Daily Headlines: Wednesday, April 6, 2011

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April 6, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Reinsurance Rates Rising, But Few Agree Where, How Much Reinsurance rates may be edging higher only now, but the companies' shares could still surge amid investor hopes that disasters, including ... Report Tallies Economic Costs of Violence to States States with the most violence are spending billions of dollars on medical care and prisons and recording lower productivity than more ... Survey Shows Agents Concerned on Perpetuation; Few Take Action The majority of agents and brokers today worry about how to perpetuate their firm to future owners, yet few agency owners report having a ... Commercial Insurance Pricing Cuts Slowed in March Commercial insurers moderated their rate reductions in March, and coastal property accounts actually saw increases, the latest insurance ... AIG CEO Benmosche Open to Staying at Helm Past 2012 Robert Benmosche, who has revived the fortunes of bailed-out insurer American International Group , said Tuesday he might consider staying ... Senate Sends Repeal of Healthcare Law’s 1099 Tax Provision to Obama In an 87-12 vote, the Senate has passed a repeal of the new IRS 1099 tax reporting provision contained in the major federal healthcare ... Travelers Introduces Crisis Management Expenses Endorsement Travelers has introduced a new crisis management expenses endorsement for commercial umbrella policies to help mitigate the negative ... Happy 100th Birthday Workers' Compensation: The Great Tradeoff! Happy 100th Birthday Workers' Compensation: Now What ? This year marks the 100th anniversary of the workers' compensation system in the U.S.... More National News Writing E&O policies? Join us Thursday Join us for a breakdown of the E&O policy form and learn common exclusions, enhancements and how to properly insure your client's exposures. Live training Thursday, April 7. Plus get the recordings so you don't miss anything! Learn more and reserve your seat today East Massachusetts Mom Sues Rhode Island Bakery over Tainted Pastries A Massachusetts woman is suing a Rhode Island bakery alleging that its pastries gave her son salmonella. Attorneys for Erin Carrera filed ... Western World Insurance Adds Two Execs New Jersey-based Western World Insurance Group has added two new executives. Bob Montone will serve as second vice president of property ... KnightBrook Enters Lawyer's Liability Market in Pa. KnightBrook Insurance Co., a premier specialty insurance company underwriting niche program business, will be entering the legal ... More East News Midwest Wisconsin Passes Bill to Reduce Auto Liability Coverage Minimums Insurers are praising the passage in Wisconsin of a bill that would reduce the mandatory minimum auto insurance liability limits in that ... More Midwest News Southeast Mississippi Gov. Barbour Vetoes Insurance Verification Bill, Seeks Fix Mississippi Governor Haley Barbour has vetoed a bill to set up an electronic system to verify that drivers have auto insurance, a program ... South Carolina Courts Told to Clear Backlog of Drunk Driving Cases South Carolina's top judge has ordered courts across the state to clear a backlog of thousands of drunken driving cases after state ... Rowell Joins Woodruff-Sawyer & Co. in Atlanta San Francisco-based Woodruff-Sawyer & Co. announced that Harry (Beau) Rowell has joined the firm as vice president of risk solutions. ... Florida’s Security First Promotes Kruck, Reynolds Florida-based homeowners insurance provider, Security First Insurance Co., has appointed Werner E. Kruck as chief operating officer and ... More Southeast News South Central Bill to Cap Civil Damages Passed by Oklahoma Legislature A Republican-sponsored proposal to cap damages for pain and suffering in civil lawsuits to $350,000 headed to the governor's desk after the ... Texas Sees Rise in Workers' Comp Medical Cost per Claim Medical costs per claim in Texas rose 8 percent in 2008, after a period of declining costs following reforms enacted in 2001 and 2005, and ... Insurance Network of Texas Opens New Location Insurance Network of Texas has opened a new location in Rockwall, Texas. The Rockwall office is the ninth location for the growing company, ... Investigator Defends Safety Tests in BP Disaster An investigator who examined the safety device that failed to prevent last year's BP oil spill said Monday his firm did not skip critical ... More South Central News West Ariz. Court Says Parents Liable for Kids’ Wrecks The Arizona Supreme Court has ruled that parents of minors are on the hook financially for auto accidents that occur, even when the ... EPIC Adds Pierro Jr. as Principal in Los Angeles EPIC (Edgewood Partners Insurance Center), a retail property, casualty insurance brokerage and employee benefits consultant, has added ... CBIZ Employee SErvices Names Barberio VP in Phoenix CBIZ Employee Services, a division of CBIZ Inc., has added Mike Barberio as the vice president at the company's Phoenix location. ... More West News International Japan Quake Reveals Cracks in Insurance System – Part II The first part of this article appeared on the IJ's web site on April 5. PRICE PRESSURE Earthquakes may not be linked to each other, but ... Financial Consultant Bjelobaba Analyzes Changing UK Regulations The UK's Conservative government announced, even before it was elected, that it planned to reform the country's financial regulatory system ... Arguments over Agenda Stall U.N. Climate Talks U.N. climate talks remained deadlocked on Wednesday over a debate on the agenda for negotiations, with developing countries pushing hard ... Lloyd’s Chaucer in Deal for First Russian Coverholder Chaucer Syndicates Limited announced a new partnership with Nakhodka Re in Moscow and RFIB Ltd in London to launch SeaLine, as the first ... Hub International Acquires Vancouver-based Redcliffe Hub International Limited announced that it has acquired Redcliffe Financial Group, a Vancouver, British Columbia-based employee benefits ... More International News Join the Insurance Journal Network Insurance Journal TV 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.... Watch Now Will Deficit Debate Affect Flood Insurance? Taxes? Following the November elections, Congress and the White House, as well as states, have... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Continuing Education ... Masters Degree in Insurance? Posted: Tue Apr 5 -- I agree with in that the CIC, CRM, AAIS and CPCU designations, to name a few, will carry as much weight and possibly a bit more than a... gregcw QQ Evolution/Solution Management System? Posted: Tue Apr 5 -- We bought the Applied TAM system late last year. We're a small agency, 5 people. They have already had a rate increase (worse than our... Agent79 Looking for an opinion Posted: Tue Apr 5 -- I am currently a captive agent and want to go Independent next year. I am little by little building an agency and specialized in a... Mannyace National Agents Alliance? Legit or Keep Away? Posted: Tue Apr 5 -- The key to finding out more about a Cluster or Alliance type group is to talk to agency members of a given group. One member is only one... AgencyEquity Agency Management System Posted: Mon Apr 4 -- Have done demos of Partner XE and Hawksoft and am torn. Both seem to do what we need and expect with Partner XE having a leg up due to the... jbsmithtx PA Dog Liability to meet State Requirements Posted: Thu Mar 31 -- Traveler will not write it. I do not know any company will wirte dog with history of bitten pecosins Agency Appointment/ Agent Certification Posted: Wed Mar 30 -- Not sure about your state, but in my state, the insurance laws prohibit an agent from setting up shop merely to handle family... 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