May 4, 2011

Daily Headlines: Wednesday, May 4, 2011

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Insurance Journal Daily Headlines
May 4, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Survey: Commercial Lines Prices Fall 3% in Q1

Commercial property/casualty pricing declined again with an average decline 3 percent in the first quarter of 2011. But according to a new ...

U.S. Republicans Push to Repeal Healthcare Funds

In a renewed attack against President Barack Obama's healthcare overhaul program, House Republicans voted Tuesday to deny funding for a ...

Sony Hires Investigators to Clean Up After Breach

Sony has hired outside investigators to help clean its networks and catch the people behind a massive breach that exposed the personal data ...

Small Business Owners Concerned Over Taxes, Healthcare Issues

Tax-related regulations and concerns over health care burden many small business owners today. Nearly two out of three business owners ...

From MyNewMarkets.com Overcapacity in P/C Insurance Keeping Commercial Prices Down

Most commercial lines insurance prices continued their downward trend in the first quarter, as underwriters' efforts to hold the line on...
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East

New York Senators Push to Toughen Texting at Wheel Law

New York's Senate Republicans promise to push legislation that would allow police to stop and ticket motorists for texting while driving. ...

Vermont Economic Development Legend Moulton Dies at 85

Elbert "Al" Moulton, the man credited with keeping billboards out of Vermont and creating the state's captive insurance industry, has died. ...

Second Defamation Trial Starts for Pennsylvania Newspaper

A defamation suit against a northeastern Pennsylvania newspaper is before a judge for a second time. The suit against The Citizens' Voice ...
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Midwest

PMA Companies Opens News Illinois Office

PMA Companies, a Pennsylvania-based provider of commercial insurance risk management solutions and TPA claims and risk services, has opened ...

Cat Losses Rise but State Auto Q1 Income Nearly Even with Last Year

State Auto Financial Corp., based in Columbus, Ohio, has reported first quarter 2011 net income of $12.7 million versus net income of $12.9 ...

Corps Breaks Missouri Levee as Water Rises Elsewhere

A few momentary blasts, flashes of orange light, and the Mississippi River began pouring through a wide hole in a Missouri levee, ...
Southeast

Damage Estimated in Billions as Insurers Work to Pay Claims

Officials, insurers and residents are starting the daunting task of assessing and cleaning up the damage from the massive storm system that ...

Kentucky to Streamline Agents’ Licenses for Veterans

Members of the armed services and their sponsors will find it easier to keep or obtain an agent's license under a new law approved by ...

Florida Clinic Owner and Employees Charged in PIP Case

A medical clinic owner in Florida has been arrested on charges of fraud and theft in association with bogus automobile personal injury ...
South Central

Texas Continues Crack Down on Late Surplus Line Filings

Among the enforcement actions for March 2011 announced by the Texas Department of Insurance are a number of fines imposed on surplus lines ...

State Auditor: Jindal Administration Refusing Records for Privatizing Insurance

Louisiana's Legislative Auditor Daryl Purpera says Gov. Bobby Jindal's administration has refused to hand over some information about a ...

Texas Supreme Court: Public Entities Immune from Retaliatory Discharge Claims

A ruling by the Texas Supreme Court will make it more difficult for former employees of public entities to pursue retaliatory discharge ...
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West

Calif. Agents: Tread Carefully When Providing Workplace Safety Advice

Woe to the employer who is not attentive and actively engaged in health and safety." That's the warning the California Division of ...

Insurer Association Urges Calif. Legislators to Ban ‘Crash Taxes’

California's Senate Public Safety Committee held a hearing yesterday, evaluating the need to ban local governments from charging accident ...

$11M in Calif. Insurer Investments Go to Underserved Communities

Insurance Commissioner Dave Jones and Speaker John A. Pérez announced that  $11 million in new insurance company investments will benefit ...
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International

First Quarter Earnings Reports: Hannover Re, Argo Group

Hannover Re's Q1 losses from catastrophic events were around $850 million, but the world's third largest reinsurer still managed to eke out ...

Indonesia Signs Tax Information Treaty with Guernsey

Guernsey announced that it signed a bilateral Tax Information Exchange Agreement (TIEA) with Indonesia last week. The Chief Minister, ...

Liberty International Underwriters in Europe Launches Football Charity Appeal

The London office of Liberty International Underwriters in Europe (LIU Europe), a member of Liberty Mutual Group, announced that it is ...

Palmer to Join Citadel Risk Board

The Board of Citadel Risk Services US and UK announced the appointment of Mike Palmer  to the Board of Citadel Risk alongside Tony Weller ...
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Interstate Compacts? Forget About Them

In preparation for new surplus lines regulations, states are considering whether to join...
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N.Y. Agents Seek Principles for Health Insurance Exchange

Federal health care reform laws mandate that every state sets up a health insurance exchange. In New York...

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New Discussions in the Forums

Risk Purchasing Groups
Posted: Mon May 2 -- Sure, however, you would think that would have to be stipulated in the policy contract, no? I've reviewed the policy and I don't see... Rob
Live Music venue in CA with open A&B claim
Posted: Mon May 2 -- "If I am reading this correctly, the risk has had 2 A/B claims; one is closed, one is still open? That could... Rob
13,000 properties needing property insurance
Posted: Fri Apr 29 -- Thank you all for your suggestions! This is a bizarre request and you all have been extremely helpful in understanding the possible routes... hannah.cca
Need comp in Ca for structural steel contractor
Posted: Thu Apr 28 -- I believe Companion and/or Castlepoint might entertain this risk with a lapse. If not, it'll more than likely need to get SCIF'd. EricCBIAIns

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