May 31, 2011

Daily Headlines: Tuesday, May 31, 2011

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Insurance Journal Daily Headlines
May 31, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Storm Scientists Assess Year’s Series of Deadly Tornadoes

Storm science has greatly improved tornado warnings in recent years. But if that's led anyone into a sense of security, that feeling has ...

Senate Bill Would Set Wind-Vs.-Water Insurance Claim Formula

A U.S. senator from Mississippi is introducing a bill that tries to resolve wind-versus-water insurance disputes for structures wiped out ...

Senator Looks to Halt Rentals of Recalled Vehicles Over Safety

U.S. Sen. Charles Schumer of New York said he will introduce a bill to stop car rental agencies from renting automobiles that are under ...

Best Affirms All of GEICO’s ‘A++’ Ratings

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

Ratings: Benchmark, Repwest, Sooner, Park Assurance, Mariah Re, ACMAT, Kingsway Amigo

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

Forde Joins RLA Insurance as Underwriting Officer

Frank Forde has joined RLA Insurance Intermediaries as underwriting officer heading the firm's U.S. and International Financial Services ...

Medicus Insurance Expands Coverage to Calif., Ky., Ore.

Medicus Insurance Co. is now selling medical professional liability insurance in California, Kentucky and Oregon. Medicus now sells ...

From MyNewMarkets.com Group Study: Largest Hedge Funds Buy More, Pay Less for Lawsuit Protection

Large hedge funds with over $10 billion in assets under management (AUM) typically purchase $40 million or more in professional liability...
TOMORROW: Going on vacation increases your clients insurance risk. Make sure you - the agent - take the proper steps to protect your clients this summer. New training from Academy of Insurance - Learn more and register today
East

Goldsmith Named Maryland Insurance Commissioner

Therese Goldsmith has been appointed as Maryland's insurance commissioner. She most recently served as commissioner of the Public Service ...

New York City Settles Inmate Death Lawsuit

New York City has agreed to pay $2 million to settle a lawsuit that claimed a man died in jail when his alcohol withdrawal went untreated. ...

$10M Awarded to Girl in Philly Drug Lawsuit

A Philadelphia jury has awarded $10 million to a 13-year-old girl after deciding that she suffered a life-threatening drug reaction a ...
Business Income Insurance Training Series: 5-Part training series from Academy of Insurance starts next week - Learn more and register today
Midwest

President Obama Consoles Tornado-Ravaged Missouri City

Exactly a week after the Missouri city of Joplin was nearly leveled by the deadliest tornado to strike the U.S in decades, President Barack ...

Senate-Approved Workers’ Comp Overhaul Rejected by Illinois House

A major overhaul of the state's costly workers compensation system failed in the Illinois House on May 29, raising the possibility that ...

Workers’ Comp Reform Approved in Illinois Senate

A plan to overhaul workers' compensation to cut business costs and curb corruption emerged May 28 and was approved by the Illinois Senate. ...

Arthur J. Gallagher & Co. Acquires Fish & Schulkamp

Arthur J. Gallagher & Co. has acquired Fish & Schulkamp Inc. of Madison, Wis. Terms of the transaction were not disclosed. Founded ...

State Farm Storm Claims in Hundreds of Thousands

State Farm says it has paid almost $1 billion on about 300,000 catastrophe claims from devastating storms across the central and ...
Southeast

Alabama Lawmakers Advance Bills Curbing Lawsuits

The Alabama Legislature has taken another step toward erasing the state's one-time reputation for juries returning big cash lawsuit ...

Insurance Company Says Tennessee Gay Couple Burned Own Home

The company that insured a lesbian couple's home claims the women set a fire that destroyed it. Carole Ann Stutte and Jean Stutte of Vonore ...
South Central

Demise of Windstorm Agency Overhaul Prompts Special Session in Texas

Texas lawmakers were unable to come to terms on an overhaul of the state-backed insurer of last resort for wind and hail along the Texas ...

Certificates of Insurance Bill Heads to Texas Governor

The Texas Legislature has passed a measure that requires regulatory approval of property and casualty certificate of insurance forms ...
West

Flood Warnings Issued for 7 Utah Counties

Flood warnings are in effect for seven Utah counties as three rivers flow over their banks. The National Weather Service says the Weber ...

Northern Calif. Tornadoes Destroy Almond Crops

Officials say tornadoes that touched down in a rural area of Northern California destroyed hundreds of acres of almond orchards. The ...

San Gabriel Valley Underwriters Society Names Officers

The San Gabriel Valley CPCU Chapter has named its 2011-2012 officers and directors. They are: President Tracy Stevenson, Vice ...
International

Will the Next Big Nat Cat Turn the Cycle? ‘Maybe’ Say Reinsurance CEO’s

The reinsurance world has always been a bit arcane, but rarely to the extent it appears to be right now. Henry Keeling the president and ...

Air France Crash Investigation Sparks Pilot Mystery

 A French airliner plunged out of control for four minutes before crashing into the Atlantic in 2009, investigators said, in a report ...

Virulent German E.coli Outbreak Death Toll Rises

A virulent form of E.coli bacteria blamed on infected cucumbers from Spain has killed 13 people in Germany and sickened 300, health ...

Study Forecasts Ice Melt Will Close off Arctic’s Interior Riches

Global warming will likely open up coastal areas in the Arctic to development but close vast regions of the northern interior to forestry ...
Business Income Insurance Training Series: 5-Part training series from Academy of Insurance starts next week - Learn more and register today
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New Discussions in the Forums

Ethical Problem - Please help!
Posted: Tue May 31 -- Does your electronic notepad have a history feature where all activity on the file can be documented? If so, find the date you entered your... Blondie2
..a complicate package prospect question!..
Posted: Sun May 29 -- Hi Saabins: Thanks for the advice. Yes, she's currently with an standard carrier; Because the premium is so attractive, if it's E&S market... roycheong1031
National Agents Alliance? Legit or Keep Away?
Posted: Sat May 28 -- Well everyone I really haven't had time to dedicate to NAA quite yet. But based on what I am reading here I just don't know if it's what I... slushpuppyking
Healthcare Reform
Posted: Sat May 28 -- There's always a buzz on Health care reform. Recently, Obama made changes on Medicare and then signed the CLASS Act to lessen the dependence... carefree
Policies written through E&S markets--Florida
Posted: Sat May 28 -- I am curious to find out if there is a specific rule against putting my agency's information over that of the E&S broker that the policy is... saabins

Reader Comments

Suit Filed in Boy's Fatal Fall After Lakers Game
Posted: Thu May 26 -- A tragedy and better barriers are most likely warranted. However, who puts their 2-1/2 year old so close to the edge without another adult... Alice
Drunk, Joyriding Husband Covered by Insurance in Michigan for Crash
Posted: Fri May 27 -- I think this is a bad decision -- the guy should be prosecuted for stealing the car as well as being held personnally responsible for the... hmmmmm
German Insurer Organized Orgy for Best Salesmen
Posted: Wed May 25 -- Amazed....please stop bashing our President. If you had 1% of his compassion, you would never have made such an ignorant, insensitive... Cheri

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