Jun 7, 2011

Daily Headlines: Tuesday, June 7, 2011

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Insurance Journal Daily Headlines
June 7, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

LexisNexis Insurance Exchange Now Available Industry-Wide

The LexisNexis Insurance Exchange, a system that promises to improve how property/casualty agents, brokers and carriers collaborate on ...

Top 5 Economic Changes by Consumers That Affect Their Car Insurance

From changing jobs to moving to a different house to downsizing vehicles, Americans have made decisions during the recent economic downturn ...

U.S. Supreme Court Rejects GE Challenge to EPA Cleanup Orders

The U.S. Supreme Court Monday rejected General Electric Co.'s legal challenge to part of a federal law that gives the Environmental ...

Ratings Roundup: First Jersey, Stonetrust

A.M. Best Co. has downgraded the financial strength rating to 'B-' (Fair) from 'B+' (Good) and the issuer credit rating to "bb-" from ...

Marsh Launches Index-Based Insurance Option for Earthquake, Windstorm Risks

Marsh now offers an option for organizations with significant earthquake and/or windstorm exposures that are unable to purchase enough ...

WKF&C PRO Adds New Assisted Living Facilities Program

WKF&C PRO has added a new assisted living facilities program. The new program is available on non-admitted paper in all states except ...

From MyNewMarkets.com Real Estate E&O Players Prepped and Ready for Market Turnaround

Insurers are beginning to see some flickers of confidence in the real estate industry, which means the market for real estate E&O...
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East

Pennsylvania Woman’s Lawsuit Claims Dunkin’ Brew is Too Sweet

A Dunkin' Donuts employee mistakenly put sugar rather than artificial sweetener into a diabetic woman's coffee, triggering a reaction that ...

Thousands Sign Up for Massachusetts Crowd Manager Law

Massachusetts State Fire Marshal Stephen Coan says that more than 4,000 people have completed online training to become certified crowd ...

Massachusetts Officials Collecting Storm Damage Reports

Emergency management officials are asking Massachusetts residents and business owners to let the state know about damage sustained in last ...
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Midwest

Revival of Illinois Workers’ Comp Bill a Tale of Persuasion

Everyone on the Illinois House floor was watching the vote climb. 56...57... In the waning hours of the legislative session, lawmakers were ...

Insurance Companies to Pay $50K Penalty to Iowa

Allied Property and Casualty Insurance and six affiliated companies have agreed to pay a $50,000 penalty to the state of Iowa for ...

Disastrous Spring Costing Missouri Billions of Dollars

A month packed with tornadoes and flooding has caused billions of dollars of damage in Missouri, and the economic effects may be felt for ...

Missouri Fund for Injured Workers Stops Paying Claims

Fifty-five people permanently disabled from workplace injuries are owed money from a Missouri fund but are not getting paid because of the ...

MJ Insurance Named a 2011 'Top Workplace' in Indiana

Indianapolis, Ind.-based MJ Insurance, one of the largest privately-held insurance agencies in the United States, has been named one of ...
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Southeast

Florida Commission Approves RMS Hurricane Model

Florida's residential property insurance market is bracing for even more volatility after the state's modeling commission approved the ...

Will New Legislation Help Florida’s Property Insurance Market?

Florida hasn't been hit by a hurricane since the disastrous years of 2004 and 2005, but the state's property insurance companies say they ...
South Central

Texas Windstorm Insurance Issue Added to Special Session

Texas Gov. Rick Perry has added legislation relating to the operation of the Texas Windstorm Insurance Association as an issue to be ...

Improvements Lead to Flood Insurance Rate Break in Louisiana Parish

Residents of unincorporated St. Tammany Parish in Louisiana are getting $1.9 million in premium decreases for federal flood insurance. ...

William Gammon Insurance, Higginbotham & Associates Join Forces

Texas-based independent insurance agencies William Gammon Insurance and Higginbotham & Associates have merged. The combined company has ...

Ott Named President, CEO of Texas Medical Liability Trust

Austin, Texas-based Texas Medical Liability Trust (TMLT) announced that Charles R. (Chip) Ott Jr. will assume leadership of TMLT as ...
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West

Nevada Joins Insurance Product Regulation Compact

Nevada Gov. Brian Sandoval has signed AB23 enacting the Interstate Insurance Product Regulation Commission (IIPRC). With the addition of ...

Court Approves Majestic Insurance Rehabilitation Plan

A San Francisco Superior Court has approved California Insurance Commissioner's rehabilitation plan for Majestic Insurance Co., a failed ...

Manning Riddell Co-Owner Pleads Guilty to Bogus E&O Coverage

Margaret Murray Manning of Redondo Beach, Calif., has been found guilty of six felony counts for violating section 550(b) (3) of the ...

Sperbeck Appointed Calif. Deputy Insurance Commissioner

Insurance Commissioner Dave Jones announced that he has appointed Erika Sperbeck as the new deputy insurance commissioner of the ...

Woodruff-Sawyer Names Pierson VP in Southern California

San Francisco-based Woodruff-Sawyer & Co., an independent insurance broker, has named John Pierson vice president, account executive, ...

McMullen Insurance Agency Joins ISU Network

McMullen Insurance Agency of Elko, Nev., has joined the ISU Network. The agency was established in 1952 by Hugh D. McMullen and is ...
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International

Need for Global Insurance Standards Driven by Financial Crisis, Solvency II

While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory ...

Lloyd’s Welcomes North American Brokers

A group of 30 brokers from across the U.S. and Canada are set to visit Lloyd's this week as part of an annually organized broker program. ...

Starr International Invests in China’s Dazhong Insurance Co.

Starr Companies announced that Starr International Company, Inc. has been approved by the China Insurance Regulatory Commission [CIRC] as a ...

Travelers Europe Appoints Felisky as Chief Risk Officer

Travelers Europe announced that Kendra Felisky has been appointed to the "newly created position of Chief Risk Officer, Europe, covering ...

HDI-Gerling Hires Appleton as UK, Ireland Liability Head

Industrial Insurance Company HDI-Gerling announced the appointment of Mark Appleton to the position of liability underwriting director for ...

Everest Re Names Gourgeon as European General Manager

The Bermuda-based Everest Re Group has appointed Jean-Luc Gourgeon to the position of European General Manager, based in London. He most ...

Best Places AXA Canada, Intact Financial Ratings under Review

A.M. Best announced a number of rating actions as a result of the announcement on May 31 that that Intact Financial Corporation (IFC) has ...
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Markets in Motion: Medi-Spa

The anti-aging market has become more sophisticated, more profitable and more risky. From...
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Agents Battle MLR Rules

The sweeping federal health care reform law enacted last year is having a major bottom line...

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New Discussions in the Forums

Innovative Insurance Product (PA)
Posted: Mon Jun 6 -- I represent the inventor of an innovative insurance based business method, patent pending, involving the purchase of real estate. My client... garyashapiro
National Agents Alliance? Legit or Keep Away?
Posted: Sat Jun 4 -- Pontiac, I like your positive attitude towards the company and the opportunity. Perhaps we could exchange emails and I could get some more... slushpuppyking
Auto driven on a racetrack - NY PAP excludes
Posted: Thu Jun 2 -- Try Lockton Affinity's HPDE program. I believe they released an ala carte product a year or so ago for track day and driving school events... brydo
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
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
..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

New Jersey Court: Drunk Driver Can Sue Bar that Served Him
Posted: Fri Jun 3 -- Another absurd rendering by the NJ courts. It's time to start holding individuals accountable for their own poor judgment and social... Jester
Cell Phone Cancer Report Comes As Supreme Court Weighs Lawsuits
Posted: Thu Jun 2 -- If I have had the same job for the last 10 years, and if my only cell phone has been my work issued cell phone, is my brain cancer a work... Producer #1

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