has been elected chairman of the American ...

W.R. Berkley Names Kamford to New Role; Welt as Senior VP

W. R. Berkley Corp. in Greenwich, Conn. has appointed Peter L. Kamford, senior vice president, to a newly created position. Kamford's new ...

Marsh & McLennan Changes Top Management Team

Marsh & McLennan Companies announced several changes to its senior management team, including the appointment of Daniel S. Glaser, 50, ...

From MyNewMarkets.com Target Markets Announces "State of Program Business" Research Project

The Target Markets Program Administrators Association (TMPAA) will begin research to document the size, characteristics, growth and other...
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East

Lightning Possible Cause of Fire at New York Condos

Authorities are trying to determine if a lightning strike from severe thunder storms sparked a fire that caused extensive damage to a ...

New York Increases Requirements for Excess Line Insurers

A new regulation that goes into effect in New York this month will force excess line insurers to triple their minimum policyholders surplus ...

Prosecutors: Pennsylvania Garage Modified Forklift For Insurance Fraud

Prosecutors in Philadelphia say an auto body repair business used a forklift fitted with car bumpers as part of large-scale insurance fraud ...

PCI Names Bell Senior Counsel

The Property Casualty Insurers Association of America (PCI) has named Michael Bell senior counsel, financial policy in the policy ...
Midwest

Ohio Work Comp Bureau Offering Safety Grants to Wholesale, Retail Employers

Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Stephen Buehrer has announced a grant program to reduce or eliminate ...

Iowa Man Accused of Beating up Boss, an Insurance Agency Owner

A 41-year-old Sioux City, Iowa, man has been accused of beating up his boss before the boss, the owner of an insurance agency, could fire ...

Cattle, Crops at Risk From North Dakota Floods, Snow

Snowstorms on top of flooding in North Dakota have not yet resulted in many cattle deaths as feared, but lingering cold, wet weather ...
Southeast

As Tennessee Debates Limits, Verdict Winners Money’s Not the Issue

A mother who won $1.5 million in court for the death of her only child says the March verdict brought her some closure, but she was too ...

Florida Jury Hits Insolvent Insurer’s Owners with $76 Million Verdict

The former owners of Aries Insurance Co. are on the hook for millions after a Miami-Dade District Court found them guilty of diverting ...

FEMA Approves $22 Million for Mississippi Homeowners’ Storm Mitigation

The Federal Emergency Management Agency has approved a $22 million grant program to strengthen homes on the Mississippi Coast against ...

North Carolina Offers Mediation for Storm Claims

Homeowners in North Carolina whose property suffered recent storm damage but had their claims denied by their insurance company may ...
South Central

Wildfires Continue in Texas; More than 1.8M Acres Burned This Year

As wildfires continue to rage in almost every region of the state, the Texas Forest Service reports that 6,061 fires and more than 1.8 ...

Oklahoma Officials Favor Exemption for Pet Kangaroo

An Oklahoma woman who said the cost of insurance and fees might force her to give up her pet kangaroo may get to keep the pet after all. ...

Third Hailstorm in Two Weeks Pounds North Texas Area

A severe line of thunderstorms extending 100 miles pounded portions of north central Texas this week producing hail as large as tennis ...
West

Calif. Businesses, Residents Urged to Consider Flood Insurance

While California may have survived this past winter's storms, experts are urging businesses and residents to consider flood insurance. The ...

9% of Californians Talk or Text While Driving

About 9 percent of California drivers talk or text on their cell phone while driving -- despite state laws that prohibit such actions. In ...

Employers Holdings Q1 Earnings to Be Announced May 5

Reno, Nev.-based Employers Holdings Inc., whose subsidiaries are specialty providers of workers' compensation insurance focused on small ...

Bolton & Co. Names Lang Senior VP

Pasadena, Calif.-based Bolton & Co. has named Jeffrey F. Lang as senior vice president property & casualty sales and marketing. He ...
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International

Aon Benfield Estimates Reinsurers’ Capital at $470 Billion

The latest edition of the Aon Benfield Aggregate (ABA) report, which analyses the year end 2010 financial position of the world's leading ...

Munich Re Ups Dividend, Comments on Impact of 2011 Disasters

Munich Re's annual general meeting (AGM) produced some good news for the shareholders of the world's largest reinsurer. It announced a ...

Doha Round Trade Talks Deadlock Puts a Price on Free Trade

Talks aimed at removing trade barriers worldwide are going nowhere after a decade, documents due out on Thursday will show, raising fears ...

UK’s Voyager Lists ‘Top 10‘ Reasons for Wedding Cancellation Insurance Claims

Voyager, a niche insurance specialist in the UK, has published the top ten reasons why couples claim on their wedding insurance on or prior ...

UK Probes Banks over Prudential’s Failed AIA Bid Say Sources

Britain is probing investment banks over insurer Prudential Plc's failed $35.5 billion bid for rival AIG's Asian business, AIA, last year, ...

Best Removes Brit Insurance from Under Review; Affirms Ratings

A.M. Best Europe Rating Services Limited has removed from under review with negative implications and affirmed the financial strength ...

ACE Appoints Cote Continental Europe Financial Lines Manager

The ACE group has announced the appointment of Nadia Cote to the position of Financial Lines Manager for Continental Europe (CE) and ...

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New Discussions in the Forums

QQ Evolution/Solution Management System?
Posted: Thu Apr 21 -- the Aspire sales guy told me that the reason they are creating aspire lite is because it will be more of an apples to apples system when... Brand
Should friend buy an AllState Agency? - Help!
Posted: Thu Apr 21 -- Hello all, I've been on the independent agency side my entire career. A friend of mine from church (age 50) is considering purchasing an... BrianBaughman
Starting an Independent Agency has never been easier
Posted: Wed Apr 20 -- which agency network did you sign up with? jackwehoca
"Houseominiums" in CA
Posted: Wed Apr 20 -- Thanks for your reply D. The issue at hand is that the CEA has effectively tied my hands as a participating insurer in their program, I'm... wrxnut25
American Interstate
Posted: Wed Apr 20 -- I am now 0/39 since my last post. i had a very good relationship with them alos - at one point touching $500k. i have talked to local rep as... FFA

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