Apr 27, 2011

Daily Headlines: Wednesday, April 27, 2011

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Insurance Journal Daily Headlines
April 27, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Marsh Agrees: Soft Pricing Persisted Despite Catastrophe Losses in Q1

Catastrophe losses approached record levels in the first quarter but despite this commercial property/casualty insurance rate increases ...

Electric Cars Get Top Insurance Safety Rating

The Chevrolet Volt and Nissan Leaf got top safety ratings in some of the first-ever tests of electric cars by an insurer-funded research ...

Supreme Court Hears Securities Fraud Loss Causation Arguments

The U.S. Supreme Court considered Monday whether to make it more difficult for shareholders to proceed with certain class-action ...

Peerless Insurance Adds 40-Plus Business Classes to Small Commercial Program

Peerless Insurance, a Liberty Mutual Agency Corp. regional company, has expanded its small commercial appetite with the addition of more ...

Gallagher Higher Education, InsureMyTrip Launch Trip Cancellation Program

The Higher Education Practice of Arthur J. Gallagher Risk Management Services, Inc. (Gallagher), has created a new trip cancellation and ...

From MyNewMarkets.com MLR Dramatically Impacting Commissions, Agents Tell Regulators

"The impact of the medical loss ratio has been dramatic on the agents and brokers in this country and it was dramatic immediately." That's a...
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East

Spring Flooding Renews Concerns over Flood Program

For agents across much of the Northeast, the last month has brought spates of spring flooding and storms and has served as a reminder ...

Boys Drive Excavator at Pennsylvania Mine, Smash Bulldozer

Pennsylvania State police say two boys, ages 12 and 9, drove a large excavator at a southwestern Pennsylvania strip mine, smashing a ...

New York City Fire Building Cited for Violations

Building records show that a Bronx row house where a fire killed a 12-year-old boy and his parents had been illegally subdivided. Other ...

XS Brokers Hires Finneran

XS Brokers Insurance Agency has added David Finneran to the firm's professional lines practice. Finneran most recently worked with ...
Midwest

Missouri Governor Condemns Discrimination Law Changes

Missouri Gov. Jay Nixon spoke out April 25 against legislation that would make it harder for employees to prove they were fired because ...

Hylant Group Promotes Kranz, Bryant in Environmental Practice Group

Ohio-based Hylant Group, one of the largest privately owned insurance brokerage firms in the nation, has promoted two insurance industry ...
Southeast

Mississippi River Nears Highest Levels Since 1937

The National Weather Service has forecast that the Mississippi River will crest at Vicksburg and Natchez at the highest levels since 1937. ...

Strate Insurance Becomes Keystone Insurer Partner in Tennessee

Strate Insurance Group Inc. of Morristown has become Keystone Insurers Group's sixth franchise partner in Tennessee. Strate Insurance ...

Florida’s Lykes Insurance Appoints 3 Risk Consultants

A Florida commercial insurance agency, Lykes Insurance, has named three new risk consultants. Josh Helmut began his career in 2006 at Risk ...
South Central

New Orleans Construction Product Supplier Settles in Chinese Drywall Suit

 A settlement agreement has been reached with a New Orleans, La.-based supplier of tainted Chinese drywall in the multi-district ...

Storms Leave 5 Dead in Arkansas, All But Wipe Out Town

 Even as darkness cloaked Vilonia, people in the central Arkansas community could glimpse hints of the damage from violent storms that ...
West

Nevada Assembly Approves Low-Cost Auto Insurance Program

The Nevada Assembly has passed a bill to implement a low-cost auto insurance pilot program, with an assessment on motor vehicle liability ...

Calif. Woman Wins $400,000 in Slip & Fall Case

Larry Ellison is famous for wanting to be in charge, so perhaps it is no surprise that when jury duty came calling, Oracle's chief ...

EPIC Names Reidy Principal in San Francisco

EPIC (Edgewood Partners Insurance Center), a retail property, casualty insurance brokerage and employee benefits consultant, has added ...
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International

First Quarter Earnings Reports: Arch Capital, RenaissanceRe

Arch's bulletin noted that the company's 2011 first quarter results "included losses for current year catastrophic events of $178.7 million, net ...

S&P: Japan’s Rating Outlook Now Negative on Quake Costs; Affirms Debt Ratings

Standard and Poor's threatened to cut Japan's sovereign credit rating again, warning the huge cost of last month's devastating earthquake ...

Weather Forecasters Agree on Active 2011 Atlantic Hurricane Season

Weather Service International [WSI] forecasters predicted an active 2011 Atlantic hurricane season Tuesday, with 15 named storms, eight of ...

Five Japan Life Insurers Eye Unhedged Foreign Bonds; See Weaker Yen

Five Japanese life insurers say they may buy more unhedged foreign bonds, believing that the yen is likely to weaken and that the currency ...

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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

13,000 properties needing property insurance
Posted: Wed Apr 27 -- PART TWO - We all know that you can rent part of your house on a permanent basis and all of your house on an occasional basis and still have... RKunz2
What are some creative ways to market commercial accounts?
Posted: Wed Apr 27 -- One of the most important activities you can do for your business is to create a unique marketing plan. Now, I don't mean do something... Shane01
Coastal Condominium Buildings
Posted: Tue Apr 26 -- Was just curious to see if anyone has any recommendations on markets that have an appetite for condominium associations with a TIV of 1.9... SCIG

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