May 25, 2011

Daily Headlines: Wednesday, May 25, 2011

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Insurance Journal Daily Headlines
May 25, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Treasury Sells AIG Shares at Slight Profit

The U.S. Treasury is barely breaking even on its investment in beleaguered insurance giant American International Group Inc., according to ...

AIG Stock Dips After $8.7 Billion Share Sale by U.S. Treasury

of American International Group Inc. fell 3.6 percent Wednesday after the insurer and the U.S. Treasury sold $8.7 billion worth of AIG ...

Hotels Weigh Staff Safety Issues After IMF Chief’s Case

Hotels could arm employees with panic buttons but are unlikely to put security cameras in hotel rooms following the alleged sexual assault ...

Agents’ Use of Real-Time Upload Rises, Study Reveals

The number of independent agents using real-time upload increased 16 percent from 2009 to 2001, says a new industry study. In IVANS' 2009 ...

Travelers Expands Coverage for Healthcare Organizations

Travelers has unveiled new property coverages through its IndustryEdge product for healthcare organizations. New coverages include: ...

Catastrophes Issue Wake Up Call on Supply Chain Risks

The Japanese earthquake and tsunami that occurred in March 2011 served as a wake up call of sorts for businesses vulnerable to supply chain ...

Ryan Specialty Group Launches LifeScienceRisk

Ryan Specialty Group, LLC has introduced its LifeScienceRisk, a managing general underwriter specializing in generic pharmaceuticals, ...

From MyNewMarkets.com Markets in Motion: Medi-Spa

The anti-aging market has become more sophisticated, more profitable and more risky. From botox injections to laser treatments, the...
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East

Philly Police Kill Man Who Allegedly Stabbed Insurance Agent

Authorities have identified the fatal stabbing suspect fatally shot by Philadelphia police over the weekend. The Philadelphia Inquirer ...

Honor Students Sentenced to Prison in Connecticut Arson

Three college honor students have each been sentenced to 90 days in prison for burning down a vacant warehouse in East Lyme, Connecticut. ...

Provider Names Darcey and Moran Partners

Massachusetts-based Provider Insurance agency has named Patrick Darcey and Jamie Moran as shareholders. Darcey is a senior sales executive ...

Lawsky Confirmed as Head of New York Regulatory Agency

The New York Senate has confirmed Benjamin M. Lawsky as superintendent of the Department of Financial Services (DFS), the combined agency ...
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Midwest

Searchers, Dogs Scour Missouri Tornado Wreckage

First they found his dark blue teddy bear. Then frantic relatives searching for toddler Skyular Logsdon spotted his red T-shirt and pants, ...

Midwest States Reeling from Multiple Devastating Storms

As Joplin, Mo., attempts to clean up after what's been deemed the single most destructive tornado in U.S. history, other Midwest states ...

2011 on Pace to Be Deadliest U.S. Tornado Year

The tornado that raked Joplin, Missouri, on Sunday was the deadliest single twister in the United States since 1953, putting 2011 on pace ...

Insurance Industry Charitable Foundation Names Midwest Directors

The Insurance Industry Charitable Foundation approved the Midwest division board of directors and executive committee. Twelve senior ...
Southeast

Florida Undertakes Hurricane Readiness Exercises

Florida began its sometimes annual hurricane exercise Monday after skipping the practice storm last year because officials were busy with a ...

Tennessee Approves Caps on Lawsuit Damages

Tennessee Governor Bill Haslam is praising lawmakers for giving final approval to a plan to cap non-economic and economic damages stemming ...

South Carolina Beach Pool Rates Going Up 9.8%

For the first time in four years, South Carolina residents living along the state's coastline are going to have to pay more for ...

Werckman Joins Patriot National as Alternative Underwriting Manager

Patriot National Insurance Group hired Theodore Werckman as alternative market  underwriting manager of the group's PEO unit. In this ...
South Central

Texas Windstorm Insurance Legislation Advances

The Texas Senate unanimously approved its version of a bill to revamp the state's windstorm fund that insures coastal properties against ...

Domestic Outsourcing Services for Insurance Agencies Launched in Texas

Independent Insurance Agents of Dallas (IIAD) Staffing Services division has teamed up with Work At Home Vintage Employees LLC (WAHVE) to ...

Combined Agents of America Elects Shropshire Chairman for 2011

Combined Agents of America LLC (CAA), based in Austin, Texas, has elected John V. Shropshire Jr., CEO of The Shropshire Agency in Lubbock, ...
West

PBS Insurance Acquires Todd R Soll Insurance

PBS Insurance Underwriting Corp has acquired Todd R Soll Insurance Services Inc. of Sherman Oaks, Calif. TRS is a wholesaler for ...

The Doctors Co. Acquires FPIC Insurance Group

The Doctors Co.  announced it has acquired FPIC Insurance Group Inc. a Florida-based provider of medical professional liability insurance ...

Heffernan Insurance Brokers Joins UnisonBrokers Network

Heffernan Insurance Brokers based in Walnut Creek, Calif., has joined German-based UNISONBrokers, a global broker network, to facilitate ...
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International

Transocean Talking With BP Over Gulf Oil Spill

Transocean Ltd has had high-level talks with BP Plc about last year's Gulf of Mexico oil well disaster, for which it believes BP is ...

China Urges Greater Attention to Safety at iPad Factory After Blast

China asked Foxconn Technology Group and other Taiwanese firms to pay more attention to safety, after a deadly blast at a Chinese factory ...

Carroll, Fell Take on New Roles at Retail Division Markel UK

Specialty insurer Markel International has reorganized its retail division (Markel UK). Steve Carroll, who has been responsible for the ...
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New Discussions in the Forums

Build agency value with a quality book of business
Posted: Wed May 25 -- What is your insurance background? Do you intend to start an independent agency?" Non-standard auto.. some home.. some... meytai
Continuing Education ... Masters Degree in Insurance?
Posted: Tue May 24 -- A CPCU desigination is best. However, I would request an informational interview with a couple of Fortune 500 company's risk managers and... mccluney
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

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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