May 10, 2011

Daily Headlines: Tuesday, May 10, 2011

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Insurance Journal Daily Headlines
May 10, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

P/C Insurers Cautious About Adopting New RMS Hurricane Model

Property/casualty insurers appear to be in no rush to adopt a controversial revised catastrophe model that dramatically raises certain ...

U.S. Appeals Court Hears Arguments Over Healthcare Mandate Today

Lawyers for President Barack Obama go to court Tuesday to try to save the cornerstone of his healthcare overhaul, arguing that the ...

P/C Insurer Failures in 2010 Unrelated to Catastrophes: A.M Best

The majority of the 11 financially impaired property/casualty companies in 2010 got into trouble primarily due to deficient loss reserves ...

Most Without Insurance Do Not Pay Hospital Bills: Federal Report

Few families without health insurance have the financial assets to pay potential hospital bills. On average, uninsured families can only ...

Best Affirms No. Am. Casualty Financial Ratings; Upgrades Debt

A.M. Best Co. has upgraded the issuer credit ratings (ICR) to "a+" from "a" of North American Casualty Group (NAC) and its members, ...

Brown Named Chief Marketing Officer for Starr Companies

Leilani Brown has joined Starr Companies as vice president and chief marketing officer. In this role, she will oversee the company's ...

Treasury to Name Federal Insurance Advisory Committee

The Treasury Department has announced it will create a Federal Advisory Committee on Insurance. The committee will provide advice to the ...

Insurmark, Bankers Insurance Launch Mortgage Lenders Product

Insurmark/Floodwatch and Bankers Insurance Service, two divisions of Aon Underwriting Managers, have partnered to introduce a product for ...

Brit Insurance Launches Package Policy for U.S. Higher Education Sector

Brit Insurance, the international general insurance and reinsurance group, has launched a new package policy designed specifically for the ...

From MyNewMarkets.com Reality TV Gets a New Name, Creates New Opportunities for Agents

American's thirst for reality television has led to all kinds of different "reality" programming. From housewives, to crab fishing to dirty...
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East

Pennsylvania House OKs Workers' Comp Changes

Pennsylvania House lawmakers have approved new legislation that would allow insurers to write workers' comp coverage to owners and ...

Court: Navy Not Liable for New Jersey Sailor Killed in ’07

A federal appeals court has ruled that the government doesn't have to pay the family of a New Jersey sailor killed in a training exercise, ...

Pennsylvania Diner Co-Owners Charged with Torching Building

Two central Pennsylvania diner owners allegedly set fire to the business to collect insurance money because of financial problems. East ...
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Midwest

Moores Named President of Minnesota Agents & Brokers Group

Mark Z. Moores, president of St. Paul-based Moores Insurance Management Inc., and has been named president of the Minnesota Independent ...

A.M. Best Affirms Ratings of Central States Indemnity Co. of Omaha

A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and issuer credit rating of "aa-" of Central States Indemnity ...

Projection Shows Omaha Flood Could Displace 7,000

More than 7,100 people would be displaced and damage could run close to $700 million if the Omaha, Neb., area were to experience a flood of ...
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Southeast

Memphis Battles Rising Mississippi River

The Mississippi rose toward the highest level ever in the river city of Memphis, flooding pockets of low-lying neighborhoods and forcing ...

Mississippi Jury Awards $322 Million in Asbestos Suit

A jury has awarded $322 million to a Mississippi man who claimed he inhaled asbestos dust while mixing drilling mud sold and manufactured ...

Florida’s Acentria Acquires Stant Agency

Destin, Fla.-based Acentria reported it has acquired The Stant Agency. The office will remain in Crestview, Fla. Wes Stant, commercial ...

United Insurance, GreatFlorida Insurance to Provide P/C Coverage in Florida

United Insurance Holdings Corp's., a property and casualty insurance holding company, homeowners, dwelling fire, and flood products will ...
South Central

Arthur J. Gallagher Acquires Oklahoma's Meyers-Reynolds & Associates

Arthur J. Gallagher & Co. announced it has acquired Meyers-Reynolds & Associates Inc., a retail insurance broker headquartered in ...

Tebrugge, Taylor and Morales Join Dallas-based MarketScout

MarketScout, an electronic insurance exchange with supporting wholesale and managing general agent (MGA) operations, has expanded its staff ...

Audit: Louisiana Horsemen Used Benefits Dollars for Trips, Lobbying

A new report says an organization representing Louisiana racing horse owners and trainers used money earmarked for medical, pension and ...
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West

Risky Business: Insurance Industry Entering ‘New Era’ of Catastrophes

Given the recent flooding, hurricanes and earthquakes, it appears the number of catastrophic events that inflict mass casualties and severe ...

Carnival Workers Hurt When Coaster Hits Power Line

Two carnival workers have been hurt, one seriously, when a roller coaster being erected for a Southern California festival touched a power ...
International

Arctic Nations Meet to Chart Future of World’s Final Frontier

Leaders of Arctic nations will gather in Greenland this week to chart future cooperation as global warming sets off a race for oil, ...

Tokyo Electric Pleads for Government Help on Compensation

The head of Tokyo Electric Power on Tuesday asked Japan's government to help shoulder the burden of compensating those displaced by the ...

EQECAT Raises Japan Quake/Tsunami Loss Estimates to $22-$39 Billion

Catastrophe modeling firm EQECAT has updated its market loss estimate of $12-$25 billion, issued on March 16, for the March 11 M9 Tohoku ...

Towers Watson: Weak Risk Culture Equals Weak Organization

A new poll, conducted at a recent Towers Watson Solvency II seminar, concludes that "almost half of insurers do not have an effective way ...

Hiscox Issues Interim Management Statement; Sees Future Rate Hikes

Hiscox Ltd., which operates in the U.S., Bermuda and Europe, as well as the Lloyd's and UK market, has issued its Interim Management ...

Best Withdraws Syria’s Arab Union Ratings Due to Libya Sanctions

A.M. Best Europe Rating Services Limited has withdrawn the financial strength rating of 'B' (Fair) and the issuer credit rating of ...

MMA UK Names Bradshaw as Commercial Development Manager

MMA Insurance, the wholly owned UK subsidiary of French multi-national insurer, MMA IARD Assurances Mutuelles, has appointed Derek Bradshaw ...

Fu Joins Pioneer Underwriting at BMS Group as Marine Underwriter

Pioneer Underwriting, BMS Group's recently launched Lloyd's MGA, announced that Amy Fu joins the team as a Marine Underwriter. BMS ...

Best Revises Outlook on BP’s Jupiter to Stable; Affirms Ratings

A.M. Best Europe Rating Services Limited has revised the outlook to stable from negative and affirmed the financial strength rating of ...

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Interstate Compacts? Forget About Them

In preparation for new surplus lines regulations, states are considering whether to join...
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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 signaled that...

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New Discussions in the Forums

Business Income - Rental Income
Posted: Tue May 10 -- A client of mine raised an interesting question, and I'm still unsure after reading the ISO BI form again. He has a commercial bldg that... wariline
Purchasing X-Date Data
Posted: Mon May 9 -- Are you talking about commercial lines or personal lines? charlie
Cole x dates
Posted: Mon May 9 -- Is this for commercial lines? All of our leads(X-dates) / Appointments are exclussive to your agency also based on criteria that you provide... charlie
Need Stop Gap Employers Liability for ND & WY
Posted: Fri May 6 -- I have a Michigan contractor working in ND and WY. He purchased WC from each monopolistic state which does not include employers liability.... lauren

Reader Comments

Brooke Insurance Franchise Executives Settle SEC Fraud Charges
Posted: Thu May 5 -- Massive fraud, ruined hundreds of franchisees, caused banks to fail,and they are just going to get a fine and be banned from holding certain... TxLady
Florida Judge Says Insurance Should Cover Chinese Drywall Case
Posted: Mon May 9 -- His reasoning must be based on the expressions he's heard "blowing smoke" and "passing gas" - this won't stand up to an appeal. The next... Bob
Republicans Push to Repeal Healthcare Reform Funds
Posted: Wed May 4 -- Barrack, thanks for getting Osama, now back to business... get out of my healthcare. UW

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