Apr 26, 2011

Daily Headlines: Tuesday, April 26, 2011

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Insurance Journal Daily Headlines
April 26, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Overcapacity in P/C Insurance Keeping Commercial Prices Down

Most commercial lines insurance prices continued their downward trend in the first quarter, as underwriters' efforts to hold the line on ...

RIMS, Chartis Launch Hall of Fame for Risk Managers

The Risk and Insurance Management Society (RIMS) and global insurer Chartis have announced the formation of the Risk Management Hall of ...

Baudouin Appointed CEO of Aon Global Client Network

Aon Risk Solutions has appointed Christopher Baudouin as chief executive officer of the Aon Global Client Network. Most recently, Baudouin ...

IronPro Introduces Kidnap & Ransom Coverage

IronPro, the professional liability unit of Ironshore Inc., has introduced a kidnap & ransom product to complement its suite of ...

NFIB, EMPLOYERS Expand Work Comp Program to Additional States

The National Federation of Independent Business (NFIB) has extended  discounted workers' compensation coverage benefits to its members ...

Supreme Court Denies Fast Track for Healthcare Law Challenge

The Supreme Court refused Monday to speed up a ruling on President Barack Obama's healthcare overhaul, his signature domestic achievement ...

SEC: Mid-Size Firms Should Follow Sarbanes Oxley Internal Control

Accountants at the U.S. securities regulator are recommending that medium-size public companies should not be exempted from a key auditing ...

From MyNewMarkets.com Standard & Poor's Report: Expect Increased Volatility, Competition for D&O Insurers

The directors and officers' liability (D&O) product line could become unprofitable within the next few years--if it hasn't done so...
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East

Jury in Virginia Hearing $20M Suit Against Botox Maker

A Fredericksburg man is suing the maker of the drug Botox for more than $20 million, claiming injections to relieve writer's cramp in his ...

New York Neighbor Sues Chef over Eatery’s Trash

A neighbor says star chef and New York City restaurateur David Bouley's trash is really bugging him. W. Robert Curtis says in a lawsuit ...

Judge Tosses Worker’s Suit over NYC Office Bedbugs

A former TV news staffer's pioneering lawsuit over bedbug bites she received at her office has been thrown out by a judge who said workers ...

Top Judge on Delaware Business Court to Leave

The chief judge of Delaware's Chancery Court, whose rulings in cases involving Walt Disney Co, Hewlett Packard Co. and eBay Inc. made him ...
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Midwest

Crump Hires Landry in Cincinnati, Expands National Property Practice

John Landry has joined Crump Insurance Services Inc.'s (Crump P&C) national property practice as senior vice president in Cincinnati, ...

Extended Auto Warranty Company Settles Missouri Lawsuit for $125K

Missouri is set to receive $125,000 under a settlement with a vehicle extended service contract seller. Attorney General Chris Koster said ...
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Southeast

Tennessee Insurance Agents Win Investigation Protections, Lower Fines

Tennessee insurance agents who come under investigation by the state will enjoy some new due process protections and face lower financial ...

South Carolina Nixed Insurance for Train Victims Over Liability Fear

Legal advisers shut down a South Carolina fund proposed by Spartanburg County leaders and Gov. Nikki Haley's office that would have paid ...

Scott Joins Florida’s Corporate Insurance Advisors

Fort Lauderdale, Fla.-based insurance brokerage firm Corporate Insurance Advisors (CIA) has added Alex Scott to its team of producers as it ...

Crone Joins McCart Group in Georgia

Phillip Crone has joined The McCart Group in Georgia as managing director of business development and growth. Crone will work closely with ...

Alabama Boosts Tax Break for Small Businesses Buying Health Insurance

Alabama Gov. Robert Bentley has signed legislation increasing the state income tax deduction that small businesses get for supplying health ...

CEO of Florida’s Homeowners Choice Resigns for Personal Reasons

Homeowners Choice Inc., a Clearwater, Florida-based provider of homeowners' insurance, reported that Francis X. McCahill III has resigned ...
South Central

Hail Storm Slams Abilene, Brings Some Relief to Wildfire Area

Baseball size hail hit Abilene, Texas, on April 24 causing property damage to vehicles, homes and businesses. Hail fell from a line of ...

Officials Say Oklahoma Tornado Causing Financial Woes

A tornado that  destroyed 149 structures in Oklahoma's Atoka County on April 14 is causing a major financial strain on residents and ...
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West

Washington Special Legislative Session to Address Workers’ Comp

Washington's Legislature is being called into a special session that starts today at 9 a.m., with workers' compensation insurance among the ...

Wyoming Lawyer Disappointed in Public Censure

The Wyoming Supreme Court has issued a formal public censure of a Rock Springs attorney. The Wyoming State Bar says Clark D. Stith was ...

Lockton Adds Employee Benefits Consultants in San Jose

Four employee benefits consultants have joined Lockton in its San Jose, Calif. office: Linda Wieck, senior vice president and unit manager; ...

Oregon Sees 4 Workplace Fatalities in Q1 2011

Oregon recorded four compensable workplace fatalities in the first quarter of 2011, compared to seven compensable workplace fatalities for ...
International

Arab Political Shocks Demand Risk Rating Rethink

Attempting to predict the future, rather than imagining possible versions of it, may have blinded risk analysts to the likelihood of this ...

Global Reinsurers at ‘Critical Point’ Says Best’s Report

A new special report, compiled by A.M. Best, concludes that the "string of major catastrophes, a persistent soft market and the near ...

SCOR to Buy Aegon’s Transamerica Reinsurance Unit for $913 Million

French reinsurer SCOR is set to pay $913 million for most of Dutch insurer Aegon's Transamerica Reinsurance operations. When concluded, the ...

McLaren Group Selects Aon as Global Broker

Aon Risk Solutions, the global risk management business of Aon Corp., in the UK, has been appointed the global insurance broker for the ...

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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

Nursing Home (TX)
Posted: Tue Apr 26 -- I'm needing a good market for a nursing home. Property, CGL, BI, flood, & windstorm. Thanks! Smalltownagent
13,000 properties needing property insurance
Posted: Tue Apr 26 -- I am doing a work for Company A that provides a home rental listing service and connects home owners with people who want to rent their home... hannah.cca
How should I compensate my producers?
Posted: Mon Apr 25 -- We have found over the years that the only producers who have worked out have been commission only with no base salary. If you think about... justthere
Business Networking
Posted: Mon Apr 25 -- I have found that you have to find one that you like and go to it religiously. It took 5 months for my first sale and then it helped build... justthere
Monoline Work Comp - 9610 class code
Posted: Mon Apr 25 -- I am looking for a monoline work comp market that can cover the 9610 class code in all states including voluntary comp, but primarily in NY... SWilman
CPCU classes vs. CLU classes
Posted: Mon Apr 25 -- To keep everyone updated on my progress, I took and passed CPCU 520 on Saturday 4/23. Just got my grades this morning and got a b on it. I... bjwestner
Using a recorder for CPCU study
Posted: Mon Apr 25 -- Interesting question. I purchased a recorder for my most recent exam that I took. I did this because in taking my CLU and RHU courses, I... bjwestner
What are some creative ways to market commercial accounts?
Posted: Mon Apr 25 -- I am looking for some creative ways to market commercial clients. If you have tried something and it works I would love to hear what you... akasubowski

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