May 24, 2011

Daily Headlines: Tuesday, May 24, 2011

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Insurance Journal Daily Headlines
May 24, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

P/C Insurers Facing Record Losses from Weather

Devastating tornadoes, floods, earthquakes overseas and a busier-than-usual hurricane season have U.S. insurance companies bracing for ...

Violent, Property Crimes Dropped in 2010: FBI

Violent crime is down 6.2 percent and property crimes have decreased 2.8 percent in the U.S., according to the latest government ...

Wells Publishing’s Tinney to Speak on Media Transformation

Julie Tinney, vice president of sales and marketing, Wells Publishing Inc., and self-proclaimed "gadget geek," will be speaking on the ...

From MyNewMarkets.com Report: Workers' Comp Line Deteriorates Further in 2010

Workers' compensation continued to worsen in 2010 as the combined ratio jumped five points to 115 in 2010 from 2009. In its State of the...
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East

Massachusetts AG Urges Rate Reduction for Commercial Auto

Massachusetts Attorney General Martha Coakley claims insurers have overcharged commercial auto customers by $1 billion over the last seven ...

Pennsylvania Malpractice Suits Drop for 6th Straight Year

The number of medical malpractice lawsuits filed against doctors and hospitals in Pennsylvania dropped last year for the sixth year in a ...

New Jersey Police Rule Out Arson in School Bus Yard Fire

Investigators say they've ruled out arson as the possible cause of a fire that damaged 11 vehicles parked in a southern New Jersey school ...

Massachusetts Court Allows Workers’ Suit Against Contractor

A worker who was injured and the estate of another who died at a Massachusetts construction site can sue the contractor who oversaw the job ...
Midwest

Missouri Tornado: 116 Dead; Thousands of Homes, Businesses Destroyed

A monster tornado killed at least 116 people in Joplin, Missouri, when it tore through the heart of the small Midwestern city, ripping the ...

Joplin, Missouri Tornado Insured Loss Estimate: $3 Billion

The tornado that devastated Joplin, Missouri could cost the insurance industry between  $1 billion and $3 billion, according to ...

Insurers Moving Quickly in Response to Violent Midwest Weather

Auto, home and business insurers have launched a broad response to the recent tornadoes that caused severe loss of life and extensive ...

Marsh Appoints Judge to Lead St. Louis Office

Insurance broker Marsh has appointed Marleen Judge to lead its St. Louis office. Judge brings more than 20 years of corporate risk ...
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Southeast

Florida’s Acentria Acquires Jim Harris Agency

Destin, Florida-based insurance agency Acentria has acquired  Jim Harris & Associates, Inc., with offices in Mary Esther and ...

Keystone Insurers Adds 22nd Kentucky Agency

Linville Insurance Agency Inc. of Berea has become Keystone Insurers Group's newest franchise partner in Kentucky. This brings the total ...
South Central

Avizent Acquires Lousiana-based F.A. Richard and Associates

Avizent, a national claims and risk management service provider based in Columbus, Ohio, announced it has acquired F.A. Richard and ...

Third Coast Underwriters Expands in Gulf Region

Third Coast Underwriters, which provides workers' compensation insurance for underserved markets that have complex risks, is expanding ...
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West

Tornado Touched Down in Montana

The National Weather Service says a tornado touched down south of Terry, Montana snapping a tree and damaging two small barns. No one was ...

The Partners Group, Baldwin Resource Group Mer

Portland, Ore.-based financial services and employee benefit consulting firm The Partners Group has merged with Seattle-based Baldwin ...

Oregon Underwriters Association Names New Officers

The Chartered Property Casualty Underwriters Society Oregon Chapter has named its 2011 officers. They are: President Chuck Nagan, ...
International

Toyota Still Has Internal Problems to Fix, Says Commission

Toyota Motor Corp. has a way to go to fix crisis decision-making and other shortcomings in its corporate culture that played a key role in ...

Icelandic Ash Cloud Shuts UK Flights; Britain Says Airspace Open

About 250 flights to northern Britain were cancelled on Tuesday over concerns about the ash cloud spewing from an Icelandic volcano, but ...

Arthur J. Gallagher Buys Singapore Broker

Arthur J. Gallagher & Co. has acquired specialty insurance broker ITI Solutions Pte Ltd, located in Singapore.  ITI's speclaties ...

Opinion: Financial Regulation Reform Risks Overkill in Emerging Markets

There is no doubt that some of the busiest people since the financial crisis are at the Financial Stability Board. The G20 recommendations ...

Zurch Names Serna as Global Head of Communications

Zurich Financial Services Group has appointed Angel Serna as global head of Corporate Communications, with effect July 1, 2011. In his new ...

Davis Joins Endurance Worldwide Reinsurance in U.S. Unit

John A. Davis has joined Endurance Worldwide Reinsurance as senior vice president and manager of the U.S. Treaty Casualty and Workers' ...
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Interstate Compacts? Forget About Them

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Producer Compensation: The Good and the Great

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New Discussions in the Forums

Continuing Education ... Masters Degree in Insurance?
Posted: Tue May 24 -- An add-on question to what Farhan has just mentioned - I am an Engineer in IT with an MBA in Finance (Not Insurance).... For the past 4-5... Arjun
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
CARE - Car Accident Resolution Experts - New Product
Posted: Sat May 21 -- So this new company out now.. called CARE.. short for Car Accident Resolution Experts.. they basically help your client out in the claims... meytai
Purchasing X-Date Data
Posted: Fri May 20 -- "On the logic of insurance being from the date of house purchase, wouldn't this also seem to hold for the date of... FFA
Watercraft (jetski )rental
Posted: Fri May 20 -- First Flight Insurance Group offers that coverage through a Lloyd's syndicate, subject to a $5,000 minimum premium. . You can access them... earlybird
How should I compensate my producers?
Posted: Fri May 20 -- "This discussion brings up a lot of interesting points. Having worked on both sides of this... RKunz2
"Pay As You Go" Work Comp
Posted: Thu May 19 -- My E & O Alarm is ringing. If I am understanding this correctly, and Agents and Brokers can be in the payroll business as private label you... PLCinsurancetraining

Reader Comments

Starbucks Sued for Firing Dwarf from Barista Job
Posted: Wed May 18 -- I think the fact that Starbucks offered the job in the first place validates that they were practicing equal opportunity employment - if... Bob
Allstate Targets Online Insurance Sales; Buys Esurance, Answer Financial
Posted: Wed May 18 -- Hmmmmmm.... I wonder how the Allstate agents feel right now. Who is next? State Farm? Lets see, Nationwide, Liberty Mutual went to the... Sarah

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