May 18, 2011

Daily Headlines: Wednesday, May 18, 2011

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Insurance Journal Daily Headlines
May 18, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Allstate Targets Online Insurance Sales; Buys Esurance, Answer Financial

In a bid to capture more business from customers who shop online, giant Allstate Corp. has agreed to pay $1 billion to buy two popular ...

Judge Dismisses Shareholder Suit vs Citigroup Execs Over Mortgages

Citigroup Inc. officials, including Chief Executive Vikram Pandit, won the dismissal of a shareholder lawsuit accusing them of turning a ...

Starbucks Sued for Firing Dwarf from Barista Job

The U.S. government is suing Starbucks, saying the coffee company fired a barista in El Paso, Texas because she is a dwarf. When the ...

Americans Oppose Accident Response Fees: Insurance Industry Survey

Sixty-eight percent of adults oppose local governments charging accident response fees to individuals involved in traffic accidents, ...

Oak Street Lending Hires Newton; Promotes Nicholson, McAtee

Indianapolis-based insurance industry lender Oak Street Funding has hired Carissa Newton as director of marketing and has promoted two ...

Lexington to Insure Alternative Energy Tax Credits

Lexington Insurance Co., a Chartis company, has introduced ITC Energy 48SM, its energy investment tax credit insurance program, which ...

National Interstate Enters Ambulance Insurance Market

National Interstate Insurance Co., a provider of transportation insurance, has entered the ambulance insurance market through a ...

From MyNewMarkets.com Intellectual Property Insurance: Coverage that Fits the Risk

Many companies are unaware that the insurance they purchase may not protect their most valuable assets, intellectual property (IP). That's...
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East

Lawsky, Wrynn to Lead New York's Reshuffled Regulatory Arm

Benjamin M. Lawsky has been nominated as superintendent of New York's Department of Financial Services, the combined regulator of ...

Maine Superintendent Stepping Down

Insurance Superintendent Mila Kofman will step down from the Maine Bureau of Insurance at the end of the month. Kofman has served as ...

New Day Underwriting Promotes Heft

New Jersey-based New Day Underwriting Managers has promoted John Heft to senior vice president, director real estate practice. The 20-year ...
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Midwest

Unitrin Estimates April Catastrophe Losses at $65M to $75M

Unitrin Inc., headquartered in Chicago, announced that pret-tax catastrophe losses due to several, severe tornados and other storms during ...

Flood Appointed Chief Deputy Commissioner in Michigan

Ann Flood has been appointed Chief Deputy Commissioner in Michigan's Office of Financial and Insurance Regulation (OFIR), effective May ...

Reik Named Vice President at State Auto

State Auto Financial Corp., based in Columbus, Ohio,has elected Timothy (Tim) G. Reik a vice president following his appointment as ...

Extension Sought in North Dakota on Crop Insurance Deadlines

North Dakota Farmers Union is seeking a 10-day extension on the crop insurance planting deadline for some crops. Farmers see reduced ...
Southeast

Court Sides with Alabama Newspaper over Public Official’s Libel Claim

An Alabama appeals court has ruled in favor of an Anniston newspaper that was sued by a city councilman who claimed he was libeled in a ...

Florida Gov. Scott Signs Property Insurance Cost Control Bill

Florida Gov. Rick Scott has signed into law legislation that promises to lower costs for the state's property insurers, including what they ...
South Central

Louisiana Ag Commissioner: Crop Insurance Plans Guaranteed for Floods

Agriculture and Forestry Commissioner Mike Strain D.V.M., said the United States Department of Agriculture (USDA) has guaranteed that ...

Wrotenbery Joins Hub International Rigg in Houston

Hub International Limited (Hub) announced that Tina Wrotenbery has joined Hub International Rigg (Hub Rigg) as a senior employee benefits ...

Oklahoma Converts to State Based Systems in June

The Oklahoma Insurance Department (OID) is changing itsdatabase systems to State Based Systems (SBS) during the month of June 2011. In ...
West

Calif. Workers’ Comp Premium Written Edges Up to $7.1B

California workers' compensation insurers' total direct written premium (DWP) rose 3.1 percent to $7.1 billion last year, according to ...

Calif. Practices for Flooding as South is Inundated

Emergency workers in nearly half of California counties will be practicing for a catastrophic flood this week -- a drill given added ...

Suit Says USAA Unfairly Denied Car Crash Claims

A Salem, Ore., attorney has filed a lawsuit accusing USAA Insurance Co, which represents military members and their families, of ...

Integro Acquires Argo Insurance Brokers

Insurance brokerage and risk management firm Integro has acquired Argo Insurance Brokers, a San Francisco Bay Area broker offering ...

CMR Risk & Insurance Receives Employer of the Year Award

San Diego Insurance Women, an affiliate of the National Association of Insurance Women, International, has presented the Employer of the ...

Wash. Agents Can File Contractors’ Proof of Insurance Online

Washington's Department of Labor and Industries (L&I) has created an online system for insurance agents to create, cancel and reinstate ...
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International

Finaccord Forecasts Growth for Europe Professional Indemnity Coverage

A new study from financial market research consultants Finaccord forecasts that the market for professional indemnity insurance across ten ...

UK’s Miller Creates New Specialist Binding Authority Team

London-based broker Miller announced that it has created a new international platform for its binding authority business with the formation ...

Cooper Gay Restructures Business into Three Core Trading Units

London-based broker Cooper Gay announced that it has restructured its UK business, Cooper Gay & Co Ltd, into three core trading units ...

Cooper Gay/Swett & Crawford Establish Marine broker w/ Junge & Co

Cooper Gay Swett & Crawford Ltd (CGSC) announced the establishment of a specialist marine insurance broker, Junge Verzekeringsmakelaars ...

Best Revises Montpelier Re Outlook to Positive; Affirms Ratings

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

Ratings Roundup: Mapfre Tepeyac, UFP, Cotswold, Johnston Re

A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of Mexico's Mapfre ...
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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

"Pay As You Go" Work Comp
Posted: Wed May 18 -- I have worked with a couple of WC carriers that offers the pay as you go feature and my client loved it. It means that they are paying @... saabins
how should i compensate my producers?
Posted: Tue May 17 -- If you're going to be in business... be in business. there is nothing worse than the agent that wants to grow the book but is unwilling to... wlunday
Incentives for Clients
Posted: Tue May 17 -- Why don't you try offering something of real value like risk management, loss control consultation, perhaps a plan that will pay dividends... wlunday
PA - Log Home with Farm Animals
Posted: Tue May 17 -- I'd look at some of the preferred carrier commercial farm policies. I would quote this with Safeco (Liberty Mutual) if it was out west...... wlunday
(CA) Looking For Market For Long Term Tree Farm
Posted: Tue May 17 -- Crop Insurance? Just a thought. Wayne Lunday, LUTCF, CLU, ChFC wlunday
4-H & FFA group
Posted: Tue May 17 -- Hi ya'll! I have been tasked by our local 4-H & FFA groups to find a CGL coverage for their activities. They have had coverage through the... wlunday
Business Networking
Posted: Tue May 17 -- I belong to BNI, which is a referral group and it works very well. Our goal is to build relationships to refer business to each other. Also,... dukekneeland
Philadelphia Insurance Company
Posted: Tue May 17 -- Philadelphia Insurance Companies is a member of the Tokio Marine Group, which is the 4th largest insurer (???) in the world. You may check... RKunz2

Reader Comments

Toyota Can Be Sued for Reduced Value of Cars, U.S. Judge Rules
Posted: Tue May 17 -- Holy cow, what has this world come to? My house is now worth less than 2 yrs ago because of foreclosures in the neighborhood. Can I sue the... ???
Florida Court Knocks Out Hulk Hogan Claim Against Agency
Posted: Tue May 17 -- Correct decision. But I still feel bad for the guy. He was really screwed by his wife on this. An umbrella policy should be a no-brainer for... youngin'
Brooke Corp. Fines Pale Next to Pain Caused by Franchise Scheme
Posted: Mon May 16 -- I actually flew to Overland Park/Kansas City for a meeting with Lowry and several other of these clowns. The purpose for the meeting changed... AZInsMan
Massachusetts Widow Sues Big Dig Contractors Over Husband's Death
Posted: Fri May 13 -- But certainly would have survived had he been wearing a seatbelt and obeying the speed limit. The 'not my fault, it was somebody elses' bug... Wayne

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