Apr 19, 2011

Daily Headlines: Tuesday, April 19, 2011

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Insurance Journal Daily Headlines
April 19, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Will $1.6 Billion Bank of America Settlement Embolden Others?

Critics are warning that Bank of America Corp.'s $1.6 billion settlement over dodgy home loans could serve as a starting point in a fight ...

Storm Losses Largest in North Carolina and Virginia

The massive, weekend storm system that killed dozens of people, and destroyed buildings, livestock and other property as it swept east ...

Supreme Court Denies Insurance Fraud Inmate’s Bid to Cut Sentence

The Supreme Court has rejected an appeal from a convicted insurance swindler who is protesting his 835-year prison term. The court did not ...

Lockton Launches Risk Management Tool to Address Uninsurable Risks

Lockton is launching a package of risk management solutions called Enterprise Disruption Contingency Insurance designed to help companies ...

Allied World Forms New Inland Marine Division

Allied World U.S. has expanded its property & casualty (P&C) operations with the launch of a new inland marine division. The ...

From MyNewMarkets.com Insurance Industry Answers Call from Community Banks

For community banks it has been an uphill climb to restore consumer confidence and get their books back to a profitable level, which hasn't...
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East

NYC Insurance Salesman Mistakenly Gets 643 Summonses

A New York City man has been mistakenly hit with 643 summonses totaling $48,000. The Sanitation Department issued the tickets to ...

Belly Dancing Sinks New York Woman’s Disability Claim

A Staten Island woman who was getting $850 a month in alimony because she was supposedly disabled and unable to work had to give the ...

KMRD Adds Rosta, Seserko

Pennsylvania-based broker KMRD Partners has added Ryan Rosta and Melissa Seserko. Rosta will serve as sales and relationship manager. He ...
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Midwest

Notre Dame Used Old Weather Info When Student Died in Lift Accident

Notre Dame said April 18 that football staff responsible for advising whether it was safe to practice outside used out-of-date weather ...

Missouri Insurance Dept. Returns More than $2M to Consumers in Q1 2011

 The Missouri Department of Insurance reported it has helped consumers to retrieve $2.4 million from their insurance companies so far in ...

Garber Named Chief Legal Counsel at Ohio Insurance Department

Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor named Joe Garber chief legal counsel at the Ohio Department of ...

Record River Crest Looms in Valley City, N.D.

Valley City, N.D., officials hope it won't be needed, but they've posted an evacuation plan on the city web site as the battle against the ...
Southeast

Georgia Lawmakers Approve Insurance Sales Across State Lines

Legislation that would allow Georgians to purchase health insurance across state lines is on its way to Gov. Nathan Deal. The House voted ...

Mississippi Workers’ Compensation Insurers Must File Safety Plans

All carriers licensed to offer workers' compensation in Mississippi must file a summary or copy of any safety plans they offer their ...

Keystone Group Adds Four Tennessee Agencies

Keystone Insurers Group is expanding its presence in Tennessee by teaming up with four new franchise partners. E.B. Thom & Sons, ...
South Central

Austin, Texas, Fire Contained; 18 Homes Damaged

A wildfire in Austin, Texas, believed to have been sparked by a homeless man's campfire, has burned 100 acres and damaged at least 18 ...

Columbia Lloyds Names Dunn Chairman, Appoints Mann as President

Houston, Texas-based regional insurance carrier, Columbia Lloyds Insurance Co., has named Milby D. Dunn II as chairman of the board of ...

JW Wrobel & Associates Adds Innocent as Senior Underwriter

Irving, Texas-based JW Wrobel & Associates LLC has hired Kate Innocent as senior underwriter. Innocent will specialize in marketing, ...
West

Arizona Bans Accident Response Fees

The Arizona Legislature has passed a bill to stop local governments from charging accident response fees. House Bill 2003, sponsored by ...

Civil Service Employees Insurance Group Offers Up $12,000 in Student Scholarships

Walnut Creek, Calif.-based Civil Service Employees Insurance Group (CSE Insurance), is accepting applications for its 2011 CSE Youth ...

Wash. Businesses Must Fix Hazards During Citation Appeal

Washington Gov. Chris Gregoire has signed a bill into law that will require businesses fighting a Department of Labor & Industries ...

SCF Arizona Names Williams Underwriting VP

SCF Arizona, the state's largest provider of workers' compensation insurance, has named Noel A. Williams vice president of ...

PrideMark-Everest Names Sincock VP

PrideMark-Everest Insurance Services, a Leavitt Group affiliate in Santa Ana, Calif., has named Todd Sincock a vice president. His ...

Insurance Incorporated opens New California Office

Insurance Inc. has opened a new office in Fillmore, Calif., to be headed by Bill Steiger. Steiger began his insurance career in 1974 and ...

Majestic Insurance To Be Placed Into Conservatorship

Bermuda-based Majestic Capital Majestic Capital Ltd. announced that it was unable to timely file its annual report on Form 10-K with the ...
International

Summary of Re/Insurers’ Loss Estimates from Japan’s Earthquake, Tsunami

Some of the world's leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 ...

Willis Report Warns of Potential Political Violence Coverage Gaps

Companies operating in politically volatile regions of the world may soon find they are "unable to retain sufficient insurance coverage to ...

Japan’s Meiji Life Says Confidence in U.S. Bonds ‘Unshaken’

Japan's Meiji Yasuda Life plans to increase its investment in foreign bonds, focusing on dollar debt, with its confidence in U.S. ...

Lloyd's Insurer Sportscover Expands; Blunt to Underwrite Bloodstock

Lloyd's insurer Sportscover has taken another step in its plans for expansion with the announcement that it has appointed a "highly ...

CORRECTION: S&P RMS Cat Bond CreditWatch

Standard & Poor's has issued a corrective statement concerning one of the cat bond ratings listed in the bulletin it issued on April ...

Hannover Re Acquires Reinsurance Portfolio from Scottish Re

Germany's Hannover Re, the third largest global reinsurer, has reached agreement with Scottish Re (US) on the acquisition of a reinsurance ...

HDI-Gerling Expands UK Operations with New Birmingham Office

Industrial Insurance Company HDI-Gerling has announced the creation of its second UK regional Hub in Birmingham, England. The company said ...

Ratings: Syndicate 1225 (Aegis), Pacific Int’l., Int’l. Energy, Flagstone Re (Africa)

A.M. Best Europe Rating Services Limited has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of ...
Sponsored Content

Premier Group Insurance to Enter New States and Expand Operations – Appoints Rex Hickling as President

Denver, April 19 2011 – Premier Group Insurance, Inc. announced today the further expansion of its agency Property & Casualty group ...
The e-Marketing Minute is a bi-weekly video series designed to help insurance agents learn how to grow their agency utilizing the Internet. Check it out.
Insurance Journal Blogs

The Frequency Effect: An Easy Way to Make Your Ads More Memorable

Increased frequency = increased recall. That's the frequency effect. Let's look at some concrete examples. Each year, Insurance Journal ...

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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

Kentucky Daycare
Posted: Mon Apr 18 -- SFOInsuranceLady, Do you work with a California office of PHLY? The Bell Endorsement, along with their Deluxe Liability and Elite Property... RKunz2
10 ways to Increase your Agency's Profit Sharing Bonus
Posted: Mon Apr 18 -- Numbers 7 and 10 are what we're doing right now. Social media marketing has made this easier for us, but I admit it takes time to begin... jimschubert
Allied Insurance - Agency terminations.
Posted: Mon Apr 18 -- Hey Greg, My personal advice is to beat them at their own game, they stoped playing by the rules when they went after your customers,... Insurance Eagle
The Rightful Act and Duty of an Retail Insurance Manager
Posted: Mon Apr 18 -- That's the key. If compensation stays unrelated to performance you're probably going to get more of the same. Brand
Agency Management System
Posted: Sat Apr 16 -- I don't have any experience working with ITC on their agency management products, but I have worked with ITC on e-mail, web sites, etc....... Agent79
Risk Purchasing Groups
Posted: Fri Apr 15 -- Not an issue either because the application didn't ask about placing business with RPG's at all. Rob

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