May 26, 2011

Daily Headlines: Thursday, May 26, 2011

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

Today's Headlines

National

Repeat Tornadoes Unusual But Not Unknown; Threat Continues

Weather experts said it's unusual for deadly tornadoes to develop a few weeks apart in the U.S. But what made the two storm systems that ...

Feds Demand Workplace Injury Records from Mining Firms

An administrative law judge has ordered two major coal producers, Massey Energy Co. and Peabody Energy Corp., to turn over information ...

SEC Approves Whistleblower Rule

Corporate whistleblowers could score multi-million-dollar payouts for reporting financial wrongdoing under a new program approved by U.S. ...

U.S. Bias Suit Against Bayer Widens

Bayer AG has been hit with a wider U.S. lawsuit, accusing Germany's largest drugmaker of discriminating against women in pay, promotions ...

Website Helps Homeowners Manage Property, Connect to Insurers, Contractors

YourHomeStuff, a community connecting website designed specifically for homeowners has launched at www.yourhomestuff.com. YourHomeStuff ...

From MyNewMarkets.com Markets in Motion: Medi-Spa

The anti-aging market has become more sophisticated, more profitable and more risky. From botox injections to laser treatments, the...
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East

Virginians Getting Hurricane-Prep Tax Break starts May 25

Virginians who want to stock up on batteries, bottled water and other supplies for the hurricane season get a tax break this week. The ...

Clements Rebrands

Washington, D.C. based Clements International has changed its name to Clements Worldwide. The broker, which specializes in insurance for ...

Shields Named Construction Leader at William Palumbo

Central Massachusetts-based William Palumbo Insurance Agency has named William "Bill" S. Shields leader of its construction risk ...
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Midwest

A Focus on Providing Value Serves Minnesota Agency Well

Learn the business. Put your customers' interests first. Take care yourself. Those are three messages Mark Z. Moores thinks young people ...

Kansas City Chiefs Gathering Aid for Missouri Tornado Victims

Hundreds of cars lined up all day on May 24 in the Arrowhead Stadium parking lot as the Kansas City Chiefs filled two semitrailer trucks ...

Gateway Insurance Ratings Affirmed; Outlook Revised to Negative

A.M. Best Co. has revised the outlook to negative from positive and affirmed the financial strength rating of B+ (Good) and issuer credit ...
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Southeast

Tennessee Updates Its Captive Insurance Law

Tennessee Gov. Bill Haslam is expected to sign a bill allowing the formation of new types of captive insurance companies in the state and ...

West Virginia Reports Rise in Claims Awarded Against State

Monetary claims awarded against the state of West Virginia more than doubled in the past year. The state Court of Claims says in its 2011 ...

Georgia’s PointeNorth and Love, Douglas & Pope Agencies Merge

Georgia's PointeNorth Insurance Group and Love, Douglas & Pope Inc. have merged. Effective June 1, the company will operate as ...

Georgia Insurance Agent Sentenced for Insurance Fraud

A Georgia insurance agent who took premiums from a nonprofit pleaded guilty in Bibb County Superior Court to one count of insurance fraud. ...
South Central

MHBT Appoints Raetzman New Employee Benefits Producer

Privately owned insurance and risk management firm, MHBT, announced that Drew Raetzman has joined the Dallas office as an employee benefits ...

Multiple Storms Pound North Texas with Large Hail

The Dallas Fort Worth area was once again ground zero for a series of severe thunderstorms that pounded the area with baseball size hail on ...

Oklahoma Insurance Commissioner Declares Emergency Following Tornado Outbreak

Oklahoma Insurance Commissioner John Doak has issued an emergency order that will enable licensed out-of-state claims adjustors to ...
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West

California Unveils Map Outlining Landslide Risks

California officials have released a color-coded statewide map depicting regions most at risk for landslides. The landslide risk map made ...

Calif. Tops Nation in Cargo Thefts

California tops the nation as the state with the most cargo thefts, according to the National Insurance Crime Bureau, which recently issued ...

Suit Filed in Boy’s Fatal Fall After Lakers Game

A lawsuit has been filed on behalf of the family of a 2-year-old boy who plunged to his death from a skybox after a Los Angeles Lakers game ...

Progressive Seeks to Add 95 Employees in Colorado

Ohio-based The Progressive Group of Insurance Companies announced it is seeking to fill fill 95 sales and customer service positions in ...

IMA Foundation Names Rohs VP of Corp. Communications

Denver-based The IMA Financial Group Inc., a diversified financial services company, announced that Ruth Rohs joined the company as vice ...
International

Insurers Eye Rate Increases as Hurricane Season Approaches

Property and casualty insurers craving respite from a long-running drop in prices are eyeing the start of the U.S. hurricane season next ...

Spain’s MAPFRE, Japan’s Mitsui Sumitomo Reinforce Collaboration Pact

MAPFRE, a major non-life insurance group in Spain and Latin America, and MITSUI SUMITOMO INSURANCE (MSI), Japan's principal non-Life ...

S&P Sees High Growth Potential for India’s P&C Market

Standard & Poor's Ratings Services has published a report, which concludes that the Indian non-life insurance sector has "substantial ...

ACORD Launches Standards Development Pilot in So. Africa

Insurers and brokers are beginning a pilot of ACORD Standards in South Africa. "Piloting is the stage after development efforts where ...

Clements International Officially Becomes Clements Worldwide

Clements International has completed a six month rebranding effort to become Clements Worldwide. This change "unifies the company's ...

Xchanging Reorganizes UK Insurance Business

Xchanging, the business process outsourcing company, which works extensively with Lloyd's, has announced the reorganization of its UK ...

Purm Jr. to Lead Argo’s New Brazil Insurance Operations

The Bermuda-based Argo Group International Holdings announced that Pedro Purm Jr. has been selected to serve as CEO of its commercial ...

UK's Willis Limited Appoints New Chairman and CEO

Willis Limited, the principal UK brokerage company of the Willis Group, has announced that Rodney Baker-Bates will join its Board as an ...

Zurich Appoints Serna Global Head of Corporate Communications

Zurich Financial Services Group announced the appointment of Angel Serna (45, Spanish and Swiss citizen) as Global Head of Corporate ...

Best Affirms Top Layer Re’s ‘A+’ Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit rating (ICR) of "aa-" of ...

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New Discussions in the Forums

Watercraft (jetski )rental
Posted: Thu May 26 -- Our office has access to two markets for jet ski rental operations in California. Please feel free to contact me at 209-946-6543 or by... Lelorakp
Condo Associations
Posted: Thu May 26 -- Im working on a HOA policy that is currently with State farm. Need to know what standard markets are competitive in this segment. I have... JAM
Which is better "PIA" or "PIIB"?
Posted: Wed May 25 -- Does anyone have any recommendations between PIA (Professional Insurance Agency) based out of China, or PIIB (Pacific Interstate Insurance... Nikita137
Build agency value with a quality book of business
Posted: Wed May 25 -- What is your insurance background? Do you intend to start an independent agency? Non-standard auto.. some home.. some... meytai
Continuing Education ... Masters Degree in Insurance?
Posted: Tue May 24 -- A CPCU desigination is best. However, I would request an informational interview with a couple of Fortune 500 company's risk managers and... mccluney
Agency Management System
Posted: Mon May 23 -- Scott, You seem to be heading down the right track. I would agree with the other poster that your two main options are Applied and... mjcoop

Reader Comments

U.S. Refuses to Pay Michigan Insurer for Ferrari Wrecked by FBI Agent
Posted: Mon May 23 -- It really just bugs me that this FBI agent can hop in a car for a joy ride, total it and then the insurer is just out $750,000 due to his... Wayne 2
Son's Suicide Prompts Connecticut Father to Sue Town
Posted: Thu May 19 -- @ Jester .. Before we make those comments, do we know that he didn't try to intervene and make complaints to the school ? I know parents who... dj
German Insurer Organized Orgy for Best Salesmen
Posted: Mon May 23 -- All I got was a fruit basket... Say What?

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