May 17, 2011

Daily Headlines: Tuesday, May 17, 2011

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Insurance Journal Daily Headlines
May 17, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Toyota Can Be Sued for Reduced Value of Cars, U.S. Judge Rules

Owners of Toyota Motor Corp. vehicles that were recalled over unintended acceleration may pursue claims against the automaker that the ...

Verisk Catastrophe Index Now Covers U.S. Earthquake Risk

The Verisk Catastrophe Index has been expanded beyond the hurricane peril to also cover U.S. earthquake risk, including fire following ...

Submit Today: Top 100 Independent Insurance Agencies

Once again, Insurance Journal is on the search for leading privately-held property casualty independent agencies and brokerages for its ...

Travelers Enhances Coverage for Educational Institutions

Travelers has launched its Excess Educators Legal Liability (ELL) through its IndustryEdge product for educational institutions. Travelers ...

Mississippi River Closed to Traffic at Natchez

The key waterway for U.S. grain exports was cut off Monday when the U.S. Coast Guard closed the Mississippi River near Natchez, ...

Supreme Court Hands Corporate Whistleblowers a Setback

The U.S. Supreme Court has handed corporate whistleblowers a setback with a 5-3 ruling that they cannot bring lawsuits on the basis of ...

Bank Holding Company Insurance Revenue Drops 5.7%

The nation's bank holding companies (BHCs) experienced a decrease of 5.7 percent in their total insurance revenue from a record $15.08 ...

From MyNewMarkets.com The Perils of "Named Perils"

It is standard practice for agents and brokers to default to the open perils causes of loss when proposing property insurance. As...
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East

Three Convicted in Massachusetts Auto Fraud Ring Case

A Massachusetts jury has returned guilty verdicts against three men including a lawyer and a chiropractor accused of staging ...

ProMutual Group Holds Rates Steady

Boston-based medical malpractice insurer ProMutual Group said it will not increase rates this year for Massachusetts doctors and will pay a ...

Starr Adds Scully as Biz Dev Exec

New York-based Starr Indemnity & Liability Co. has named John Scully business development manager for Starr Accident & Health, ...
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Midwest

State Auto Estimates April Storm Losses of $75M to $85M

State Auto Financial Corp., based in Columbus, Ohio, has estimated its second quarter 2011 earnings will include between $75 million and ...

North Dakota’s Hamm Elected Secretary-Treasurer of Commissioner Assoc.

The National Association of Insurance Commissioners (NAIC) has elected North Dakota Insurance Commissioner Adam Hamm as its new ...

Mesirow Financial Formalizes Management of Insurance Services Division

Chicago-based Mesirow Financial announced that its Insurance Services Division will be led by a newly formed Insurance Management Committee ...

Illinois Workers' Comp Commission Adds Rascia, Kimmet

The Illinois Workers' Compensation Commission announced that Ron Rascia has joined the organization as legal counsel and Mark Kimmet has ...

A.M. Best: Outlook Negative for Badger Mutual, A-Rating Affirmed

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A (Excellent) and issuer credit ...
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Southeast

Florida Court Knocks Out Hulk Hogan Claim Against Agency

A Pinellas County, Florida judge dismissed a lawsuit filed by Terry Bollea, better known as celebrity wrestler Hulk Hogan, in a matter ...

Tennessee Bill to Limit Lawsuit Damages Moves Ahead

Gov. Bill Haslam's proposal to limit lawsuit damages in Tennessee has passed the Senate last week despite passionate arguments from ...

West Virginia Firefighters Battle Fiscal Crisis

West Virginia's volunteer fire departments are in financial trouble, forcing some to close, because annual fees aren't keeping pace with ...
South Central

Oklahoma Returning Federal Funds for Health Insurance Overhaul

The Oklahoma Insurance Department has formally notified federal officials that it is returning nearly $1 million in federal funds targeted ...

A.M. Best Upgrades Ratings of Amerisafe and Subsidiaries

A.M. Best Co. has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and issuer credit ratings (ICR) to "a" ...

Louisiana Floodwaters Creep Toward Bayou Towns

Waters unleashed by the opening of a key Mississippi River floodway crept through the Louisiana bayou Monday in a surge that could leave ...
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West

Gov. Jerry Brown Proposes Eliminating Standards Board, Insurance Advisor

In an effort to save the state about $500,000,California Gov. Jerry Brown has proposed eliminating the Office of the Insurance Advisor ...

Calif. Surplus Line Premiums Down 4.34%

The Surplus Line Association of California Stamping Office announced premiums processed for the first quarter of 2011 of $953.7 million, a ...

Feliciano Named VP of California Insurer Association

The Association of California Insurance Companies (ACIC) has named Armand Feliciano vice president. He has 17 years of legal, regulatory ...

SCF Arizona’s DeGraw Receives Stellar Volunteer Award

Genesis City, a community-based organizationthat provides educational services to high-risk youth and their families in Arizona, ...
International

Best Sees ‘Growing Pressure’ for Higher P/C Insurance Rates

There is "growing pressure" to support increased rates in property/casualty insurance and reinsurance markets, rating agency A.M. Best has ...

French Crash Probe Raises No Urgent A330 Safety Concerns

Preliminary readings of black box data recovered from a French Airbus plane that crashed in the Atlantic have eased any immediate concerns ...

Australia Flood, Cyclone Claims Assessments near Completion Says ICA

According to a bulletin on its web site, the Insurance Council of Australia has released updated figures on "how the general industry has ...

Willis Names Rider to Boost Global Captive Practice

Willis Group Holdings has announced the appointment of Sean B. Rider to the newly created post of Managing Director, Sales and Consulting, ...

BMS Group’s Pioneer Underwriting Adds Personnel

The UK's BMS Group announced that its Lloyd's Managing General Agent subsidiary, Pioneer Underwriting and JH Intermediaries have added two ...
Sponsored Content

Arrowhead Announces Acquisition of Specialty Agency Trafalgar Marine Insurance Services

San Diego, CA, 05/17/11 - ARROWHEAD General Insurance Agency, Inc., one of the nation's largest property and casualty insurance ...
Insurance Journal Blogs

The Power of the Pen: Tips for an Effective Press Release

Over the last several years, it seems marketing departments are taking on added responsibilities - in many cases, this includes a ...

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Interstate Compacts? Forget About Them

In preparation for new surplus lines regulations, states are considering whether to join a...
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Producer Compensation: The Good and the Great

Creating a compensation plan that is both fair to producers and the agency is critical in...

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New Discussions in the Forums

Philadelphia Insurance Company
Posted: Tue May 17 -- I have started a small business and now I am in search of better insurance company to get a comprehensive insurance plan. I have heard a lot... Anthoney
CPCU classes vs. CLU classes
Posted: Mon May 16 -- Thanks mhw, but I was actually inquiring about the CLU conferment, not the CPCU conferment. PatsFan2001
Business Networking
Posted: Mon May 16 -- Hi, I agree with Business networking tool to enhance your sales,improvement,discussion, about the issues.So business meetings have great... Esmond
National Agents Alliance? Legit or Keep Away?
Posted: Thu May 12 -- hey "dontdoit"... who was your manager? also, if it is such a bad business, why were you involved for 2.5 years? also, if the expenses are... pontiac
Renewal call scripts
Posted: Wed May 11 -- Of course, complete as much as possible with what you know, before you phone. We would like to be sure our records are current and to check... jtownagent

Reader Comments

Most Without Insurance Do Not Pay Hospital Bills: Federal Report
Posted: Tue May 10 -- Yes Nancy, I am quite sure that a lot of them do. Speak to someone that doesn't have health insurance - even though they work - but who has... mtt

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