Jun 2, 2011

Daily Headlines: Thursday, June 2, 2011

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Insurance Journal Daily Headlines
June 2, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Cell Phone Cancer Report Comes As Supreme Court Weighs Lawsuits

The U.S. Supreme Court is considering the fate of litigation against cell phone makers over safety risks, just as the industry comes under ...

Employers Looking Other Way On Employees’ Distracted Driving

A recent survey confirms that there is growing concern among corporate managers about distracted driving risks and liability. Fifty percent ...

Supreme Court Rules Former AG Ashcroft Not Liable for Damages

The Supreme Court this week threw out damage claims against former Attorney General John Ashcroft over an American Muslim's arrest, but ...

QBE Completes Acquisition of Balboa Insurance Portfolio

Australia's QBE announced it has completed acquisition of Balboa's Insurance portfolio, following the agreement with Balboa's parent, Bank ...

Ratings: Doctors Co., Gateway, Kingstone, Farm Credit, Associated Mutual

A.M. Best Co. has commented that the financial strength rating of 'A-' (Excellent) and issuer credit ratings of "a-" of Doctors Company ...

XL Environmental Releases Indemnity Coverage for Mid-Sized Contractors

XL Insurance, the global underwriting operations of XL has unveiled a new contractor's protective indemnity (CPI) coverage for the ...

Appalachian Underwriters, American Alternative Partner on Commercial Auto

Appalachian Underwriters, Inc. (AUI) has been appointed by American Alternative Insurance Corporation (AAIC) to offer nationwide commercial ...

Hiscox Launches Small Business Coverage in Ariz., Calif., N.Y.

Hiscox has introduced their business owners policy (BOP) offering in Arizona, California and New York, with coverage in additional states ...

As More Workers Go Mobile, Workers' Compensation Exposure Grows

Employers who supply their employees with company cell phones, laptops, BlackBerries, iPads and other portable devices could be in for a ...

Countrywide’s Mozilo Asks to Dismiss Allstate Lawsuit

Angelo Mozilo, the former Countrywide Financial Corp. chief executive, urged a federal judge to throw out Allstate Corp.'s lawsuit seeking ...

From MyNewMarkets.com New Package Policy Simplifies Coverage for Financial Institutions

A new product from Bankers Insurance Services and Insurmark is making it less complicated for financial institutions that own or service...
New training from Academy of Insurance: Linking individual goals to the overall goals of the organization ensures that your employees are invested in the success of the business. Learn the keys to setting effective individual performance goals and strategies to follow thru the execution of these important goals.
East

Driver of Car Hit by Train is Billed for Damage

Metro-North plans to bill a 40-year-old woman for the damage one of its trains suffered when it struck the woman's car in Milford, ...

Gallagher Buys D.C. Financial Firm

Insurance broker Arthur J. Gallagher & Co. has acquired Independent Fiduciary Services Inc. (IFS), a Washington-based institutional ...

Cioppa Named Acting Superintendent in Maine

Eric Cioppa will serve as acting superintendent of the Maine Bureau of Insurance, following the departure of Mila Kofman last month. ...

Halvorsen Joins Lockton in New York

Lockton has hired Marianne Halvorsen as vice president and producer. Halvorsen, who will be based in New York, previously served as a vice ...
Midwest

9 Days After Tornado, Rebuilding Begins in Joplin, Missouri

Electrical crews hoisted power poles, small businesses opened in tents and residents snatched up construction supplies as rebuilding got ...

Owners of Sears, Now Willis, Tower Seek Investor

The owners of North America's tallest building, formerly known as the Sears Tower, are looking for an investor to help recapitalize the ...

A.M. Best Downgrades Ratings of State Auto Insurance Companies

A.M. Best Co. has downgraded the financial strength rating (FSR) to A (Excellent) from A+ (Superior) and issuer credit ratings (ICR) to ...

Economist: Exports Aiding Midwest Economic Growth

Strong export numbers are boosting the economy in nine Midwest and Plains states, even though high raw material costs have hurt profits, ...
Southeast

South Carolina Senate Approves Limits on Lawsuits Damages

The South Carolina Senate has given approval to a bill limiting lawsuit punitive damages, but bucked South Carolina Gov. Nikki Haley along ...

Widow Sues Over Mississippi Ship Accident

The widow of Thomas L. Moore, who drowned when a fishing boat and ship collided in the Mississippi Sound, has filed a federal lawsuit ...

233 South Carolina Drivers Get Licenses Back in Amnesty Program

Hundreds of people regained their driving privileges during South Carolina's first amnesty program for suspended licenses. The Department ...

MarketScout Opens Florida Personal Lines Office

MarketScout, the Dallas-based electronic insurance exchange with managing general agent and wholesale operations, has expanded by opening a ...

Hub Completes Acquisition of South Carolina Agency

Chicago-based broker Hub International Limited has completed the previously-announced acquisition of First Southeast Insurance Services, ...
South Central

Insurer Groups Say Windstorm Issue Must be Addressed in Texas

The Texas Legislature, which adjourned its regular session on May 30, passed a number of bills of interest to the property and casualty ...

Above Average Number of Tornadoes in Oklahoma This Year

A meteorologist with the federal government's Storm Prediction Center said on May 31 that Oklahoma has seen a greater than average number ...
West

Pinncol Audit Finds No Impropriety

An audit committee has found no evidence of impropriety in Pinnacol Assurance's incentive, expense and pay policies, but nevertheless ...

Calif. Workers’ Comp Insurance Rating Bureau President Retires

After more than 42 years of service to the California workers' compensation community, Workers' Compensation Insurance Rating Bureau ...

USAA Reducing Calif. Homeowners Insurance Rates 15%

USAA is reducing insurance rates for most of its California policyholders an average of 14.9 percent, the California Department of ...

Hawaii Gov. Authorizes Raid of Hurricane Relief Fund

Hawaii Gov. Neil Abercrombie has signed legislation appropriating $42 million from the state's Hurricane Reserve Trust Fund to the General ...

EPIC Adds Childers as Account Executive in Folsom

EPIC (Edgewood Partners Insurance Center), a retail property/casualty insurance brokerage and employee benefits consultant based in ...

Wash. Seeks Comment on Workers’ Comp Policy on For-Hire Drivers

Washington's Department of Labor and Industries is seeking comment on proposed rules to implement legislation requiring workers' ...

Weber Joins Poms & Associates' Colorado Office

Poms & Associates Insurance Brokers Inc., an insurance brokerage firm, has announced that Joseph Weber has joined the firm's Colorado ...
Sponsored by: Nevada Surplus Lines Association. WSSLC 2011. Western States Surplus Line Conference. Lake Tahoe, Nevada. July 24-27. Click here for more information.
International

ICC Denounces Growing Protectionist Trend in G20 Countries

The Paris-based International Chamber of Commerce (ICC) has issued a statement urging G20 leaders to "keep markets open to trade, ...

Russia Bans EU Vegetables Due to E.coli Fears

Russia banned imports of raw vegetables from the European Union on Thursday because of a deadly E.coli outbreak centered in Germany, ...

Validus Launches ‘AlphaCat Re 2011′ Sidecar

Bermuda-based Validus Holdings has joined with other investors in capitalizing and launching AlphaCat Re 2011, Ltd., which it describes as ...

S&P Affirms Platinum Underwriters and Operating Subs Ratings

Standard & Poor's has affirmed its 'A' counterparty credit and financial strength ratings on Platinum Underwriters Reinsurance Inc. and ...

Ratings Roundup: Island Heritage, Patria Re

A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of Cayman Islands-based ...

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Agents Battle MLR Rules

In preparation for new surplus lines regulations, states are considering whether to join...
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Interstate Compacts? Forget About Them

Following the November elections, Congress and the White House, as well as states, have signaled that...

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New Discussions in the Forums

Policies written through E&S markets--Florida
Posted: Thu Jun 2 -- Any evidence of coverage (Dec's, certs etc) issued by a producing agent pursuant to this section must include the name and address of the... TheInsKid
Warehouse Legal Liability for CA Moving and Storage Company
Posted: Wed Jun 1 -- Hanover has a program for Moving and Storage Companies... a01
Ethical Problem - Please help!
Posted: Wed Jun 1 -- Somewhere in the program is a transaction file. Find the approximate date the file was deleted, it will be shown in the transaction file. To... CSP
National Agents Alliance? Legit or Keep Away?
Posted: Wed Jun 1 -- Slushpuppyking - "I could be way off because I've never worked in the industry..." I would have to agree. (no offense) The industry provides... pontiac
..a complicate package prospect question!..
Posted: Tue May 31 -- You sound like you're new to the business. When you're in the early stages of your career selling insurance, everyone looks like a prospect,... d's insurance store
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

Reader Comments

Drunk, Joyriding Husband Covered by Insurance in Michigan for Crash
Posted: Sun May 29 -- No, an adult should be responsible for their own actions. The policy clearly states he is an excluded driver. If he gets drunk, then takes... Former Status Quo
German Insurer Organized Orgy for Best Salesmen
Posted: Fri May 27 -- You should do less "guessing" and more thinking about when and where such discussions are appropriate and relevant. Hint: it's not in the... Luchy

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