May 2, 2011

Daily Headlines: Monday, May 2, 2011

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Insurance Journal Daily Headlines
May 2, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Marsh: Captive Owners Bolstered Capital Positions During Downturn

Over the last few years organizations took action to strengthen the financial position of their captive insurance company operations, while ...

Property Rates to Rise From Catastrophes, Revised Cat Model

Property insurance rates could be on the rise thanks to first quarter catastrophe losses, including the earthquake and tsunami in Japan, ...

Survey: Businesses Not Doing Enough to Protect Against Discrimination; ID Theft

Nearly a third of Americans report that businesses are not doing enough to protect them from workplace discrimination and identity ...

AIR Assesses Catastrophe Risk of Industrial, Renewable Energy Facilities

Catastrophe modeling firm AIR Worldwide (AIR) has expanded its catastrophe risk engineering services to cover industrial and renewable ...

Best Downgrades Universal Casualty; Other Kingsway Subs under Review

A.M. Best Co. has downgraded the financial strength rating (FSR) to 'D' (Poor) from 'B-' (Fair) and issuer credit rating (ICR) to "c" ...

Best Affirms Harleysville Group and Subs Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of ...

Ratings Recap: SCOR (US), Majestic

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings of "a" of the life and non-life ...

General Star Makes Changes to Fuel Oil Program

General Star has made a number of changes to its umbrella fuel oil program, distributed exclusively by program administrator S. H. Smith ...

Markel Corp. Enhances Not-for-Profit Management Liability Products

Markel Corp. has enhanced their management liability suite of products.  These changes are an expansion of Markel's capabilities ...

From MyNewMarkets.com Lawyers Market in Limbo, Say Agents

The lawyers professional liability market has been in flux recently, and insiders say carrier uncertainty and a strain on capacity are to...
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East

Weather Service: Deadliest Year for Tornadoes in Virginia

Days after a series of tornadoes blew through Virginia, officials still are trying to determine exactly how much damage was done and what ...

Gymnast Sues Time Warner, Others for $1.8B in New York City

A former champion Chinese gymnast has filed a $1.8 billion lawsuit in federal court against Time Warner Inc. and the United States ...

Pataky Joins Hays Cos. in D.C.

Hays Cos. of Washington, D.C. has named Shari Pataky senior vice president. She will focus on professional liability insurance and affinity ...
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Midwest

Missouri Governor Vetoes Workplace Discrimination Measure

Missouri Gov. Jay Nixon has vetoed legislation that would have changed the legal standard workers must meet when they file discrimination ...

Missouri Jury Awards $48 Million in Skydiving Plane Crash

A jury has awarded $48 million to relatives of five people killed when a skydiving plane crashed shortly after takeoff from a rural ...

Mayor Orders Flood-Threatened Illinois City Evacuated

Authorities in a southern Illinois city menaced by two dangerously swollen rivers said on May 1 that most of the city's remaining ...

Nearly 7,000 Insurance Claims Filed After St. Louis Tornado

Missouri insurance regulators say major homeowners and auto insurance companies in the state have received nearly 7,000 claims from St. ...

Rate of Workplace Deaths in North Dakota Remains High

North Dakota's per-capita rate of on-the-job deaths remains among the highest in the country, a new report shows. Officials cite the ...

United Fire Sees Hike in New Business but Drop Revenues in Q1 2011

United Fire & Casualty Co., headquartered in Cedar Rapids, Iowa, has reported a slight drop in net premiums earned and total revenues ...

Ohio Governor Wants Lower Workers’ Comp Rates

Ohio's governor wants the state to lower the premiums employers pay for workers' compensation by 4 percent for a total cut of about $65 ...
Southeast

Florida Man Gets Death Penalty for Insurance Office Murder

A Florida man has been sentenced to death for the murders of two women he doused with gasoline and set on fire during the robbery of a ...

17 Alabama Counties Now Qualify for Federal Storm Aid

The federal Emergency Management Agency says 17 Alabama counties now qualify for disaster assistance to homes and businesses damaged by ...

Obama, Cabinet Vow Urgent Aid for Storm-Battered Southern States

Federal officials vowed urgent support Sunday for a region devastated by the deadliest U.S. natural disaster since Hurricane Katrina, even ...
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South Central

Federal Fire Crews Bring Expertise to Huge West Texas Fire

In firefighting circles, they are considered the best of the best. Hotshots, they're called a specially trained assortment of federal ...

Frost Insurance Acquires Clark Benefit Group in San Antonio

Frost Insurance Agency Inc., the insurance subsidiary of Frost, has acquired Clark Benefit Group, an independent San Antonio-based ...

Gov. Fallin Requests Storm Assistance for Oklahoma; Uninsured Losses at $10M

Gov. Mary Fallin is requesting federal assistance for storm-battered Atoka County in southeast Oklahoma where initial damage estimates show ...
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West

Oregon Lawmakers Consider Governance in Disaster

Oregon's Constitution requires that the state Legislature meet in Salem. So what would happen if disaster struck Oregon and lawmakers ...

Califonia Legislators Consider Underinsured Motorist Bill

A California Assembly committee is considering a bill that would eliminate the authority of the insurer to deduct the amount paid to the ...

Turner Joins California Women’s Insurance Association

J.D. Turner, a partner at the law firm of Lorber, Greenfield & Polito LLP, in Poway, Calif., has joined the Insurance Women of North ...

CMR Risk, Fireman’s Fund Donate $8,000 to Burn Institute

CMR Risk & Insurance Services and Fireman's Fund Insurance Co. have partnered to donate $8,000 to the Burn Institute in San Diego, to ...

Mercury General Reports Modest Increase in Net Premiums

Los Angeles-based Mercury General Corp. has reported net income in the first quarter 2011 was $58.2 million, compared with net income of ...
International

World on Alert after U.S. Kills bin Laden

Osama bin Laden was killed in a U.S. assault on his Pakistani compound Monday. He was then quickly buried at sea, in a dramatic end to the ...

Top 10 Risks Facing Business Leaders

Economic risk is the greatest threat today's business leaders face, followed by legislative and regulatory changes and increased ...

Somali Pirates Seize Singapore Tanker off Kenya Coast

Somali pirates hijacked a Singapore-owned product tanker about 180 miles [290 kms] off the coast of Kenya, said port officials and the EU's ...

Deep Sea Search Locates, Recovers Air France Flight Data Recorder

Deep sea search parties have found one of two flight data recorders from an Air France plane that crashed off the coast of Brazil in 2009, ...

First Quarter Earnings Reports: AXIS Capital, Aspen Re

Axis Capital experienced the same catastrophic losses that affected almost every re/insurer in the first quarter. CEO and President ...

Japan’s Edano: No limit on Tepco Nuclear Compensation Claims

Japan's government will not put a cap on the liabilities faced by Tokyo Electric Power Co (Tepco) for damages stemming from its crippled ...

S&P: No. Am, Bermuda Insurers Enhancing Enterprise Risk Management Efforts

In an article published on its web site Standard & Poor's Ratings Services said it has outlined its "updated enterprise risk management ...

Ratings Roundup: Elwood, Taiping (Singapore), Topiary Capital (Cat Bonds)

A.M. Best Co. has upgraded the issuer credit rating (ICR) to "bbb+" from "bbb" and affirmed the financial strength rating (FSR) of' ...
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New Discussions in the Forums

Hurricane coverage in florida
Posted: Sat Apr 30 -- I am located in South Florida, and I am finding that carriers, even thru E &S markets are not interested in providing wind for buildings... saabins
13,000 properties needing property insurance
Posted: Fri Apr 29 -- Thank you all for your suggestions! This is a bizarre request and you all have been extremely helpful in understanding the possible routes... hannah.cca
Risk Purchasing Groups
Posted: Fri Apr 29 -- So based on the number of views vs. responses, I'm going to guess that there are some unknowns about RPGs. I read this particular policy and... Rob
Live Music venue in CA with open A&B claim
Posted: Fri Apr 29 -- I have been the broker for several years on this account. It is a bar and live music venue that is ALL ages. It has one assault and battery... Rob
Need comp in Ca for structural steel contractor
Posted: Thu Apr 28 -- I believe Companion and/or Castlepoint might entertain this risk with a lapse. If not, it'll more than likely need to get SCIF'd. EricCBIAIns

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